Funding you earn now, next payment 02:00 UTC+0.0237%/8h= +26.0% APRnext payment +$0.30 per $10,000 · paid last 24h +0.003%
Price spread now: Deribit against Lighter RH+0.022%7-day average — · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$170.172% of the position
Funding, last 5 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 RH: Points live · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.022% dearer against Lighter RH than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 501.08 | 0.0032 | pay 0.0004% / 1h | 47m 56s | $620K | $2.0M | 20x |
| Short | Deribit MSFT_USDC-PERPETUAL | 501.19 | 0.0269 | get 0.0034% / 1h | 47m 56s | $27K | $41K | 10x |
Lighter RH MSFT
Deribit MSFT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $49.78
- Price spread: +0.022% → 0.000%
- $2.2
- Slippage, 4 orders
- −$10.24
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $34.73
- Costs to cover
- 0.172%
- Break-even
- 2.1 days
Slippage from Lighter RH: live order book, 5 min ago; Deribit: live order book, 85 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, 5 min ago | 1.30 bp | 1.4 bp −$1 | 4.2 bp −$42 | 42.0 bp −$4,196 | doesn't fit |
| Sell Deribit live order book, 85 min ago | 0.10 bp | 10.1 bp −$10 | 13.1 bp −$131 | 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 | −0.0590% | 4h | 501.27 | +0.038% | $102K | $242K | 10x | as long as short |
| Nado MSFT-PERP | −0.0039% | 1h | 501.00 | −0.015% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0028% | 8h | 501.33 | +0.050% | $189K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.0024% | 1h | 500.88 | −0.040% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 500.76 | −0.064% | $684K | $449K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.29 | +0.043% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.17 | +0.018% | $342K | $898K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.30 | +0.044% | $15.6M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.14 | +0.012% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.42 | +0.068% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
BloFin MSFT-USDT
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.18 | +0.020% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.29 | +0.042% | $4.3M | $2.4M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.30 | +0.043% | $1.3M | $688K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.28 | +0.040% | $18K | $292K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.07 | +0.198% | $7K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.16 | +0.016% | $58K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.31 | +0.046% | $2.2M | $758K | 10x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 501.08 | long leg | $620K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0038% | 1h | 501.18 | +0.020% | $1.1M | $5.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.13 | +0.010% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.05 | −0.006% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.84 | −0.048% | $22.1M | $9.2M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.89 | −0.038% | $303K | $672K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.19 | +0.022% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.95 | −0.026% | $514K | $502K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 501.14 | +0.012% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.01 | −0.014% | $10K | $15K | 20x | as long as short |
| Lighter MSFT | +0.0080% | 1h | 501.31 | +0.046% | $1.1M | $487K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.80 | −0.056% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.77 | −0.062% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.16 | +0.016% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.14 | +0.012% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.54 | +0.092% | $115K | $45K | 30x | as long as short |
| Deribit MSFT_USDC-PERPETUALshort | +0.0269% | 1h | 501.19 | +0.022% | $27K | $41K | 10x |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
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
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP