MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.001%

Price spread now: Extended against Lighter RH+0.016%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Lighter RH Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.016%, 7d avg +0.039%

Together, before fees−0.038%+ Points / potential airdropLighter RH: Points live · Extended: Active · farm board−$4 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 Extended is 0.023% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	501.39	0.0032	pay 0.0004% / 1h	35m 11s	$619K	$2.0M	20x
Short	Extended MSFT_24_5-USD	501.47	0	get 0.0000% / 1h	35m 11s	$337K	$942K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$6.72
Price spread: +0.016% → +0.039%: −$2.34
Slippage, 4 orders: −$10.26
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$24.32
Costs to cover: 0.153%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; Extended: live order book, 37 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, 3 min ago	1.79 bp	2.8 bp −$3	5.3 bp −$53	42.2 bp −$4,224	doesn't fit
Sell Extended live order book, 37 min ago	0.10 bp	5.2 bp −$5	24.1 bp −$241	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	−0.0276%	4h	501.71	+0.064%	$102K	$242K	10x	as long as short
BloFin MSFT-USDT	−0.0020%	8h	501.57	+0.036%	$188K	$206K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.13	−0.052%	$680K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0002%	1h	501.42	+0.005%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.54	+0.030%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	501.47	+0.016%	$337K	$942K	17x
Binance MSFTUSDT	0.0000%	8h	501.57	+0.036%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.55	+0.032%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.70	+0.062%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.31	−0.016%	$3.1M	$1.6M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.59	+0.040%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.74	+0.070%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.86	+0.094%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.32	+0.185%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.25	−0.028%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.39	0.000%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.95	+0.112%	$2.2M	$758K	10x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	501.39	long leg	$619K	$2.0M	20x
QFEX MSFT-USD	+0.0044%	1h	501.55	+0.032%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.48	+0.018%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.15	−0.048%	$22.2M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	−0.038%	$303K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.45	+0.012%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.39	0.000%	$527K	$488K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.54	+0.029%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.66	+0.054%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0080%	1h	501.60	+0.042%	$1.1M	$486K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.46	+0.014%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.45	+0.012%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.19	−0.040%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.50	+0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	+0.012%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.60	+0.042%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.00	+0.122%	$115K	$45K	30x	as long as short