MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0080%/8h= −8.7% APRnext payment −$0.10 per $10,000 · paid last 24h +0.057%

Price spread now: Arcus against Lighter−0.040%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$230.235% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.092%+$9 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.040%, 7d avg −0.018%

Together, before fees+0.079%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Arcus is 0.022% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.018%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.092%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSFT	502.79	0.0120	pay 0.0015% / 1h	47m 15s	$1.2M	$495K	20x
Short	Arcus MSFT-USD	502.59	0.0040	get 0.0005% / 1h	47m 15s	$96K	$111K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$16.74
Price spread: −0.040% → −0.018%: −$2.16
Slippage, 4 orders: −$18.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$42.39
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Arcus: live order book, 1 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 Lighter live order book, 4 min ago	0.80 bp	1.9 bp −$2	5.0 bp −$50	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	3.68 bp	9.8 bp −$10	12.0 bp −$120	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	502.41	−0.076%	$684K	$454K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.59	−0.040%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.71	−0.015%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.67	−0.024%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.50	−0.058%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.85	+0.012%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.52	−0.054%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.72	−0.014%	$4.2M	$2.7M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.78	−0.003%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.91	+0.024%	$18K	$311K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	503.60	+0.161%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.52	−0.054%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.71	−0.016%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.10	+0.062%	$2.2M	$791K	10x	as long as short
Nado MSFT-PERP	+0.0001%	1h	502.52	−0.053%	$412K	$66K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	502.53	−0.052%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	502.85	+0.012%	$190K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.60	−0.038%	$678K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	502.67	−0.024%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USDshort	+0.0040%	1h	502.59	−0.040%	$96K	$111K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	502.69	−0.020%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	502.35	−0.088%	$22.2M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.46	−0.066%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.59	−0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.31	−0.095%	$512K	$463K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.68	−0.022%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	502.38	−0.082%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.57	−0.044%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.63	−0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.67	−0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.73	−0.012%	$55	—	10x	as long as short
Lighter MSFTlong	+0.0120%	1h	502.79	long leg	$1.2M	$495K	20x
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.090%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0752%	4h	502.72	−0.014%	$102K	$244K	10x	as long as short