Funding you earn now, next payment 06:00 UTC−0.0129%/8h= −14.2% APRpaid last 24h −0.009%
Price spread now: BloFin against Lighter+0.032%7-day average +0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.200% of the position
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.032%, 7d avg +0.030%
=Together, before fees−0.044%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 503.54 | 0.0120 | pay 0.0015% / 1h | 34m 46s | $1.2M | $506K | 20x |
| Short | BloFin MSFT-USDT | 503.70 | −0.0009 | pay 0.0009% / 8h | 2h 34m | $190K | $206K | 20x |
Lighter MSFT
BloFin MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Lighter. 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
- −$27.18
- Price spread: +0.032% → +0.030%
- $0.21
- Slippage, 4 orders
- −$7.95
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$46.92
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 1 min ago; BloFin: live order book, 46 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 Lighter live order book, 1 min ago | 1.09 bp | 1.5 bp −$2 | 8.8 bp −$88 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 46 min ago | 0.20 bp | 8.0 bp −$8 | 10.9 bp −$109 | 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 | −0.0225% | 4h | 503.83 | +0.057% | $102K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.26 | −0.056% | $682K | $465K | 10x | as long as short |
| BloFin MSFT-USDTshort | −0.0009% | 8h | 503.70 | +0.032% | $190K | $206K | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 503.30 | −0.048% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.37 | −0.034% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.46 | −0.016% | $15.8M | $19.3M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.34 | −0.040% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.63 | +0.018% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.37 | −0.034% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.51 | −0.006% | $3.8M | $2.9M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
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 | 503.69 | +0.029% | $1.3M | $479K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.67 | +0.027% | $19K | $312K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.46 | +0.183% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.43 | −0.022% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.39 | −0.030% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.70 | +0.032% | $2.2M | $796K | 10x | as long as short |
| Nado MSFT-PERP | +0.0001% | 1h | 503.40 | −0.028% | $412K | $66K | 20x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.57 | +0.006% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.22 | −0.064% | $687K | $2.0M | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0032% | 1h | 503.27 | −0.054% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 503.62 | +0.016% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.42 | −0.024% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.67 | +0.026% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.05 | −0.097% | $22.3M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.30 | −0.048% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.45 | −0.018% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.29 | −0.050% | $517K | $470K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 503.42 | −0.025% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.94 | −0.119% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.30 | −0.048% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.49 | −0.010% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.55 | +0.003% | $55 | — | 10x | as long as short |
| Lighter MSFTlong | +0.0120% | 1h | 503.54 | long leg | $1.2M | $506K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.85 | −0.137% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
Phoenix MSFT
Lighter RH MSFT
Hotstuff MSFT-PERP
QFEX MSFT-USD
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
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP