Funding you earn now, next payment 09:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.005%
Price spread now: Lighter against KuCoin+0.028%7-day average +0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$530.527% of the position
Funding, last 7 days−0.074%−$7 on $10k
+Price spread, last 7 days−0.029%−$3 · spread now +0.028%, 7d avg +0.057%
=Together, before fees−0.103%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.029% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.057%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MSFTUSDTM | 503.86 | 0.0100 | pay 0.0100% / 8h | 7h 28m | $1.6M | $112K | 20x |
| Short | Lighter MSFT | 504.00 | 0.0032 | get 0.0004% / 1h | 28m 10s | $1.2M | $513K | 20x |
KuCoin MSFTUSDTM
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14.28
- Price spread: +0.028% → +0.057%
- −$2.88
- Slippage, 4 orders
- −$40.7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$69.86
- Costs to cover
- 0.527%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 8 min ago; Lighter: live order book, 2 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 KuCoin live order book, 8 min ago | 8.34 bp | 23.3 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 0.89 bp | 0.9 bp −$1 | 3.1 bp −$31 | 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 | −0.0313% | 4h | 504.33 | +0.094% | $103K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.83 | −0.006% | $682K | $478K | 10x | as long as short |
| Nado MSFT-PERP | −0.0031% | 1h | 503.96 | +0.019% | $415K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.36 | +0.098% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.28 | +0.083% | $335K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.30 | +0.087% | $15.9M | $18.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.02 | +0.032% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.30 | +0.087% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.07 | +0.042% | $3.1M | $1.9M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.39 | +0.105% | $3.9M | $2.9M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.34 | +0.096% | $1.3M | $387K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.31 | +0.090% | $19K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.17 | +0.260% | $6K | $3.5M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.56 | +0.139% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.53 | +0.133% | $2.2M | $837K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0008% | 8h | 504.36 | +0.099% | $192K | $204K | 20x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 504.07 | +0.042% | $11K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0016% | 1h | 503.84 | −0.004% | $33K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.24 | +0.075% | $1.1M | $4.6M | 10x | as long as short |
| Lighter MSFTshort | +0.0032% | 1h | 504.00 | +0.028% | $1.2M | $513K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 504.00 | +0.028% | $699K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 504.08 | +0.044% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.30 | +0.087% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.84 | −0.004% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.60 | −0.052% | $303K | $650K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.09 | +0.046% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.99 | +0.026% | $514K | $395K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 504.13 | +0.054% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTMlong | +0.0100% | 8h | 503.86 | long leg | $1.6M | $112K | 20x | |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.83 | −0.006% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.21 | +0.069% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.22 | +0.072% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0167% | 1h | 504.11 | +0.050% | $27K | $45K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 505.84 | +0.393% | $116K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Phoenix MSFT
Hotstuff MSFT-PERP
QFEX MSFT-USD
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Injective MSFT/USDC PERP