Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.009%

Price spread now: Bitget against Lighter RH+0.026%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Lighter RH Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.026%, 7d avg +0.065%

Together, before fees−0.014%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.039% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	501.58	0.0032	pay 0.0004% / 1h	16m 27s	$624K	$2.0M	20x
Short	Bitget MSFTUSDT	501.71	0	get 0.0000% / 8h	6h 16m	$4.5M	$2.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 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 Lighter RHbpFee BitgetbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$6.72
Price spread: +0.026% → +0.065%: −$3.95
Slippage, 4 orders: −$10.92
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.59
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 1 min ago; Bitget: live order book, 2 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, 1 min ago	1.30 bp	1.5 bp −$1	4.3 bp −$43	42.6 bp −$4,263	doesn't fit
Sell Bitget live order book, 2 min ago	1.00 bp	10.5 bp −$10	15.4 bp −$154	38.1 bp −$3,811	doesn't fit

MSFT on 33 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	−0.0016%	1h	501.22	−0.072%	$679K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0003%	1h	501.59	+0.003%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.81	+0.046%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.61	+0.006%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.70	+0.024%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.70	+0.024%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.90	+0.064%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.57	−0.002%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	501.71	+0.026%	$4.5M	$2.5M	100x
Variational Omni MSFT	0.0000%	8h	501.69	+0.022%	$1.3M	$682K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.75	+0.034%	$18K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.54	+0.191%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.63	+0.010%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.62	+0.008%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.05	+0.094%	$2.2M	$765K	10x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	501.58	long leg	$624K	$2.0M	20x
QFEX MSFT-USD	+0.0038%	1h	501.64	+0.012%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.51	−0.014%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.71	+0.026%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.42	−0.032%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.39	−0.038%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.31	−0.054%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.65	+0.014%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.46	−0.024%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.65	+0.014%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.60	+0.004%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.47	−0.022%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.29	−0.058%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.62	+0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	+0.014%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.83	+0.050%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.040%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0345%	4h	501.68	+0.019%	$102K	$243K	10x	as long as short