MSFT

Alert

Funding spread now, next payment 16:00 UTC−0.0293%/8h

next payment, per $10,000−$0.37paid, last 24h−0.015%paid, last 3 days+0.002%to open and close $10k−$17

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.002% in total (about 0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	492.70	0.0325	pay 0.0041% / 1h	35m 11s	$112K	$48K	10x
Short	Lighter MSFT	492.97	0.0032	get 0.0004% / 1h	35m 11s	$1.1M	$529K	20x

Funding history

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee ArcusbpFee LighterbpOrdersRate

Funding earned: −$61.52
Slippage, 4 orders: −$12.93
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$78.95
Break-even: never at this rate

Slippage from Arcus: live order book, 14 min ago; Lighter: live order book, 7 min ago.

Price risk

price view

Price gap now: +0.055%
Avg gap 7d: +0.014%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Arcus live order book, 14 min ago	2.03 bp	8.6 bp −$9	9.6 bp −$96	12.9 bp −$1,294	doesn't fit
Sell Lighter live order book, 7 min ago	0.10 bp	3.1 bp −$3	5.6 bp −$56	doesn't fit	doesn't fit

MSFT on 33 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	$663K	$333K	10x	as long as short
Nado MSFT-PERP	−0.0002%	1h	$458K	$4K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	$151K	$76K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	$327K	$380K	17x	as long as short
Bybit MSFTUSDT	0.0000%	8h	$7.4M	$1.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	$3.1M	$1.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	$3.0M	$1.0M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	$3.7M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	$1.2M	$690K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	$6K	$3.9M	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	$57K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	$2.1M	$483K	10x	as long as short
Binance MSFTUSDT	+0.0001%	8h	$15.8M	$13.1M	20x	as long as short
BloFin MSFT-USDT	+0.0023%	8h	$197K	$143K	20x	as long as short
Lighter MSFTshort	+0.0032%	1h	$1.1M	$529K	20x
Lighter RH MSFT	+0.0032%	1h	$677K	$2.0M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	$23.1M	$6.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	$287K	$472K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	$59K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	$536K	$372K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	$217	—	5x	as long as short
QFEX MSFT-USD	+0.0052%	1h	$1.1M	$3.4M	10x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	$40K	—	20x	as long as short
Phoenix MSFT	+0.0065%	1h	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	$1.4M	$7K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	$157K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	$54	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	$113K	$154K	30x	as long as short
Arcus MSFT-USDlong	+0.0325%	1h	$112K	$48K	10x
edgeX MSFTUSDC	+0.0364%	4h	$100K	$244K	10x	as long as short