After costs, if the gap returns to its 7d average, $10k−$11
spread now−0.035%7d average−0.069%fees + slippage, in and out−$14spread needed0.143%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MSFTUSDT | 494.13 | 0.0013 | pay 0.0013% / 8h | 7h 40m | $15.6M | $14.6M | 20x |
| Short | Lighter RH MSFT | 493.95 | 0.0032 | get 0.0004% / 1h | 40m 06s | $655K | $2.1M | 20x |
Binance MSFTUSDT
Lighter RH MSFTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$3.55
- Funding while held
- $0.56
- Slippage, 4 orders
- −$4.34
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$17.32
- Spread needed to break even
- 0.143%
Slippage from Binance: live order book, 2 min ago; Lighter RH: live order book, 4 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0019%
- Per $10,000 a day
- +$0.56
- Average in range /8h
- —
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 Binance live order book, 2 min ago | 0.10 bp | 5.8 bp −$6 | 9.8 bp −$98 | 32.9 bp −$3,293 | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 0.71 bp | 0.7 bp −$1 | 2.8 bp −$28 | 35.8 bp −$3,578 | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International493.02cheapestKuCoin493.54+0.105%Polymarket Perps493.66+0.130%Ondo Perps493.71+0.140%tradeXYZ493.75+0.148%Hotstuff493.76+0.150%Vest493.80+0.158%ApeX Omni493.83+0.164%Gate493.86+0.170%Nado493.87+0.172%Phoenix493.88+0.174%
Coinbase International
KuCoin
Polymarket Perps
Ondo Perps
tradeXYZ
Hotstuff
Vest
ApeX Omni
Gate
Nado
PhoenixLighter RH493.95+0.189%
Deribit493.97+0.193%Paradex493.99+0.196%Aevo494.05+0.208%Lighter494.05+0.209%OKX494.05+0.209%SoDEX494.05+0.209%Arcus494.06+0.211%Orderly494.06+0.211%QFEX494.08+0.215%edgeX494.08+0.215%Variational Omni494.09+0.217%BloFin494.09+0.217%Extended494.10+0.219%Bybit494.11+0.221%Bitget494.12+0.223%
Deribit
Paradex
Aevo
Lighter
OKX
SoDEX
Arcus
Orderly
QFEX
Variational Omni
BloFin
Extended
Bybit
BitgetBinance494.13+0.224%
Phemex494.18+0.235%HTX494.21+0.241%Aster494.36+0.272%Injective494.42+0.284%SunX494.93+0.387%
Phemex
HTX
Aster
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.224% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.118% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.094% | +0.0050% | 1h | $288K | $479K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.084% | +0.0050% | 1h | $533K | $384K | 15x | as long as short |
| tradeXYZ xyz:MSFT | −0.076% | +0.0050% | 1h | $22.1M | $7.7M | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.074% | −0.0032% | 1h | $40K | — | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.066% | +0.0046% | 1h | — | — | 25x | as long as short |
| ApeX Omni MSFTUSDT | −0.060% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Gate MSFT_USDT | −0.054% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Nado MSFT-PERP | −0.052% | −0.0020% | 1h | $459K | $5K | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phoenix MSFT | −0.050% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| Lighter RH MSFTshort | −0.035% | +0.0032% | 1h | $655K | $2.1M | 20x | |
| Deribit MSFT_USDC-PERPETUAL | −0.031% | 0.0000% | 1h | $27K | $109K | 10x | as long as short |
| Paradex MSFT-USD-PERP | −0.028% | +0.0051% | 8h | $217 | — | 5x | as long as short |
| Aevo MSFT-PERP | −0.016% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Lighter MSFT | −0.015% | +0.0032% | 1h | $1.1M | $536K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | −0.015% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| SoDEX MSFT-USD | −0.015% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Arcus MSFT-USD | −0.013% | +0.0442% | 1h | $112K | $50K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.013% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| QFEX MSFT-USD | −0.009% | +0.0042% | 1h | $1.1M | $3.9M | 10x | as long as short |
| edgeX MSFTUSDC | −0.009% | −0.0734% | 4h | $101K | $243K | 10x | as long as short |
| Variational Omni MSFT | −0.008% | 0.0000% | 8h | $1.2M | $705K | — | as long as short |
| BloFin MSFT-USDT | −0.007% | +0.0014% | 8h | $195K | $161K | 20x | as long as short |
| Extended MSFT_24_5-USD | −0.005% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Bybit MSFTUSDT | −0.003% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| Bitget MSFTUSDT | −0.001% | +0.0001% | 8h | $3.7M | $1.6M | 100x | as long as short |
| Binance MSFTUSDTlong | 0.000% | +0.0013% | 8h | $15.6M | $14.6M | 20x | |
| Phemex MSFTUSDT | +0.011% | 0.0000% | 8h | $2.1M | $539K | 10x | as long as short |
| HTX MSFT-USDT | +0.017% | 0.0000% | 8h | $58K | $232K | 20x | as long as short |
| Aster MSFTUSDT | +0.047% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.060% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| SunX MSFT-USDT | +0.163% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |