Funding you earn now, next payment 03:00 UTC+0.0126%/8h= +13.8% APRnext payment +$0.16 per $10,000 · paid last 24h +0.007%
Price spread now: Lighter against Polymarket Perps+0.108%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$160.155% of the position
Funding, last 7 days−0.002%$0 on $10k
+Price spread, last 7 days−0.099%−$10 · spread now +0.108%, 7d avg +0.063%
=Together, before fees−0.101%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.044% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.063%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MSFT-USD | 501.48 | 0.0050 | pay 0.0006% / 1h | 31m 04s | $302K | $648K | 10x |
| Short | Lighter MSFT | 502.02 | 0.0176 | get 0.0022% / 1h | 31m 04s | $1.1M | $459K | 20x |
Polymarket Perps MSFT-USD
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Polymarket Perps. 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
- $26.46
- Price spread: +0.108% → +0.063%
- $4.43
- Slippage, 4 orders
- −$7.54
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $15.35
- Costs to cover
- 0.155%
- Break-even
- 2.9 days
Slippage from Polymarket Perps: live order book, 32 min ago; Lighter: live order book, 5 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 Polymarket Perps live order book, 32 min ago | 1.30 bp | 6.7 bp −$7 | 7.7 bp −$77 | 9.6 bp −$959 | doesn't fit |
| Sell Lighter live order book, 5 min ago | 1.00 bp | 1.6 bp −$2 | 4.5 bp −$45 | 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 | 501.24 | −0.048% | $679K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0033% | 1h | 501.61 | +0.025% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0011% | 8h | 501.86 | +0.076% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.83 | +0.070% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.76 | +0.056% | $338K | $891K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.91 | +0.087% | $15.7M | $18.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.79 | +0.062% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.96 | +0.096% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.74 | +0.052% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.82 | +0.068% | $4.5M | $2.5M | 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
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 | 501.82 | +0.067% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.87 | +0.078% | $18K | $297K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.68 | +0.239% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.62 | +0.028% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.70 | +0.044% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.00 | +0.104% | $2.2M | $768K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0016% | 1h | 501.38 | −0.020% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.72 | +0.048% | $1.1M | $5.6M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.72 | +0.048% | $687K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.63 | +0.030% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.67 | +0.038% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.39 | −0.018% | $22.1M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USDlong | +0.0050% | 1h | 501.48 | long leg | $302K | $648K | 10x | |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.78 | +0.060% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.26 | −0.044% | $525K | $486K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0061% | 8h | 501.76 | +0.055% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.54 | +0.012% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.66 | +0.036% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.19 | −0.058% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.73 | +0.050% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.75 | +0.053% | $55 | — | 10x | as long as short |
| Lighter MSFTshort | +0.0176% | 1h | 502.02 | +0.108% | $1.1M | $459K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.24 | +0.351% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0990% | 4h | 501.81 | +0.067% | $102K | $244K | 10x | 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
QFEX MSFT-USD
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC