Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: Orderly against Lighter RH−0.002%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Orderly

What this pair did over the last

the charts below follow

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	503.45	0.0032	pay 0.0004% / 1h	20m 35s	$708K	$1.9M	20x
Short	Orderly PERP_MSFT_USDC_mythos	503.44	0.0100	get 0.0100% / 8h	20m 35s	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.002%Rate

Funding earned: $14.28
Price spread: −0.002% → 0.000%: −$0.2
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $8.08
Costs to cover: 0.060%
Break-even: 3.0 days

Slippage unknown: Lighter RH: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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	1.19 bp	2.4 bp −$2	5.4 bp −$54	39.0 bp −$3,902	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit MSFT_USDC-PERPETUAL	−0.0108%	1h	503.20	−0.050%	$27K	$44K	10x	as long as short
Nado MSFT-PERP	−0.0043%	1h	503.56	+0.023%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.84	+0.078%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.52	+0.013%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.65	+0.040%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.33	−0.024%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.66	+0.042%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.37	−0.016%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.62	+0.034%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.52	+0.013%	$1.3M	$404K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.69	+0.048%	$18K	$321K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.40	+0.189%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.16	−0.058%	$681K	$447K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.45	0.000%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.83	+0.075%	$2.2M	$818K	10x	as long as short
BloFin MSFT-USDT	+0.0003%	8h	503.62	+0.034%	$191K	$206K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0011%	1h	503.18	−0.054%	$22.4M	$8.9M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.54	+0.018%	$1.2M	$532K	20x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	503.45	long leg	$708K	$1.9M	20x
edgeX MSFTUSDC	+0.0036%	4h	503.49	+0.008%	$102K	$243K	10x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.48	+0.006%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.33	−0.024%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.77	+0.064%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.26	−0.038%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.35	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.17	−0.056%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.57	+0.025%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.40	−0.010%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.95	−0.099%	$1.6M	$67K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.37	−0.016%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	503.44	−0.002%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	503.48	+0.006%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0128%	1h	503.19	−0.052%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.86	+0.280%	$116K	$45K	30x	as long as short