Funding you earn now, next payment 00:00 UTC−0.0254%/8h= −27.8% APRnext payment −$0.32 per $10,000 · paid last 24h −0.066%
Price spread now: Lighter RH against Arcus−0.006%7-day average −0.028% · 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−$14as in the Price arb table
costs, in and out, $10k−$160.164% of the position
Funding, last 3 days (all we have)−0.111%−$11 on $10k
+Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.006%, 7d avg −0.028%
=Together, before fees−0.090%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.022% dearer against Arcus than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.028%): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 3 days (−0.111% in total) that is about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MSFT-USD | 502.15 | 0.0286 | pay 0.0036% / 1h | 38m 30s | $97K | $109K | 10x |
| Short | Lighter RH MSFT | 502.12 | 0.0032 | get 0.0004% / 1h | 38m 30s | $636K | $2.1M | 20x |
Arcus MSFT-USD
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Arcus. 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
- −$53.31
- Price spread: −0.006% → −0.028%
- $2.25
- Slippage, 4 orders
- −$11.86
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$67.42
- Costs to cover
- 0.164%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 39 min ago; Lighter RH: live order book, 4 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, 39 min ago | 2.89 bp | 5.3 bp −$5 | 7.7 bp −$77 | 17.6 bp −$1,761 | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 1.10 bp | 1.4 bp −$1 | 5.8 bp −$58 | 46.2 bp −$4,616 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin MSFT-USDT | −0.0027% | 8h | 502.26 | +0.022% | $188K | $209K | 20x | as long as short |
| Nado MSFT-PERP | −0.0018% | 1h | 501.95 | −0.040% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 501.76 | −0.078% | $687K | $450K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.21 | +0.013% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.15 | +0.001% | $337K | $392K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.24 | +0.017% | $15.7M | $19.1M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.27 | +0.024% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.04 | −0.022% | $3.2M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.27 | +0.024% | $3.8M | $2.3M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 502.20 | +0.010% | $1.3M | $692K | — | as long as short |
BloFin MSFT-USDT
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.15 | 0.000% | $18K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.01 | +0.171% | $6K | $4.3M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.13 | −0.004% | $59K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.33 | +0.036% | $2.2M | $748K | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0029% | 1h | 502.05 | −0.020% | $27K | $101K | 10x | as long as short |
| Bybit MSFTUSDT | +0.0029% | 8h | 502.30 | +0.030% | $7.4M | $1.7M | 100x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 502.12 | −0.006% | $636K | $2.1M | 20x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 502.13 | −0.004% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 501.81 | −0.068% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0049% | 1h | 502.12 | −0.006% | $1.1M | $5.8M | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.87 | −0.056% | $22.3M | $9.4M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.76 | −0.078% | $303K | $678K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.17 | +0.004% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.80 | −0.070% | $529K | $494K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 502.18 | +0.005% | $221 | — | 5x | as long as short |
| edgeX MSFTUSDC | +0.0075% | 4h | 502.21 | +0.011% | $102K | $242K | 10x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.94 | −0.042% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.70 | −0.090% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.72 | −0.086% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 502.19 | +0.008% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.18 | +0.007% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 502.36 | +0.042% | $1.1M | $585K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.57 | +0.084% | $115K | $45K | 30x | as long as short |
| Arcus MSFT-USDlong | +0.0286% | 1h | 502.15 | long leg | $97K | $109K | 10x |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Deribit MSFT_USDC-PERPETUAL
Bybit MSFTUSDT
Vest MSFT-USD-PERP
Hotstuff MSFT-PERP
QFEX MSFT-USD
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
edgeX MSFTUSDC
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP