Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: Lighter RH against KuCoin+0.073%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$1691.692% of the position

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.073%, 7d avg +0.021%

Together, before fees−0.138%+ Points / potential airdropLighter RH: Points live · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.053% dearer against KuCoin than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of +0.021%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	503.72	0.0100	pay 0.0100% / 8h	2h 10m	$1.6M	$57K	20x
Short	Lighter RH MSFT	504.09	0.0032	get 0.0004% / 1h	10m 05s	$683K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against KuCoin. 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 KuCoinbpFee Lighter RHbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$14.28
Price spread: +0.073% → +0.021%: $5.28
Slippage, 4 orders: −$157.25
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$178.25
Costs to cover: 1.692%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	8.34 bp	52.0 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.09 bp	1.1 bp −$1	3.4 bp −$34	40.2 bp −$4,024	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	503.76	+0.008%	$684K	$493K	10x	as long as short
Nado MSFT-PERP	−0.0021%	1h	504.04	+0.063%	$415K	$68K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.07	+0.070%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.09	+0.073%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.24	+0.103%	$15.9M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.00	+0.056%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.22	+0.099%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.08	+0.071%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.22	+0.099%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.20	+0.095%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	504.36	+0.127%	$18K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.99	+0.252%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.03	+0.062%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.21	+0.097%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.48	+0.151%	$2.2M	$814K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	+0.069%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0018%	8h	504.27	+0.109%	$189K	$207K	20x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	504.09	+0.073%	$683K	$2.0M	20x
Hotstuff MSFT-PERP	+0.0032%	1h	503.85	+0.026%	$33K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.18	+0.091%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.05	+0.066%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.23	+0.101%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.86	+0.028%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.91	+0.038%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.08	+0.071%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.97	+0.050%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	504.12	+0.080%	$222	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	504.25	+0.105%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	503.72	long leg	$1.6M	$57K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.73	+0.002%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.13	+0.081%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.14	+0.084%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.42	+0.139%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0400%	4h	504.30	+0.116%	$103K	$242K	10x	as long as short