MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.033%

Price spread now: Lighter against Coinbase International+0.072%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$7as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.072%, 7d avg +0.097%

Together, before fees+0.122%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.025% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.072% now, against its 7-day average of +0.097%). If the spread goes back, that is −$3 on $10k: about 2.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.141% in total) that is about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	503.07	0	get 0.0000% / 1h	3m 45s	$687K	$454K	10x
Short	Lighter MSFT	503.43	0.0032	get 0.0004% / 1h	3m 45s	$1.2M	$532K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.072%Rate

Funding earned: $6.72
Price spread: +0.072% → +0.097%: −$2.54
Slippage, 4 orders: −$10.83
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.65
Costs to cover: 0.208%
Break-even: 24.3 days

Slippage from Coinbase International: live order book, 34 min ago; Lighter: live order book, 2 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 Coinbase International live order book, 34 min ago	3.18 bp	8.7 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	0.99 bp	1.7 bp −$2	4.3 bp −$43	doesn't fit	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
edgeX MSFTUSDC	−0.0585%	4h	503.54	+0.094%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0056%	1h	503.40	+0.066%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0009%	1h	503.04	−0.006%	$22.4M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.37	+0.060%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.37	+0.060%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.52	+0.089%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.28	+0.042%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.59	+0.103%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.27	+0.040%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.49	+0.083%	$3.8M	$2.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.54	+0.093%	$1.3M	$401K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.57	+0.099%	$18K	$321K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.29	+0.243%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.30	+0.046%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTXlong	0.0000%	1h	503.07	long leg	$687K	$454K	10x
HTX MSFT-USDT	0.0000%	8h	503.41	+0.068%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.61	+0.107%	$2.2M	$817K	10x	as long as short
BloFin MSFT-USDT	+0.0012%	8h	503.61	+0.107%	$191K	$206K	20x	as long as short
Lighter MSFTshort	+0.0032%	1h	503.43	+0.072%	$1.2M	$532K	20x
Lighter RH MSFT	+0.0032%	1h	503.36	+0.058%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.51	+0.087%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.30	+0.046%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.64	+0.113%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.20	+0.026%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.29	+0.044%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.14	+0.014%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.42	+0.070%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	+0.042%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	503.06	−0.002%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.03	−0.008%	$1.6M	$78K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.21	+0.028%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.38	+0.062%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.40	+0.066%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.145%	$115K	$45K	30x	as long as short