Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: Lighter RH against KuCoin+0.052%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2312.312% of the position

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.052%, 7d avg +0.020%

Together, before fees−0.139%+ Points / potential airdropLighter RH: Points live · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.031% dearer against KuCoin than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of +0.020%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	503.30	0.0100	pay 0.0100% / 8h	1h 27m	$1.6M	$60K	20x
Short	Lighter RH MSFT	503.56	0.0032	get 0.0004% / 1h	27m 06s	$701K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against KuCoin. 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 KuCoinbpFee Lighter RHbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$14.28
Price spread: +0.052% → +0.020%: $3.14
Slippage, 4 orders: −$219.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$242.38
Costs to cover: 2.312%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; Lighter RH: live order book, 1 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, 9 min ago	8.04 bp	109.4 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 1 min ago	1.59 bp	2.9 bp −$3	5.2 bp −$52	38.4 bp −$3,841	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	−0.0742%	4h	503.96	+0.130%	$103K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.072%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.56	+0.051%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.64	+0.068%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.76	+0.091%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.58	+0.056%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.93	+0.125%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.68	+0.076%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.84	+0.107%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.94	+0.128%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.99	+0.137%	$18K	$327K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.58	+0.254%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.58	+0.056%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.85	+0.109%	$2.2M	$821K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	503.38	+0.016%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0013%	8h	503.89	+0.117%	$191K	$207K	20x	as long as short
Nado MSFT-PERP	+0.0017%	1h	503.48	+0.036%	$414K	$67K	20x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	503.56	+0.052%	$701K	$2.0M	20x
QFEX MSFT-USD	+0.0039%	1h	503.81	+0.101%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.66	+0.072%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.78	+0.095%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.40	+0.020%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.48	+0.036%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.63	+0.066%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.54	+0.048%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.69	+0.078%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.69	+0.077%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	503.30	long leg	$1.6M	$60K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.39	+0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.67	+0.074%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.74	+0.088%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0108%	1h	503.59	+0.058%	$27K	$43K	10x	as long as short
Lighter MSFT	+0.0144%	1h	503.86	+0.111%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.181%	$115K	$45K	30x	as long as short