Funding you earn now, next payment 04:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.071%
Price spread now: Lighter RH against Arcus+0.002%7-day average −0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$230.229% of the position
Funding, last 4 days (all we have)−0.117%−$12 on $10k
+Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.002%, 7d avg −0.027%
=Together, before fees−0.092%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.029% dearer against Arcus than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.027%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MSFT-USD | 501.09 | 0.0040 | pay 0.0005% / 1h | 37m 39s | $96K | $111K | 10x |
| Short | Lighter RH MSFT | 501.10 | 0.0032 | get 0.0004% / 1h | 37m 39s | $674K | $2.0M | 20x |
Arcus MSFT-USD
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Arcus. 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
- −$1.74
- Price spread: +0.002% → −0.027%
- $2.86
- Slippage, 4 orders
- −$18.37
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$21.74
- Costs to cover
- 0.229%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 20 min ago; Lighter RH: live order book, 5 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 Arcus live order book, 20 min ago | 3.29 bp | 8.6 bp −$9 | 13.1 bp −$131 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 1.50 bp | 1.5 bp −$1 | 3.5 bp −$35 | 41.3 bp −$4,127 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | −0.024% | $678K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0024% | 1h | 501.02 | −0.014% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.03 | −0.013% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.24 | +0.031% | $341K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.37 | +0.056% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.05 | −0.008% | $7.2M | $2.1M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.40 | +0.062% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.24 | +0.030% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.34 | +0.050% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.35 | +0.052% | $1.3M | $613K | — | as long as short |
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.38 | +0.058% | $19K | $302K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.206% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.07 | −0.004% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.17 | +0.016% | $58K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.44 | +0.070% | $2.2M | $779K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0010% | 8h | 501.40 | +0.062% | $189K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.86 | −0.046% | $32K | $8K | 20x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 501.10 | +0.002% | $674K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0036% | 1h | 501.24 | +0.030% | $1.1M | $5.5M | 10x | as long as short |
| Arcus MSFT-USDlong | +0.0040% | 1h | 501.09 | long leg | $96K | $111K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.05 | −0.008% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 500.92 | −0.034% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.86 | −0.046% | $22.1M | $8.7M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.92 | −0.034% | $318K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.030% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.97 | −0.024% | $527K | $456K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 501.25 | +0.032% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.91 | −0.036% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.05 | −0.008% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.27 | +0.036% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.25 | +0.033% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0120% | 1h | 501.38 | +0.058% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.66 | +0.114% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0513% | 4h | 501.36 | +0.055% | $102K | $242K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
QFEX MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
tradeXYZ xyz: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
Lighter MSFT
Injective MSFT/USDC PERP
edgeX MSFTUSDC