Funding you earn now, next payment 02:00 UTC+0.0079%/8h= +8.6% APRnext payment +$0.10 per $10,000 · paid last 24h +0.008%
Price spread now: Lighter against Deribit+0.044%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.044% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 501.17 | 0.0049 | pay 0.0006% / 1h | 39m 39s | $27K | $41K | 10x |
| Short | Lighter MSFT | 501.39 | 0.0128 | get 0.0016% / 1h | 39m 39s | $1.1M | $489K | 20x |
Deribit MSFT_USDC-PERPETUAL
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Deribit. 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
- $16.51
- Price spread: +0.044% → 0.000%
- $4.39
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $13.9
- Costs to cover
- 0.070%
- Break-even
- 1.1 days
Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 1 min ago. Net counts fees only.
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 Deribit no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 1 min ago | 0.80 bp | 1.7 bp −$2 | 6.8 bp −$68 | doesn't fit | doesn't fit |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERP | −0.0040% | 1h | 500.90 | −0.054% | $32K | $8K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0028% | 8h | 501.33 | +0.032% | $189K | $204K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 500.87 | −0.060% | $684K | $451K | 10x | as long as short |
| Nado MSFT-PERP | −0.0016% | 1h | 501.04 | −0.026% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.46 | +0.059% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.24 | +0.014% | $342K | $894K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.29 | +0.024% | $15.6M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.19 | +0.004% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.50 | +0.066% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.03 | −0.028% | $3.1M | $1.6M | 100x | as long as short |
Hotstuff MSFT-PERP
BloFin MSFT-USDT
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_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.30 | +0.026% | $4.3M | $2.4M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.10 | −0.015% | $1.3M | $677K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.20 | +0.007% | $19K | $294K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.190% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.05 | −0.024% | $58K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.53 | +0.072% | $2.2M | $758K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.09 | −0.016% | $618K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 501.24 | +0.014% | $1.2M | $5.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.07 | −0.020% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.12 | −0.010% | — | $1K | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | +0.0049% | 1h | 501.17 | long leg | $27K | $41K | 10x | |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.91 | −0.052% | $22.1M | $9.2M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.95 | −0.044% | $303K | $672K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.18 | +0.002% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.93 | −0.048% | $513K | $511K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 501.20 | +0.007% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.10 | −0.014% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.95 | −0.044% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.67 | −0.100% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.22 | +0.010% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.24 | +0.014% | $55 | — | 10x | as long as short |
| Lighter MSFTshort | +0.0128% | 1h | 501.39 | +0.044% | $1.1M | $489K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.56 | +0.078% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0251% | 4h | 501.21 | +0.009% | $102K | $241K | 10x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
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
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC