Funding you earn now, next payment 05:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h +0.071%
Price spread now: Arcus against Lighter RH−0.016%7-day average +0.026% · 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−$27as in the Price arb table
costs, in and out, $10k−$230.232% of the position
Funding, last 4 days (all we have)+0.117%+$12 on $10k
+Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.016%, 7d avg +0.026%
=Together, before fees+0.108%+ Points / potential airdropLighter RH: Points live · farm board+$11 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.042% cheaper against Lighter RH than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.026%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 501.18 | 0.0032 | pay 0.0004% / 1h | 44m 14s | $676K | $2.0M | 20x |
| Short | Arcus MSFT-USD | 501.10 | 0.0040 | get 0.0005% / 1h | 44m 14s | $96K | $111K | 10x |
Lighter RH MSFT
Arcus MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Lighter RH. 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
- $1.74
- Price spread: −0.016% → +0.026%
- −$4.23
- Slippage, 4 orders
- −$18.67
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$25.65
- Costs to cover
- 0.232%
- Break-even
- 110.3 days
Slippage from Lighter RH: live order book, 4 min ago; Arcus: live order book, 9 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 RH live order book, 4 min ago | 1.10 bp | 1.2 bp −$1 | 4.2 bp −$42 | 42.6 bp −$4,259 | doesn't fit |
| Sell Arcus live order book, 9 min ago | 4.09 bp | 10.9 bp −$11 | 12.5 bp −$125 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0253% | 4h | 501.35 | +0.033% | $102K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0116% | 1h | 501.29 | +0.022% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.042% | $677K | $450K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0016% | 1h | 500.97 | −0.042% | $22.1M | $8.7M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.28 | +0.020% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.31 | +0.026% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.45 | +0.054% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.17 | −0.002% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.54 | +0.072% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.23 | +0.010% | $3.1M | $1.7M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
tradeXYZ xyz:MSFT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
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 | 501.30 | +0.024% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.34 | +0.031% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.14 | −0.008% | $19K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.17 | +0.198% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.18 | 0.000% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.35 | +0.034% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.52 | +0.068% | $2.2M | $770K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0006% | 8h | 501.40 | +0.044% | $189K | $204K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.43 | +0.050% | $1.1M | $503K | 20x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 501.18 | long leg | $676K | $2.0M | 20x | |
| Hotstuff MSFT-PERP | +0.0032% | 1h | 500.97 | −0.042% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.30 | +0.024% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USDshort | +0.0040% | 1h | 501.10 | −0.016% | $96K | $111K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.34 | +0.032% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.07 | −0.022% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.02 | −0.032% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.012% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.01 | −0.034% | $518K | $452K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.31 | +0.025% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.75 | −0.086% | $1.6M | $52K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.15 | −0.006% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.31 | +0.026% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.33 | +0.030% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.54 | +0.072% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Hotstuff MSFT-PERP
QFEX MSFT-USD
Vest MSFT-USD-PERP
Phoenix 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