Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.006%

Price spread now: Paradex against Lighter RH+0.033%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.033% dearer against Lighter RH than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	501.17	0.0032	pay 0.0004% / 1h	40m 26s	$676K	$2.0M	20x
Short	Paradex MSFT-USD-PERP	501.34	0.0053	get 0.0053% / 8h	3h 40m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.033%Rate

Funding earned: $4.42
Price spread: +0.033% → 0.000%: $3.31
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $3.73
Costs to cover: 0.040%
Break-even: 1.1 days

Slippage unknown: Lighter RH: live order book, 2 min ago; Paradex: no order-book sample. Net counts fees only.

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, 2 min ago	1.10 bp	1.1 bp −$1	4.6 bp −$46	42.9 bp −$4,289	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0760%	4h	501.36	+0.037%	$102K	$242K	10x	as long as short
Nado MSFT-PERP	−0.0110%	1h	501.29	+0.025%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0032%	1h	500.99	−0.036%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.040%	$677K	$450K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0005%	1h	500.99	−0.036%	$22.1M	$8.7M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.29	+0.023%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.31	+0.027%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.46	+0.057%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.14	−0.006%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.074%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.24	+0.014%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.31	+0.028%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.36	+0.037%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.39	+0.044%	$18K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.20	+0.206%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.26	+0.018%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.35	+0.036%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.44	+0.054%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0016%	8h	501.45	+0.056%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.44	+0.054%	$1.1M	$503K	20x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	501.17	long leg	$676K	$2.0M	20x
QFEX MSFT-USD	+0.0035%	1h	501.32	+0.030%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.13	−0.008%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	+0.034%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	−0.020%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.11	−0.012%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.24	+0.014%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	−0.032%	$518K	$452K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0053%	8h	501.34	+0.033%	$221	—	5x
KuCoin MSFTUSDTM	+0.0100%	8h	500.73	−0.088%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.94	−0.046%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.34	+0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.36	+0.037%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.47	+0.060%	$115K	$45K	30x	as long as short