Funding you earn now, next payment 03:00 UTC−0.0184%/8h= −20.1% APRpaid last 24h −0.022%
Price spread now: SunX against Lighter+0.172%7-day average +0.179% · you sell dearer than you buy
Net, funding: paid 7d − costs−$230as in the Funding arb table
Net, price: spread back to 7d avg − costs−$219as in the Price arb table
costs, in and out, $10k−$2192.187% of the position
Funding, last 7 days−0.109%−$11 on $10k
+Price spread, last 4 days (all we have)+0.209%+$21 · spread now +0.172%, 7d avg +0.179%
=Together, before fees+0.100%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.179%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.109% in total (about -5.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 501.25 | 0.0184 | pay 0.0023% / 1h | 12m 35s | $1.1M | $469K | 20x |
| Short | SunX MSFT-USDT | 502.11 | 0 | get 0.0000% / 8h | 5h 12m | $6K | $4.1M | 20x |
Lighter MSFT
SunX MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$38.64
- Price spread: +0.172% → +0.179%
- −$0.72
- Slippage, 4 orders
- −$210.7
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$258.07
- Costs to cover
- 2.187%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; SunX: live order book, 6 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, 3 min ago | 0.70 bp | 1.8 bp −$2 | 7.0 bp −$70 | doesn't fit | doesn't fit |
| Sell SunX live order book, 6 min ago | 29.17 bp | 105.3 bp −$105 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 500.97 | −0.056% | $678K | $458K | 10x | as long as short |
| Nado MSFT-PERP | −0.0033% | 1h | 500.98 | −0.054% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.28 | +0.007% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 500.96 | −0.058% | $337K | $892K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.09 | −0.032% | $15.7M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 500.85 | −0.080% | $7.1M | $2.1M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.34 | +0.018% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.06 | −0.038% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.15 | −0.020% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.32 | +0.013% | $1.3M | $650K | — | as long as short |
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.34 | +0.019% | $18K | $299K | 10x | as long as short |
| SunX MSFT-USDTshort | 0.0000% | 8h | 502.11 | +0.172% | $6K | $4.1M | 20x | |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 500.90 | −0.070% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.23 | −0.004% | $58K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.68 | +0.086% | $2.2M | $770K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0029% | 8h | 501.45 | +0.040% | $190K | $204K | 20x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.09 | −0.032% | $1.1M | $5.6M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 500.98 | −0.054% | $684K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.07 | −0.036% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.10 | −0.030% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.72 | −0.106% | $22.1M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.70 | −0.110% | $301K | $648K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.17 | −0.016% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.75 | −0.100% | $516K | $494K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 501.02 | −0.047% | $220 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.11 | −0.028% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.07 | −0.036% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.11 | −0.028% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.22 | −0.006% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.22 | −0.007% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0176% | 1h | 500.85 | −0.080% | $32K | $8K | 20x | as long as short |
| Lighter MSFTlong | +0.0184% | 1h | 501.25 | long leg | $1.1M | $469K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.73 | +0.096% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0872% | 4h | 501.31 | +0.011% | $102K | $244K | 10x | as long as short |
GRVT MSFT_USDT_Perp
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
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
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC