Funding you earn now, next payment 04:00 UTC−0.0070%/8h= −7.7% APRnext payment −$0.09 per $10,000 · paid last 24h −0.009%
Price spread now: SoDEX against Lighter−0.046%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.046% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 501.57 | 0.0120 | pay 0.0015% / 1h | 18m 15s | $1.1M | $499K | 20x |
| Short | SoDEX MSFT-USD | 501.34 | 0.0050 | get 0.0006% / 1h | 18m 15s | $60K | $3K | 10x |
Lighter MSFT
SoDEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$14.7
- Price spread: −0.046% → 0.000%
- −$4.59
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$27.29
- Costs to cover
- 0.080%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 3 min ago; SoDEX: no order-book sample. Net counts fees only.
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, 3 min ago | 1.00 bp | 2.3 bp −$2 | 6.1 bp −$61 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0509% | 4h | 501.49 | −0.017% | $102K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | −0.120% | $678K | $455K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0027% | 8h | 501.53 | −0.008% | $189K | $204K | 20x | as long as short |
| Nado MSFT-PERP | −0.0007% | 1h | 501.29 | −0.055% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.30 | −0.053% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.45 | −0.025% | $337K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.57 | 0.000% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.20 | −0.074% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.57 | 0.000% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.31 | −0.052% | $3.1M | $1.7M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.39 | −0.036% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.48 | −0.017% | $1.3M | $615K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.54 | −0.006% | $19K | $302K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.36 | +0.158% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.52 | −0.010% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.56 | −0.002% | $2.2M | $768K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.34 | −0.046% | $675K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.43 | −0.028% | $1.2M | $5.2M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.25 | −0.064% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.41 | −0.032% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.19 | −0.076% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.05 | −0.104% | $22.1M | $8.7M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.22 | −0.070% | $302K | $722K | 10x | as long as short |
| SoDEX MSFT-USDshort | +0.0050% | 1h | 501.34 | −0.046% | $60K | $3K | 10x | |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.07 | −0.100% | $528K | $443K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 501.43 | −0.028% | $221 | — | 5x | as long as short |
| Hotstuff MSFT-PERP | +0.0096% | 1h | 501.03 | −0.108% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.16 | −0.082% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.21 | −0.072% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.44 | −0.026% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.46 | −0.022% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0109% | 1h | 501.39 | −0.036% | $27K | $41K | 10x | as long as short |
| Lighter MSFTlong | +0.0120% | 1h | 501.57 | long leg | $1.1M | $499K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.63 | +0.012% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Injective MSFT/USDC PERP