MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0126%/8h= −13.8% APRnext payment −$0.16 per $10,000 · paid last 24h −0.007%

Price spread now: Polymarket Perps against Lighter−0.104%45s7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.155% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.095%+$10 · spread now −0.104%, 7d avg −0.063%

Together, before fees+0.097%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.040% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.063%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSFT	502.00	0.0176	pay 0.0022% / 1h	31m 49s	$1.1M	$459K	20x
Short	Polymarket Perps MSFT-USD	501.48	0.0050	get 0.0006% / 1h	31m 49s	$302K	$648K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Lighter. 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 LighterbpFee Polymarket PerpsbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$26.46
Price spread: −0.104% → −0.063%: −$4.02
Slippage, 4 orders: −$7.54
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$46.02
Costs to cover: 0.155%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Polymarket Perps: live order book, 31 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	1.00 bp	1.9 bp −$2	9.7 bp −$97	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 31 min ago	1.30 bp	5.3 bp −$5	5.5 bp −$55	6.5 bp −$653	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.151%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	501.50	−0.099%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0024%	1h	501.42	−0.116%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.79	−0.042%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.73	−0.054%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.88	−0.024%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.79	−0.042%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	−0.008%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.70	−0.060%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.79	−0.042%	$4.5M	$2.5M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.82	−0.036%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.83	−0.034%	$18K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.64	+0.127%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.79	−0.042%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.91	−0.018%	$2.2M	$768K	10x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	501.97	−0.006%	$189K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.76	−0.048%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.68	−0.064%	$685K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.63	−0.074%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.68	−0.064%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.41	−0.118%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	501.48	−0.104%	$302K	$648K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.77	−0.046%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.26	−0.147%	$525K	$486K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	501.71	−0.058%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.58	−0.084%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.60	−0.080%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.19	−0.161%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.73	−0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.72	−0.055%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0109%	1h	501.59	−0.082%	$27K	$41K	10x	as long as short
Lighter MSFTlong	+0.0176%	1h	502.00	long leg	$1.1M	$459K	20x
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.247%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0610%	4h	501.74	−0.053%	$102K	$243K	10x	as long as short