Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h 0.000%

Price spread now: BloFin against Lighter RH+0.038%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.137%+$14 · spread now +0.038%, 7d avg +0.076%

Together, before fees+0.104%+ Points / potential airdropLighter RH: Points live · farm board+$10 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 BloFin is 0.038% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	501.67	0.0032	pay 0.0004% / 1h	0m 56s	$652K	$2.2M	20x
Short	BloFin MSFT-USDT	501.86	0.0003	get 0.0003% / 8h	2h 00m	$188K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter RH. 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 Lighter RHbpFee BloFinbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$6.17
Price spread: +0.038% → +0.076%: −$3.82
Slippage, 4 orders: −$7.9
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$29.89
Costs to cover: 0.199%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; BloFin: live order book, 14 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 RH live order book, 2 min ago	0.50 bp	0.6 bp −$1	3.6 bp −$36	44.2 bp −$4,415	doesn't fit
Sell BloFin live order book, 14 min ago	0.80 bp	8.6 bp −$9	11.6 bp −$116	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	−0.0515%	4h	501.89	+0.044%	$102K	$244K	10x	as long as short
Hotstuff MSFT-PERP	−0.0040%	1h	501.41	−0.052%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	−0.040%	$690K	$433K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.068%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.78	+0.023%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.84	+0.034%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.85	+0.036%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.59	−0.016%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.83	+0.032%	$3.8M	$2.2M	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	501.88	+0.041%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.76	+0.018%	$19K	$325K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.61	+0.187%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.42	−0.050%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.70	+0.006%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.91	+0.048%	$2.2M	$768K	10x	as long as short
BloFin MSFT-USDTshort	+0.0003%	8h	501.86	+0.038%	$188K	$210K	20x
Nado MSFT-PERP	+0.0007%	1h	501.38	−0.058%	$414K	$64K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.82	+0.030%	$1.1M	$654K	20x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	501.67	long leg	$652K	$2.2M	20x
Vest MSFT-USD-PERP	+0.0046%	1h	501.57	−0.020%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.37	−0.060%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.37	−0.060%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.78	+0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.42	−0.050%	$529K	$494K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.76	+0.018%	$1.1M	$5.7M	10x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.71	+0.008%	$221	—	5x	as long as short
Phoenix MSFT	+0.0096%	1h	501.59	−0.016%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.21	−0.092%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.20	−0.094%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.75	+0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.78	+0.022%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	+0.281%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.66	−0.002%	$109K	$90K	10x	as long as short