Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.006%
Price spread now: Lighter RH against Bybit+0.018%7-day average −0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Funding, last 7 days+0.061%+$6 on $10k
+Price spread, last 7 days+0.021%+$2 · spread now +0.018%, 7d avg −0.036%
=Together, before fees+0.082%+ Points / potential airdropLighter RH: Points live · farm board+$8 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 0.054% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.036%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 502.43 | 0 | get 0.0000% / 8h | 2h 44m | $7.2M | $2.2M | 100x |
| Short | Lighter RH MSFT | 502.52 | 0.0032 | get 0.0004% / 1h | 44m 28s | $685K | $2.0M | 20x |
Bybit MSFTUSDT
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Bybit. 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: +0.018% → −0.036%
- $5.4
- Slippage, 4 orders
- −$12.61
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$11.49
- Costs to cover
- 0.236%
- Break-even
- 19.0 days
Slippage from Bybit: live order book, 3 min ago; Lighter RH: live order book, 3 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 Bybit live order book, 3 min ago | 0.40 bp | 9.9 bp −$10 | 16.6 bp −$166 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 1.29 bp | 2.0 bp −$2 | 4.4 bp −$44 | 37.1 bp −$3,709 | 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 | −0.0064% | 1h | 502.41 | −0.004% | $684K | $454K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0015% | 8h | 502.62 | +0.038% | $190K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.59 | +0.032% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.59 | +0.032% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.75 | +0.064% | $15.8M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDTlong | 0.0000% | 8h | 502.43 | long leg | $7.2M | $2.2M | 100x | |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.73 | +0.060% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.46 | +0.006% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.78 | +0.070% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 502.53 | +0.019% | $1.3M | $479K | — | as long as short |
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance 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 | 502.69 | +0.053% | $18K | $311K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.37 | +0.187% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 502.29 | −0.028% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.46 | +0.006% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.96 | +0.105% | $2.2M | $791K | 10x | as long as short |
| Nado MSFT-PERP | +0.0004% | 1h | 502.42 | −0.001% | $412K | $66K | 20x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 502.42 | −0.002% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 502.52 | +0.018% | $685K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0036% | 1h | 502.57 | +0.028% | $1.1M | $4.8M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 502.26 | −0.034% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 502.46 | +0.006% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 502.58 | +0.030% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 502.26 | −0.034% | $22.2M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.39 | −0.008% | $303K | $713K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.42 | −0.002% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.33 | −0.020% | $511K | $468K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 502.59 | +0.032% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.49 | +0.012% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.19 | −0.048% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 502.49 | +0.012% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.48 | +0.009% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0128% | 1h | 502.80 | +0.074% | $1.2M | $506K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.24 | +0.161% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0545% | 4h | 502.75 | +0.064% | $102K | $244K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
Phoenix MSFT
QFEX MSFT-USD
Hotstuff MSFT-PERP
Arcus MSFT-USD
Vest MSFT-USD-PERP
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