Funding you earn now, next payment 06:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.013%
Price spread now: Binance against Lighter+0.012%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$170.167% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 7 days−0.015%−$1 · spread now +0.012%, 7d avg +0.044%
=Together, before fees−0.097%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.032% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.044%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 504.11 | 0.0088 | pay 0.0011% / 1h | 4m 01s | $1.2M | $516K | 20x |
| Short | Binance MSFTUSDT | 504.17 | 0 | get 0.0000% / 8h | 2h 04m | $15.8M | $19.6M | 20x |
Lighter MSFT
Binance MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Lighter. 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
- −$18.48
- Price spread: +0.012% → +0.044%
- −$3.22
- Slippage, 4 orders
- −$6.69
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$38.39
- Costs to cover
- 0.167%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 2 min ago; Binance: live order book, 7 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, 2 min ago | 0.50 bp | 1.3 bp −$1 | 8.8 bp −$88 | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 0.10 bp | 7.3 bp −$7 | 11.9 bp −$119 | 43.2 bp −$4,324 | 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 | −0.0149% | 4h | 504.25 | +0.028% | $103K | $243K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0064% | 1h | 503.68 | −0.085% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.75 | −0.071% | $683K | $494K | 10x | as long as short |
| Nado MSFT-PERP | −0.0014% | 1h | 503.78 | −0.065% | $415K | $68K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.86 | −0.050% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.03 | −0.016% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDTshort | 0.0000% | 8h | 504.17 | +0.012% | $15.8M | $19.6M | 20x | |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.85 | −0.052% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.10 | −0.002% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.85 | −0.052% | $3.1M | $1.8M | 100x | as long as short |
edgeX MSFTUSDC
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
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 | 504.14 | +0.006% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.10 | −0.003% | $1.3M | $499K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.25 | +0.029% | $18K | $324K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.91 | +0.159% | $6K | $3.9M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.02 | −0.018% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.39 | +0.056% | $2.2M | $815K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0006% | 8h | 504.19 | +0.016% | $188K | $207K | 20x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.87 | −0.048% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.91 | −0.040% | $711K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 504.12 | +0.002% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.92 | −0.038% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.03 | −0.016% | — | $1K | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0048% | 1h | 503.85 | −0.052% | $27K | $43K | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.69 | −0.083% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.80 | −0.061% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.91 | −0.040% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.83 | −0.056% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0059% | 8h | 503.99 | −0.024% | $222 | — | 5x | as long as short |
| Lighter MSFTlong | +0.0088% | 1h | 504.11 | long leg | $1.2M | $516K | 20x | |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.64 | −0.093% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.67 | −0.087% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.02 | −0.018% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.05 | −0.011% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.48 | +0.073% | $116K | $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
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Deribit MSFT_USDC-PERPETUAL
tradeXYZ xyz: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