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: Injective against Lighter−0.089%7-day average −0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs+$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$250.250% of the position
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
Funding pays, the price is against you. Injective is 0.063% cheaper against Lighter than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of −0.026%). If the spread goes back, that is −$6 on $10k: about 27 hours of funding at the current rate (+$6 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 504.32 | 0.0032 | pay 0.0004% / 1h | 51m 06s | $1.2M | $509K | 20x |
| Short | Injective MSFT/USDC PERP | 503.87 | 0.0220 | get 0.0028% / 1h | 51m 06s | $115K | $45K | 30x |
Lighter MSFT
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $39.48
- Price spread: −0.089% → −0.026%
- −$6.27
- Slippage, 4 orders
- −$24.98
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $8.21
- Costs to cover
- 0.250%
- Break-even
- 5.5 days
Slippage from Lighter: live order book, 5 min ago; Injective: live order book, 48 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, 5 min ago | 0.50 bp | 2.3 bp −$2 | 5.5 bp −$55 | doesn't fit | doesn't fit |
| Sell Injective live order book, 48 min ago | 10.03 bp | 10.0 bp −$10 | 10.0 bp −$100 | 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 | +0.091% | $103K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0067% | 1h | 504.04 | −0.055% | $415K | $67K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.91 | −0.081% | $684K | $491K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.73 | +0.082% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.36 | +0.009% | $338K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.48 | +0.031% | $15.9M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.25 | −0.014% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.01 | −0.061% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.15 | −0.034% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.43 | +0.022% | $3.9M | $3.0M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
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 | 503.97 | −0.069% | $1.3M | $392K | — | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.24 | +0.182% | $6K | $3.7M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 504.11 | −0.042% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.34 | +0.004% | $59K | $224K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.76 | +0.087% | $2.2M | $826K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0003% | 8h | 504.46 | +0.028% | $191K | $205K | 20x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 504.07 | −0.050% | $11K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.39 | +0.014% | $1.2M | $4.6M | 10x | as long as short |
| Lighter MSFTlong | +0.0032% | 1h | 504.32 | long leg | $1.2M | $509K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 504.29 | −0.006% | $706K | $1.8M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 504.22 | −0.020% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.49 | +0.034% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 504.00 | −0.063% | $22.5M | $8.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 504.21 | −0.022% | $304K | $704K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.21 | −0.022% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.99 | −0.065% | $514K | $425K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 504.41 | +0.017% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 504.09 | −0.046% | $1.6M | $92K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 504.31 | −0.002% | $161K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.55 | +0.046% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.42 | +0.019% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 503.87 | −0.089% | $115K | $45K | 30x | |
| Hotstuff MSFT-PERP | +0.0224% | 1h | 504.11 | −0.042% | $33K | $8K | 20x | as long as short |
| GRVT MSFT_USDT_Perp | +0.0322% | 8h | 504.74 | +0.084% | $19K | $319K | 10x | as long as short |
Variational Omni MSFT
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Phoenix MSFT
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
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
GRVT MSFT_USDT_Perp