Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Gate against Lighter RH−0.004%7-day average +0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$310.311% of the position
Funding, last 7 days−0.042%−$4 on $10k
+Price spread, last 7 days+0.053%+$5 · spread now −0.004%, 7d avg +0.048%
=Together, before fees+0.010%+ Points / potential airdropLighter RH: Points live · farm board+$1 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 Gate is 0.052% cheaper against Lighter RH than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.048%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 502.95 | 0.0032 | pay 0.0004% / 1h | 54m 37s | $679K | $2.0M | 20x |
| Short | Gate MSFT_USDT | 502.93 | 0 | get 0.0000% / 8h | 2h 54m | $3.1M | $1.7M | 100x |
Lighter RH MSFT
Gate MSFT_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$6.72
- Price spread: −0.004% → +0.048%
- −$5.23
- Slippage, 4 orders
- −$16.11
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$43.06
- Costs to cover
- 0.311%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 3 min ago; Gate: live order book, 3 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 | 1.39 bp | 1.7 bp −$2 | 4.3 bp −$43 | 39.3 bp −$3,926 | doesn't fit |
| Sell Gate live order book, 3 min ago | 4.87 bp | 14.9 bp −$15 | 59.5 bp −$595 | 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 | 503.29 | +0.068% | $685K | $461K | 10x | as long as short |
| Nado MSFT-PERP | −0.0049% | 1h | 502.90 | −0.009% | $412K | $66K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0008% | 8h | 503.14 | +0.038% | $190K | $205K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.96 | +0.002% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.08 | +0.025% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.21 | +0.052% | $15.8M | $19.3M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 502.94 | −0.002% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.35 | +0.080% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDTshort | 0.0000% | 8h | 502.93 | −0.004% | $3.1M | $1.7M | 100x | |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.14 | +0.038% | $4.4M | $2.6M | 100x | as long as short |
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 503.19 | +0.047% | $1.3M | $493K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.45 | +0.100% | $19K | $307K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.94 | +0.197% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 502.85 | −0.020% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.05 | +0.020% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.75 | +0.159% | $2.2M | $791K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 502.80 | −0.030% | $32K | $8K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.22 | +0.054% | $1.2M | $495K | 20x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 502.95 | long leg | $679K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0036% | 1h | 503.16 | +0.042% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.11 | +0.032% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.15 | +0.040% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 503.13 | +0.036% | $11K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 502.79 | −0.032% | $22.2M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.84 | −0.022% | $303K | $713K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.97 | +0.004% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.83 | −0.024% | $513K | $463K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.04 | +0.018% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.88 | −0.014% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.22 | +0.054% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 502.97 | +0.004% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.03 | +0.017% | $55 | — | 10x | as long as short |
| edgeX MSFTUSDC | +0.0118% | 4h | 503.66 | +0.141% | $102K | $242K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.24 | +0.058% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
Lighter MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
edgeX MSFTUSDC
Injective MSFT/USDC PERP