Funding you earn now, next payment 05:00 UTC+0.0140%/8h= +15.3% APRnext payment +$0.17 per $10,000 · paid last 24h +0.026%
Price spread now: Lighter against Nado+0.004%47s7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$280.277% of the position
Funding, last 3 days (all we have)+0.096%+$10 on $10k
+Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.004%, 7d avg +0.019%
=Together, before fees+0.159%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 47 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 | Nado MSFT-PERP | 503.12 | −0.0108 | get 0.0013% / 1h | 13m 45s | $415K | $64K | 20x |
| Short | Lighter MSFT | 503.14 | 0.0032 | get 0.0004% / 1h | 13m 45s | $1.1M | $504K | 20x |
Nado MSFT-PERP
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Nado. 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
- $29.36
- Price spread: +0.004% → +0.019%
- −$1.45
- Slippage, 4 orders
- −$20.69
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $0.22
- Costs to cover
- 0.277%
- Break-even
- 6.9 days
Slippage from Nado: live order book, 39 min ago; Lighter: 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 Nado live order book, 39 min ago | 0.70 bp | 12.0 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 0.50 bp | 1.5 bp −$1 | 4.6 bp −$46 | 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 | −0.0667% | 4h | 503.09 | −0.006% | $102K | $244K | 10x | as long as short |
| Nado MSFT-PERPlong | −0.0108% | 1h | 503.12 | long leg | $415K | $64K | 20x | |
| Deribit MSFT_USDC-PERPETUAL | −0.0088% | 1h | 502.75 | −0.073% | $27K | $42K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0040% | 1h | 502.83 | −0.057% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 502.66 | −0.091% | $680K | $451K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0012% | 8h | 503.16 | +0.008% | $189K | $205K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0003% | 1h | 502.77 | −0.069% | $22.2M | $8.8M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.04 | −0.016% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.00 | −0.023% | $339K | $884K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.15 | +0.006% | $15.8M | $19.2M | 20x | as long as short |
edgeX MSFTUSDC
Deribit MSFT_USDC-PERPETUAL
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
tradeXYZ xyz:MSFT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MSFTUSDT | 0.0000% | 8h | 502.89 | −0.045% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.29 | +0.034% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.98 | −0.027% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.11 | −0.002% | $4.4M | $2.6M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.14 | +0.004% | $1.3M | $606K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.20 | +0.016% | $19K | $301K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.97 | +0.169% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.93 | −0.037% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.29 | +0.034% | $2.2M | $785K | 10x | as long as short |
| Lighter MSFTshort | +0.0032% | 1h | 503.14 | +0.004% | $1.1M | $504K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 502.88 | −0.047% | $679K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 503.02 | −0.020% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 502.86 | −0.051% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.20 | +0.016% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 502.88 | −0.047% | $11K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.80 | −0.063% | $304K | $705K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.97 | −0.029% | $60K | $3K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 502.99 | −0.026% | $221 | — | 5x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.80 | −0.063% | $512K | $462K | 15x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.84 | −0.055% | $1.6M | $55K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.84 | −0.055% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.03 | −0.018% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.04 | −0.016% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.08 | −0.008% | $115K | $45K | 30x | as long as short |
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Ondo Perps MSFT-USD.P
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP