MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0064%/8h= +7.0% APRnext payment +$0.08 per $10,000 · paid last 24h +0.016%

Price spread now: Lighter RH against Coinbase International+0.016%7-day average +0.055% · 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−$21as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on Coinbase International Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.016%, 7d avg +0.055%

Together, before fees+0.019%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.039% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.055%). If the spread goes back, that is −$4 on $10k: about 2.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	500.97	−0.0032	get 0.0004% / 1h	42m 58s	$677K	$450K	10x
Short	Lighter RH MSFT	501.05	0.0032	get 0.0004% / 1h	42m 58s	$676K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.016%Rate

Funding earned: $13.44
Price spread: +0.016% → +0.055%: −$3.93
Slippage, 4 orders: −$7.12
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$7.6
Costs to cover: 0.171%
Break-even: 11.0 days

Slippage from Coinbase International: live order book, 10 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 Coinbase International live order book, 10 min ago	1.70 bp	7.4 bp −$7	11.1 bp −$111	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.10 bp	1.8 bp −$2	4.0 bp −$40	40.8 bp −$4,085	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	−0.0253%	4h	501.35	+0.075%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0115%	1h	501.29	+0.063%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0032%	1h	500.97	long leg	$677K	$450K	10x
tradeXYZ xyz:MSFT	−0.0012%	1h	500.97	0.000%	$22.1M	$8.7M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.21	+0.047%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.29	+0.064%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.42	+0.090%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.10	+0.026%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.114%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.23	+0.052%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.30	+0.066%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	+0.073%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.39	+0.084%	$18K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.20	+0.246%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.07	+0.020%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.36	+0.078%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.52	+0.110%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0018%	8h	501.47	+0.100%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.30	+0.066%	$1.1M	$503K	20x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	501.05	+0.016%	$676K	$2.0M	20x
Hotstuff MSFT-PERP	+0.0032%	1h	500.97	0.000%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.30	+0.066%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.11	+0.028%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.39	+0.084%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	+0.020%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.10	+0.026%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.24	+0.054%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	+0.008%	$518K	$452K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.30	+0.066%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.65	−0.064%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.17	+0.040%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.24	+0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.26	+0.058%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.54	+0.114%	$115K	$45K	30x	as long as short