Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.06 per $10,000 · paid last 24h +0.004%
Price spread now: tradeXYZ against Lighter RH−0.075%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$250.246% of the position
Funding, last 7 days+0.004%$0 on $10k
+Price spread, last 7 days+0.021%+$2 · spread now −0.075%, 7d avg −0.046%
=Together, before fees+0.026%+ Points / potential airdropLighter RH: Points live · tradeXYZ: Active · farm board+$3 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 tradeXYZ is 0.029% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.046%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 503.59 | 0.0032 | pay 0.0004% / 1h | 2m 03s | $706K | $1.9M | 20x |
| Short | tradeXYZ xyz:MSFT | 503.21 | −0.0012 | pay 0.0002% / 1h | 2m 03s | $22.4M | $8.8M | 20x |
Lighter RH MSFT
tradeXYZ xyz:MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$9.27
- Price spread: −0.075% → −0.046%
- −$2.9
- Slippage, 4 orders
- −$6.58
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$36.75
- Costs to cover
- 0.246%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 1 min ago; tradeXYZ: live order book, 7 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, 1 min ago | 1.09 bp | 3.2 bp −$3 | 7.3 bp −$73 | 42.3 bp −$4,227 | doesn't fit |
| Sell tradeXYZ live order book, 7 min ago | 0.40 bp | 10.0 bp −$10 | doesn't fit | 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 | −0.0585% | 4h | 503.54 | −0.010% | $102K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0059% | 1h | 503.44 | −0.030% | $414K | $67K | 20x | as long as short |
| tradeXYZ xyz:MSFTshort | −0.0012% | 1h | 503.21 | −0.075% | $22.4M | $8.8M | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 503.59 | 0.000% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.60 | +0.003% | $339K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.74 | +0.029% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.44 | −0.030% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.82 | +0.046% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.43 | −0.032% | $3.1M | $1.9M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.59 | 0.000% | $3.8M | $2.9M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
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 | 503.54 | −0.011% | $1.3M | $401K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.57 | −0.004% | $18K | $321K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.50 | +0.181% | $6K | $3.8M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.44 | −0.030% | $27K | $44K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 503.16 | −0.085% | $681K | $460K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.43 | −0.032% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.90 | +0.062% | $2.2M | $817K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0008% | 8h | 503.57 | −0.004% | $191K | $206K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.64 | +0.010% | $1.2M | $532K | 20x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 503.59 | long leg | $706K | $1.9M | 20x | |
| QFEX MSFT-USD | +0.0037% | 1h | 503.61 | +0.004% | $1.1M | $4.6M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.29 | −0.060% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.75 | +0.032% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.40 | −0.038% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.47 | −0.024% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.14 | −0.089% | $512K | $428K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.46 | −0.025% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.28 | −0.062% | $11K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0088% | 1h | 503.05 | −0.107% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.20 | −0.077% | $1.6M | $81K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.21 | −0.075% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.59 | 0.000% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.61 | +0.005% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.80 | +0.042% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP