Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.009%
Price spread now: Lighter RH against Bitget−0.026%7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$230.229% of the position
Funding, last 7 days+0.054%+$5 on $10k
+Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.026%, 7d avg −0.065%
=Together, before fees+0.014%+ Points / potential airdropLighter RH: Points live · farm board+$1 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 RH is 0.039% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.065%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget MSFTUSDT | 501.71 | 0 | get 0.0000% / 8h | 6h 16m | $4.5M | $2.5M | 100x |
| Short | Lighter RH MSFT | 501.58 | 0.0032 | get 0.0004% / 1h | 16m 25s | $624K | $2.0M | 20x |
Bitget MSFTUSDT
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Bitget. 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
- $6.72
- Price spread: −0.026% → −0.065%
- $3.95
- Slippage, 4 orders
- −$10.92
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$12.25
- Costs to cover
- 0.229%
- Break-even
- 19.8 days
Slippage from Bitget: live order book, 2 min ago; Lighter RH: live order book, 1 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 Bitget live order book, 2 min ago | 1.00 bp | 9.6 bp −$10 | 12.4 bp −$124 | 36.7 bp −$3,674 | doesn't fit |
| Sell Lighter RH live order book, 1 min ago | 1.30 bp | 1.4 bp −$1 | 4.4 bp −$44 | 42.4 bp −$4,238 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 501.22 | −0.098% | $679K | $457K | 10x | as long as short |
| Nado MSFT-PERP | −0.0003% | 1h | 501.59 | −0.023% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.81 | +0.020% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.61 | −0.020% | $337K | $899K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.70 | −0.002% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.70 | −0.002% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.90 | +0.038% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.57 | −0.028% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDTlong | 0.0000% | 8h | 501.71 | long leg | $4.5M | $2.5M | 100x | |
| Variational Omni MSFT | 0.0000% | 8h | 501.69 | −0.004% | $1.3M | $682K | — | 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
Variational Omni MSFTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.75 | +0.008% | $18K | $296K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.54 | +0.165% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.63 | −0.016% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.62 | −0.018% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.05 | +0.068% | $2.2M | $765K | 10x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 501.58 | −0.026% | $624K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0038% | 1h | 501.64 | −0.014% | $1.1M | $5.7M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.51 | −0.040% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.71 | 0.000% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 501.42 | −0.058% | $32K | $8K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.39 | −0.064% | $22.1M | $9.3M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.31 | −0.080% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.65 | −0.012% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.46 | −0.050% | $522K | $518K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.65 | −0.012% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.60 | −0.022% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.47 | −0.048% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.29 | −0.084% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.62 | −0.018% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.65 | −0.012% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 501.83 | +0.024% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.78 | +0.014% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0345% | 4h | 501.68 | −0.007% | $102K | $243K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
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
Lighter MSFT
Injective MSFT/USDC PERP
edgeX MSFTUSDC