Funding you earn now, next payment 03:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.007%
Price spread now: Lighter against Vest+0.044%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVest: Active · Lighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.044% dearer against Vest than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest MSFT-USD-PERP | 501.52 | 0.0046 | pay 0.0006% / 1h | 58m 14s | — | $1K | 25x |
| Short | Lighter MSFT | 501.74 | 0.0056 | get 0.0007% / 1h | 58m 14s | $1.1M | $454K | 20x |
Vest MSFT-USD-PERP
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Vest. 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
- $2.17
- Price spread: +0.044% → 0.000%
- $4.39
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $4.55
- Costs to cover
- 0.020%
- Break-even
- from the start
Slippage unknown: Vest: no order-book sample; Lighter: live order book, 2 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 Vest no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 2 min ago | 0.90 bp | 1.6 bp −$2 | 4.6 bp −$46 | doesn't fit | doesn't fit |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
MSFT on 33 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 | −0.0623% | 4h | 501.59 | +0.015% | $102K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0161% | 1h | 501.52 | 0.000% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 501.24 | −0.056% | $679K | $457K | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.0009% | 1h | 501.32 | −0.040% | $27K | $41K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.77 | +0.049% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.50 | −0.004% | $337K | $889K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.62 | +0.020% | $15.6M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.67 | +0.030% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.69 | +0.034% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.40 | −0.024% | $3.1M | $1.6M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Deribit MSFT_USDC-PERPETUAL
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.61 | +0.018% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.60 | +0.015% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.58 | +0.012% | $19K | $295K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.40 | +0.175% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.59 | +0.014% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.77 | +0.050% | $2.2M | $763K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.48 | −0.008% | $652K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 501.44 | −0.016% | $1.1M | $5.7M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.41 | −0.022% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERPlong | +0.0046% | 1h | 501.52 | long leg | — | $1K | 25x | |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 501.22 | −0.060% | $32K | $8K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.30 | −0.044% | $22.1M | $9.3M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.22 | −0.060% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.56 | +0.008% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.21 | −0.062% | $522K | $483K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.56 | +0.008% | $221 | — | 5x | as long as short |
| Lighter MSFTshort | +0.0056% | 1h | 501.74 | +0.044% | $1.1M | $454K | 20x | |
| Phoenix MSFT | +0.0080% | 1h | 501.41 | −0.022% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.34 | −0.036% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.22 | −0.060% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.47 | −0.010% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.48 | −0.007% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.87 | +0.070% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Hotstuff MSFT-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
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