Funding you earn now, next payment 03:00 UTC+0.0162%/8h= +17.7% APRnext payment +$0.20 per $10,000 · paid last 24h +0.010%
Price spread now: Lighter RH against Nado−0.004%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−$20as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Funding, last 3 days (all we have)+0.069%+$7 on $10k
+Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.004%, 7d avg −0.026%
=Together, before fees+0.250%+ Points / potential airdropNado: Active · Lighter RH: Points live · farm board+$25 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter RH is 0.021% dearer against Nado than usual: you sell high and buy low: +$2 more if the spread 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 | Nado MSFT-PERP | 501.42 | −0.0130 | get 0.0016% / 1h | 47m 55s | $414K | $64K | 20x |
| Short | Lighter RH MSFT | 501.40 | 0.0032 | get 0.0004% / 1h | 47m 55s | $668K | $2.0M | 20x |
Nado MSFT-PERP
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $33.99
- Price spread: −0.004% → −0.026%
- $2.13
- Slippage, 4 orders
- −$15.28
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $13.85
- Costs to cover
- 0.223%
- Break-even
- 4.1 days
Slippage from Nado: live order book, 15 min ago; Lighter RH: live order book, 5 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, 15 min ago | 0.70 bp | 13.7 bp −$14 | 29.9 bp −$299 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 1.40 bp | 1.6 bp −$2 | 4.3 bp −$43 | 40.0 bp −$4,004 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERPlong | −0.0130% | 1h | 501.42 | long leg | $414K | $64K | 20x | |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 501.24 | −0.036% | $679K | $456K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0008% | 1h | 501.30 | −0.024% | $22.1M | $9.1M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.70 | +0.055% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.57 | +0.029% | $338K | $891K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.69 | +0.054% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.64 | +0.044% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.67 | +0.050% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.39 | −0.006% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.61 | +0.038% | $4.5M | $2.5M | 100x | as long as short |
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_USDT
Bitget MSFTUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.49 | +0.013% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.60 | +0.036% | $19K | $293K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.29 | +0.173% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.27 | −0.030% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.38 | −0.008% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.71 | +0.058% | $2.2M | $763K | 10x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.40 | −0.004% | $1.1M | $5.7M | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.65 | +0.046% | $1.1M | $454K | 20x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 501.40 | −0.004% | $668K | $2.0M | 20x | |
| Arcus MSFT-USD | +0.0040% | 1h | 501.37 | −0.010% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.59 | +0.034% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.18 | −0.048% | $303K | $646K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.53 | +0.022% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.12 | −0.060% | $522K | $481K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.48 | +0.012% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.28 | −0.028% | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 501.12 | −0.060% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.51 | +0.018% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.24 | −0.036% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.44 | +0.004% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.44 | +0.004% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.81 | +0.077% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0799% | 4h | 501.52 | +0.020% | $102K | $243K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
Lighter MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC