MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h +0.010%

Price spread now: Polymarket Perps against Lighter RH−0.060%46s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.160% of the position

Long on Lighter RH Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.060%, 7d avg −0.020%

Together, before fees−0.010%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.040% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.020%). If the spread goes back, that is −$4 on $10k: about 7.4 days of funding at the current rate (+$1 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	501.66	0.0032	pay 0.0004% / 1h	5m 40s	$652K	$2.2M	20x
Short	Polymarket Perps MSFT-USD	501.36	0.0050	get 0.0006% / 1h	5m 40s	$309K	$683K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: $3.78
Price spread: −0.060% → −0.020%: −$4.02
Slippage, 4 orders: −$7.95
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.19
Costs to cover: 0.160%
Break-even: 37.0 days

Slippage from Lighter RH: live order book, 2 min ago; Polymarket Perps: live order book, 17 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	1.50 bp	1.6 bp −$2	4.6 bp −$46	44.8 bp −$4,481	doesn't fit
Sell Polymarket Perps live order book, 17 min ago	1.50 bp	5.5 bp −$5	5.7 bp −$57	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
Hotstuff MSFT-PERP	−0.0064%	1h	501.37	−0.058%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	−0.038%	$690K	$433K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.98	+0.064%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.80	+0.029%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.88	+0.044%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.76	+0.020%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.024%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.60	−0.012%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.84	+0.036%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.81	+0.030%	$1.3M	$726K	—	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	501.71	+0.010%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.64	+0.195%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.53	−0.026%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.80	+0.028%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.068%	$2.2M	$768K	10x	as long as short
Nado MSFT-PERP	+0.0001%	1h	501.39	−0.054%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0015%	8h	501.90	+0.048%	$188K	$210K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.77	+0.022%	$1.1M	$654K	20x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	501.66	long leg	$652K	$2.2M	20x
Vest MSFT-USD-PERP	+0.0046%	1h	501.63	−0.006%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	−0.052%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	501.36	−0.060%	$309K	$683K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.79	+0.026%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.32	−0.068%	$521K	$485K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.76	+0.020%	$1.2M	$5.7M	10x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.68	+0.004%	$221	—	5x	as long as short
Phoenix MSFT	+0.0096%	1h	501.60	−0.012%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.20	−0.092%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.39	−0.054%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.78	+0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.82	+0.033%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.89	+0.046%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.67	+0.002%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0657%	4h	501.84	+0.036%	$102K	$243K	10x	as long as short