Funding you earn now, next payment 02:00 UTC−0.0140%/8h= −15.3% APRnext payment −$0.17 per $10,000 · paid last 24h −0.008%
Price spread now: tradeXYZ against Lighter−0.106%7-day average −0.084% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$250.254% of the position
Funding, last 7 days−0.044%−$4 on $10k
+Price spread, last 7 days−0.002%$0 · spread now −0.106%, 7d avg −0.084%
=Together, before fees−0.045%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and tradeXYZ is 0.021% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.084%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 501.35 | 0.0064 | pay 0.0008% / 1h | 58m 52s | $1.1M | $485K | 20x |
| Short | tradeXYZ xyz:MSFT | 500.82 | −0.0076 | pay 0.0009% / 1h | 58m 52s | $22.1M | $9.2M | 20x |
Lighter MSFT
tradeXYZ xyz:MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$29.34
- Price spread: −0.106% → −0.084%
- −$2.15
- Slippage, 4 orders
- −$7.42
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$56.91
- Costs to cover
- 0.254%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 2 min ago; tradeXYZ: live order book, 10 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 | 0.80 bp | 2.1 bp −$2 | 4.9 bp −$49 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 10 min ago | 0.50 bp | 10.6 bp −$11 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSFTshort | −0.0076% | 1h | 500.82 | −0.106% | $22.1M | $9.2M | 20x | |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 500.76 | −0.118% | $684K | $449K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.44 | +0.017% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.11 | −0.047% | $342K | $905K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.30 | −0.010% | $15.6M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.15 | −0.040% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.21 | −0.028% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.07 | −0.056% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.37 | +0.004% | $3.8M | $2.1M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.26 | −0.018% | $1.3M | $690K | — | 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 MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.40 | +0.010% | $19K | $293K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.06 | +0.142% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.02 | −0.066% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.09 | −0.052% | $58K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.38 | +0.006% | $2.2M | $758K | 10x | as long as short |
| Nado MSFT-PERP | +0.0005% | 1h | 501.20 | −0.030% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0029% | 8h | 501.24 | −0.022% | $188K | $205K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.14 | −0.042% | $617K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0044% | 1h | 501.19 | −0.032% | $1.1M | $5.8M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.28 | −0.014% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 500.84 | −0.102% | $32K | $8K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.88 | −0.094% | $303K | $672K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.15 | −0.040% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.78 | −0.114% | $514K | $503K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0051% | 8h | 501.19 | −0.032% | $221 | — | 5x | as long as short |
| Lighter MSFTlong | +0.0064% | 1h | 501.35 | long leg | $1.1M | $485K | 20x | |
| Phoenix MSFT | +0.0080% | 1h | 501.05 | −0.060% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.19 | −0.032% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.82 | −0.106% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.20 | −0.030% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.19 | −0.033% | $55 | — | 10x | as long as short |
| edgeX MSFTUSDC | +0.0163% | 4h | 501.29 | −0.012% | $102K | $243K | 10x | as long as short |
| Arcus MSFT-USD | +0.0212% | 1h | 501.11 | −0.048% | $97K | $109K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.54 | +0.038% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
Hotstuff MSFT-PERP
Polymarket Perps MSFT-USD
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
edgeX MSFTUSDC
Arcus MSFT-USD
Injective MSFT/USDC PERP