Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.025%
Price spread now: Gate against Lighter−0.042%7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$290.288% of the position
Funding, last 7 days−0.086%−$9 on $10k
+Price spread, last 7 days+0.069%+$7 · spread now −0.042%, 7d avg +0.010%
=Together, before fees−0.017%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.052% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.010%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 503.64 | 0.0032 | pay 0.0004% / 1h | 41m 38s | $1.2M | $522K | 20x |
| Short | Gate MSFT_USDT | 503.43 | 0 | get 0.0000% / 8h | 41m 38s | $3.1M | $1.8M | 100x |
Lighter MSFT
Gate MSFT_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$6.72
- Price spread: −0.042% → +0.010%
- −$5.19
- Slippage, 4 orders
- −$13.82
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$40.73
- Costs to cover
- 0.288%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Gate: 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 Lighter live order book, 4 min ago | 0.99 bp | 1.7 bp −$2 | 8.2 bp −$82 | doesn't fit | doesn't fit |
| Sell Gate live order book, 1 min ago | 3.87 bp | 12.6 bp −$13 | 52.8 bp −$528 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0031% | 1h | 503.42 | −0.043% | $414K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.37 | −0.054% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.56 | −0.017% | $338K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.69 | +0.010% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.46 | −0.036% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.80 | +0.032% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDTshort | 0.0000% | 8h | 503.43 | −0.042% | $3.1M | $1.8M | 100x | |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.64 | 0.000% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.40 | −0.048% | $1.3M | $414K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.62 | −0.004% | $19K | $326K | 10x | as long as short |
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 504.44 | +0.159% | $6K | $3.8M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.34 | −0.060% | $27K | $44K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 502.97 | −0.133% | $682K | $454K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.59 | −0.010% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.80 | +0.032% | $2.2M | $820K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 503.68 | +0.008% | $191K | $206K | 20x | as long as short |
| Lighter MSFTlong | +0.0032% | 1h | 503.64 | long leg | $1.2M | $522K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 503.49 | −0.030% | $698K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0037% | 1h | 503.53 | −0.022% | $1.2M | $4.7M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 503.20 | −0.087% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.34 | −0.060% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.62 | −0.004% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.21 | −0.085% | $22.4M | $8.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.26 | −0.075% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.47 | −0.034% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.20 | −0.087% | $512K | $428K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 503.58 | −0.012% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.31 | −0.066% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.06 | −0.115% | $1.6M | $62K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.27 | −0.073% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.45 | −0.038% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.48 | −0.031% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.82 | +0.234% | $116K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0347% | 4h | 503.57 | −0.013% | $102K | $242K | 10x | as long as short |
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Hotstuff MSFT-PERP
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
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC