MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0128%/8h= +14.0% APRnext payment +$0.16 per $10,000 · paid last 24h −0.057%

Price spread now: Lighter against Arcus+0.054%7-day average +0.018% · 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−$19as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.054%, 7d avg +0.018%

Together, before fees−0.093%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.035% dearer against Arcus than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.018%. Mind the row above: over the last 4 days funding on this pair cost −0.091%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	503.49	0.0040	pay 0.0005% / 1h	20m 32s	$97K	$110K	10x
Short	Lighter MSFT	503.76	0.0168	get 0.0021% / 1h	20m 32s	$1.2M	$517K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now +0.054%Rate

Funding earned: $26.82
Price spread: +0.054% → +0.018%: $3.52
Slippage, 4 orders: −$18.04
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: $7.8
Costs to cover: 0.225%
Break-even: 5.0 days

Slippage from Arcus: live order book, 22 min ago; Lighter: 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 Arcus live order book, 22 min ago	3.38 bp	8.7 bp −$9	13.6 bp −$136	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.79 bp	1.4 bp −$1	5.8 bp −$58	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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.034%	$682K	$500K	10x	as long as short
BloFin MSFT-USDT	−0.0020%	8h	503.83	+0.068%	$191K	$206K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	503.29	−0.040%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.44	−0.011%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.58	+0.018%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.70	+0.042%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.46	−0.006%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.79	+0.060%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.55	+0.012%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.76	+0.054%	$3.8M	$3.0M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.75	+0.051%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.76	+0.054%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.59	+0.218%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.71	+0.044%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.79	+0.060%	$2.2M	$822K	10x	as long as short
Nado MSFT-PERP	+0.0028%	1h	503.23	−0.051%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.46	−0.006%	$701K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.69	+0.040%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	503.49	long leg	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	503.72	+0.046%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.32	−0.034%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.45	−0.008%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.72	+0.046%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.36	−0.026%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	503.62	+0.025%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	−0.022%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.12	−0.073%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.39	−0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.56	+0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.64	+0.029%	$55	—	10x	as long as short
Lighter MSFTshort	+0.0168%	1h	503.76	+0.054%	$1.2M	$517K	20x
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.109%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0465%	1h	503.64	+0.030%	$27K	$43K	10x	as long as short
edgeX MSFTUSDC	+0.0765%	4h	503.60	+0.022%	$102K	$243K	10x	as long as short