Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.020%
Price spread now: Lighter against Variational Omni+0.017%7-day average −0.032% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.053%+$5 on $10k
+Price spread, last 7 days+0.014%+$1 · spread now +0.017%, 7d avg −0.032%
=Together, before fees+0.068%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.049% dearer against Variational Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.032%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MSFT | 501.27 | 0 | get 0.0000% / 8h | 3h 57m | $1.3M | $609K | — |
| Short | Lighter MSFT | 501.35 | 0.0040 | get 0.0005% / 1h | 57m 30s | $1.1M | $498K | 20x |
Variational Omni MSFT
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Variational Omni. 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
- $8.4
- Price spread: +0.017% → −0.032%
- $4.88
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $13.28
- Costs to cover
- 0.000%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 3 min ago. Net counts fees only.
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 Variational Omni RFQ quote, 2 min ago | 2.53 bp | doesn't fit | 12.4 bp −$124 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 0.60 bp | 0.7 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 | −0.0744% | 4h | 501.26 | −0.001% | $102K | $242K | 10x | as long as short |
| Nado MSFT-PERP | −0.0119% | 1h | 501.18 | −0.018% | $414K | $64K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.0049% | 1h | 500.96 | −0.061% | $27K | $42K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0044% | 1h | 500.85 | −0.083% | $22.1M | $8.7M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.059% | $677K | $450K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.23 | −0.007% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.20 | −0.013% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.35 | +0.016% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.05 | −0.043% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.32 | +0.011% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
tradeXYZ xyz:MSFT
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.17 | −0.019% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.26 | −0.001% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFTlong | 0.0000% | 8h | 501.27 | long leg | $1.3M | $609K | — | |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.30 | +0.007% | $19K | $301K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.170% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.16 | −0.021% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.46 | +0.038% | $2.2M | $769K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0010% | 8h | 501.36 | +0.018% | $189K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.88 | −0.077% | $32K | $8K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.06 | −0.041% | $677K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.24 | −0.005% | $1.1M | $4.9M | 10x | as long as short |
| Lighter MSFTshort | +0.0040% | 1h | 501.35 | +0.017% | $1.1M | $498K | 20x | |
| Arcus MSFT-USD | +0.0040% | 1h | 501.04 | −0.045% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.36 | +0.018% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.08 | −0.037% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.91 | −0.071% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.15 | −0.023% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.85 | −0.083% | $527K | $451K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.23 | −0.007% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.93 | −0.067% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.16 | −0.021% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.20 | −0.013% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.22 | −0.009% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.70 | +0.286% | $115K | $45K | 30x | as long as short |
Gate MSFT_USDT
Bitget MSFTUSDT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP