Funding you earn now, next payment 07:00 UTC−0.0086%/8h= −9.4% APRnext payment −$0.11 per $10,000 · paid last 24h −0.009%
Price spread now: Polymarket Perps against Lighter−0.083%45s7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$150.149% of the position
Funding, last 7 days−0.001%$0 on $10k
+Price spread, last 7 days+0.035%+$3 · spread now −0.083%, 7d avg −0.065%
=Together, before fees+0.034%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.065%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 504.09 | 0.0136 | pay 0.0017% / 1h | 43m 36s | $1.2M | $514K | 20x |
| Short | Polymarket Perps MSFT-USD | 503.67 | 0.0050 | get 0.0006% / 1h | 43m 36s | $303K | $718K | 10x |
Lighter MSFT
Polymarket Perps MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$18.06
- Price spread: −0.083% → −0.065%
- −$1.88
- Slippage, 4 orders
- −$6.89
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$34.83
- Costs to cover
- 0.149%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 2 min ago; Polymarket Perps: live order book, 64 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 | 0.9 bp −$1 | 7.2 bp −$72 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 64 min ago | 1.19 bp | 6.9 bp −$7 | 8.0 bp −$80 | 8.6 bp −$863 | 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 | −0.0048% | 1h | 503.66 | −0.085% | $682K | $500K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.79 | −0.059% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.93 | −0.032% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.03 | −0.012% | $15.8M | $19.6M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.80 | −0.058% | $7.3M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.13 | +0.008% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.83 | −0.052% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.07 | −0.004% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.96 | −0.026% | $1.3M | $499K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.05 | −0.008% | $18K | $327K | 10x | as long as short |
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 504.80 | +0.141% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.67 | −0.083% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.96 | −0.026% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.14 | +0.010% | $2.2M | $820K | 10x | as long as short |
| Nado MSFT-PERP | +0.0012% | 1h | 503.71 | −0.075% | $415K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0020% | 8h | 503.99 | −0.020% | $190K | $207K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.82 | −0.054% | $689K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.94 | −0.030% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.73 | −0.071% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.97 | −0.024% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.56 | −0.105% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USDshort | +0.0050% | 1h | 503.67 | −0.083% | $303K | $718K | 10x | |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.82 | −0.054% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.54 | −0.109% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 503.94 | −0.030% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.77 | −0.063% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.45 | −0.127% | $1.6M | $58K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.69 | −0.079% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.90 | −0.038% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.94 | −0.030% | $55 | — | 10x | as long as short |
| Lighter MSFTlong | +0.0136% | 1h | 504.09 | long leg | $1.2M | $514K | 20x | |
| Hotstuff MSFT-PERP | +0.0144% | 1h | 503.58 | −0.101% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.13 | +0.008% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0978% | 4h | 503.91 | −0.035% | $103K | $244K | 10x | as long as short |
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
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
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC