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

Net, funding: paid 7d − costs−$20as 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 Polymarket Perps Short on Lighter RH

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

The price spread pays, funding is against you. Lighter RH is 0.040% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.020%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.5 days. 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	Polymarket Perps MSFT-USD	501.36	0.0050	pay 0.0006% / 1h	5m 42s	$309K	$683K	10x
Short	Lighter RH MSFT	501.66	0.0032	get 0.0004% / 1h	5m 42s	$652K	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 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 Polymarket PerpsbpFee Lighter RHbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$3.78
Price spread: +0.060% → +0.020%: $4.02
Slippage, 4 orders: −$7.95
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$15.71
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 17 min ago; Lighter RH: live order book, 2 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, 17 min ago	1.50 bp	6.4 bp −$6	8.8 bp −$88	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	1.50 bp	2.5 bp −$2	4.9 bp −$49	38.3 bp −$3,827	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	+0.002%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	+0.022%	$690K	$433K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.98	+0.123%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.80	+0.088%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.88	+0.104%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.76	+0.080%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.084%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.60	+0.048%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.84	+0.096%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.81	+0.090%	$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	+0.070%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.64	+0.255%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.53	+0.034%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.80	+0.088%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.128%	$2.2M	$768K	10x	as long as short
Nado MSFT-PERP	+0.0001%	1h	501.39	+0.005%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0015%	8h	501.90	+0.108%	$188K	$210K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.77	+0.082%	$1.1M	$654K	20x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	501.66	+0.060%	$652K	$2.2M	20x
Vest MSFT-USD-PERP	+0.0046%	1h	501.63	+0.054%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	+0.008%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.36	long leg	$309K	$683K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.79	+0.086%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.32	−0.008%	$521K	$485K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.76	+0.080%	$1.2M	$5.7M	10x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.68	+0.064%	$221	—	5x	as long as short
Phoenix MSFT	+0.0096%	1h	501.60	+0.048%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.20	−0.032%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.39	+0.006%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.78	+0.084%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.82	+0.092%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.89	+0.106%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.67	+0.062%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0657%	4h	501.84	+0.096%	$102K	$243K	10x	as long as short