MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0009%/8h= +1.0% APRnext payment +$0.01 per $10,000 · paid last 24h +0.013%

Price spread now: Lighter against QFEX−0.020%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$130.135% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.043%+$4 on $10k

Price spread, last 7 days+0.035%+$4 · spread now −0.020%, 7d avg +0.007%

Together, before fees+0.079%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.027% cheaper against QFEX than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.007%). If the spread goes back, that is −$3 on $10k: about 9.6 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.043% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	504.71	0.0023	pay 0.0003% / 1h	1m 56s	$1.1M	$4.6M	10x
Short	Lighter MSFT	504.61	0.0032	get 0.0004% / 1h	1m 56s	$1.2M	$535K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against QFEX. 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 QFEXbpFee LighterbpOrdersPrice spread, now −0.020%Rate

Funding earned: $1.97
Price spread: −0.020% → +0.007%: −$2.69
Slippage, 4 orders: −$3.5
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$14.22
Costs to cover: 0.135%
Break-even: 57.6 days

Slippage from QFEX: live order book, 7 min ago; Lighter: live order book, 4 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 QFEX live order book, 7 min ago	1.09 bp	6.1 bp −$6	6.2 bp −$62	11.5 bp −$1,146	doesn't fit
Sell Lighter live order book, 4 min ago	0.20 bp	0.6 bp −$1	4.3 bp −$43	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	−0.0838%	4h	504.53	−0.036%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	504.35	−0.071%	$693K	$455K	10x	as long as short
BloFin MSFT-USDT	−0.0011%	8h	504.92	+0.042%	$191K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0007%	1h	504.48	−0.046%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.57	−0.027%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.69	−0.003%	$336K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.83	+0.024%	$16.3M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.55	−0.032%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.89	+0.036%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.53	−0.036%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.81	+0.020%	$3.9M	$2.8M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.53	−0.035%	$1.3M	$394K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	505.61	+0.178%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.49	−0.044%	$27K	$45K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.72	+0.002%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	505.27	+0.111%	$2.2M	$862K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.31	−0.079%	$11K	$15K	20x	as long as short
QFEX MSFT-USDlong	+0.0023%	1h	504.71	long leg	$1.1M	$4.6M	10x
Lighter MSFTshort	+0.0032%	1h	504.61	−0.020%	$1.2M	$535K	20x
Lighter RH MSFT	+0.0032%	1h	504.62	−0.018%	$698K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.55	−0.032%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.65	−0.012%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.33	−0.075%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.46	−0.050%	$304K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.56	−0.030%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.35	−0.071%	$536K	$387K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	504.59	−0.023%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	504.34	−0.073%	$33K	$8K	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0072%	8h	504.59	−0.023%	$19K	$312K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	504.10	−0.121%	$1.6M	$141K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.14	−0.113%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.72	+0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.64	−0.014%	$56	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	−0.127%	$115K	$45K	30x	as long as short