Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.003%
Price spread now: Lighter RH against Deribit−0.004%7-day average — · you buy dearer than you sell
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 RH: Points live · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 501.07 | 0 | get 0.0000% / 1h | 43m 14s | $27K | $42K | 10x |
| Short | Lighter RH MSFT | 501.05 | 0.0032 | get 0.0004% / 1h | 43m 14s | $676K | $2.0M | 20x |
Deribit MSFT_USDC-PERPETUAL
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $6.72
- Price spread: −0.004% → 0.000%
- −$0.4
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$0.68
- Costs to cover
- 0.070%
- Break-even
- 7.7 days
Slippage unknown: Deribit: no order-book sample; Lighter RH: live order book, 5 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 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 |
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0253% | 4h | 501.35 | +0.055% | $102K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0115% | 1h | 501.29 | +0.043% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.020% | $677K | $450K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0014% | 1h | 500.97 | −0.020% | $22.1M | $8.7M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.26 | +0.037% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.24 | +0.034% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.39 | +0.065% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.10 | +0.006% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.54 | +0.094% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.23 | +0.032% | $3.1M | $1.7M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
tradeXYZ xyz:MSFT
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 | +0.046% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.34 | +0.053% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.39 | +0.064% | $18K | $298K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.20 | +0.226% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | 0.0000% | 1h | 501.07 | long leg | $27K | $42K | 10x | |
| HTX MSFT-USDT | 0.0000% | 8h | 501.36 | +0.058% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.52 | +0.090% | $2.2M | $770K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0018% | 8h | 501.47 | +0.080% | $189K | $204K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.30 | +0.046% | $1.1M | $503K | 20x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 501.05 | −0.004% | $676K | $2.0M | 20x | |
| Hotstuff MSFT-PERP | +0.0032% | 1h | 500.97 | −0.020% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.30 | +0.046% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.11 | +0.008% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.39 | +0.064% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.07 | 0.000% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.10 | +0.006% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.034% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.01 | −0.012% | $518K | $452K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.30 | +0.046% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.65 | −0.084% | $1.6M | $52K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.17 | +0.020% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.24 | +0.034% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.26 | +0.038% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.54 | +0.094% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Hotstuff MSFT-PERP
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix 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
Injective MSFT/USDC PERP