MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.24 per $10,000 · paid last 24h −0.041%

Price spread now: Lighter against Injective+0.089%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.089%, 7d avg +0.026%

Together, before fees−0.432%+ Points / potential airdropLighter: Season 3 · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.063% dearer against Injective than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.026%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	503.87	0.0220	pay 0.0028% / 1h	51m 10s	$115K	$45K	30x
Short	Lighter MSFT	504.32	0.0032	get 0.0004% / 1h	51m 10s	$1.2M	$509K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee LighterbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$39.48
Price spread: +0.089% → +0.026%: $6.28
Slippage, 4 orders: −$24.98
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: −$58.2
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from Injective: live order book, 47 min ago; Lighter: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective live order book, 47 min ago	10.03 bp	10.0 bp −$10	10.0 bp −$100	65069.6 bp −$6.51M	365346.9 bp −$182.67M
Sell Lighter live order book, 5 min ago	0.50 bp	2.6 bp −$3	6.7 bp −$67	doesn't fit	doesn't fit

MSFT on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MSFTUSDC	−0.0822%	4h	504.78	+0.180%	$103K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0067%	1h	504.04	+0.034%	$415K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.91	+0.008%	$684K	$491K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.73	+0.171%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.36	+0.098%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.48	+0.121%	$15.9M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.25	+0.075%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.01	+0.028%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.15	+0.056%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.43	+0.111%	$3.9M	$3.0M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.97	+0.020%	$1.3M	$392K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	505.24	+0.272%	$6K	$3.7M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.11	+0.048%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.34	+0.093%	$59K	$224K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.76	+0.177%	$2.2M	$826K	10x	as long as short
BloFin MSFT-USDT	+0.0003%	8h	504.46	+0.117%	$191K	$205K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	+0.040%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.39	+0.103%	$1.2M	$4.6M	10x	as long as short
Lighter MSFTshort	+0.0032%	1h	504.32	+0.089%	$1.2M	$509K	20x
Lighter RH MSFT	+0.0032%	1h	504.29	+0.083%	$706K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.22	+0.069%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.49	+0.123%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.00	+0.026%	$22.5M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.21	+0.067%	$304K	$704K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.21	+0.067%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.99	+0.024%	$514K	$425K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.41	+0.107%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	504.09	+0.044%	$1.6M	$92K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.31	+0.087%	$161K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.55	+0.135%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.42	+0.108%	$55	—	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	503.87	long leg	$115K	$45K	30x
Hotstuff MSFT-PERP	+0.0224%	1h	504.11	+0.048%	$33K	$8K	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0322%	8h	504.74	+0.174%	$19K	$319K	10x	as long as short