After costs, if the gap returns to its 7d average, $10k−$12
spread now+0.046%7d average−0.027%fees + slippage, in and out−$20spread needed0.197%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 499.24 | 0 | get 0.0000% / 1h | 49m 31s | $27K | $114K | 10x |
| Short | Lighter RH MSFT | 499.47 | 0.0032 | get 0.0004% / 1h | 49m 31s | $661K | $2.1M | 20x |
Deribit MSFT_USDC-PERPETUAL
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
- $4.61
- Funding while held
- $0.96
- Slippage, 4 orders
- −$12.7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$14.13
- Spread needed to break even
- 0.197%
Slippage from Deribit: live order book, 6 min ago; Lighter RH: live order book, 5 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0032%
- Per $10,000 a day
- +$0.96
- 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 Deribit live order book, 6 min ago | 0.10 bp | 3.6 bp −$4 | 5.1 bp −$51 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 2.00 bp | 2.4 bp −$2 | 4.3 bp −$43 | 39.0 bp −$3,900 | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.KuCoin499.00cheapestCoinbase International499.03+0.006%Hotstuff499.09+0.018%Polymarket Perps499.14+0.028%Ondo Perps499.18+0.036%tradeXYZ499.22+0.044%Gate499.22+0.044%Variational Omni499.24+0.048%
KuCoin
Coinbase International
Hotstuff
Polymarket Perps
Ondo Perps
tradeXYZ
Gate
Variational OmniDeribit499.24+0.048%
edgeX499.24+0.049%ApeX Omni499.33+0.066%Aster499.35+0.070%HTX499.38+0.076%Nado499.44+0.088%SoDEX499.44+0.088%Bitget499.46+0.092%
ApeX Omni
Aster
HTX
Nado
SoDEX
BitgetLighter RH499.47+0.094%
Orderly499.47+0.094%Phoenix499.49+0.098%Vest499.50+0.100%Aevo499.51+0.103%Paradex499.53+0.105%OKX499.53+0.106%Phemex499.53+0.106%Bybit499.55+0.110%BloFin499.55+0.110%Binance499.56+0.112%Arcus499.58+0.116%Extended499.58+0.117%QFEX499.59+0.118%Lighter499.68+0.136%Injective500.11+0.222%SunX500.23+0.246%
Orderly
Phoenix
Vest
Aevo
Paradex
OKX
Phemex
Bybit
BloFin
Binance
Arcus
Extended
QFEX
Lighter
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.048% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.042% | −0.0056% | 1h | $678K | $355K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.030% | +0.0112% | 1h | $40K | — | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.020% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.012% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| tradeXYZ xyz:MSFT | −0.004% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
| Gate MSFT_USDT | −0.004% | 0.0000% | 8h | $3.1M | $1.4M | 100x | as long as short |
| Variational Omni MSFT | −0.001% | 0.0000% | 8h | $1.3M | $717K | — | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | 0.000% | 0.0000% | 1h | $27K | $114K | 10x | |
| edgeX MSFTUSDC | +0.001% | −0.0722% | 4h | $102K | $244K | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSFTUSDT | +0.018% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Aster MSFTUSDT | +0.022% | 0.0000% | 8h | $157K | $80K | 20x | as long as short |
| HTX MSFT-USDT | +0.028% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Nado MSFT-PERP | +0.040% | −0.0020% | 1h | $448K | $24K | 20x | as long as short |
| SoDEX MSFT-USD | +0.040% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Bitget MSFTUSDT | +0.044% | +0.0005% | 8h | $3.7M | $1.7M | 100x | as long as short |
| Lighter RH MSFTshort | +0.046% | +0.0032% | 1h | $661K | $2.1M | 20x | |
| Orderly PERP_MSFT_USDC_mythos | +0.046% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Phoenix MSFT | +0.050% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.052% | +0.0046% | 1h | — | — | 25x | as long as short |
| Aevo MSFT-PERP | +0.055% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.057% | +0.0050% | 8h | $220 | — | 5x | as long as short |
| OKX MSFT-USDT-SWAP | +0.058% | 0.0000% | 8h | $3.1M | $2.1M | 20x | as long as short |
| Phemex MSFTUSDT | +0.058% | 0.0000% | 8h | $2.1M | $643K | 10x | as long as short |
| Bybit MSFTUSDT | +0.062% | 0.0000% | 8h | $7.3M | $1.5M | 100x | as long as short |
| BloFin MSFT-USDT | +0.062% | −0.0016% | 8h | $194K | $186K | 20x | as long as short |
| Binance MSFTUSDT | +0.064% | 0.0000% | 8h | $15.6M | $16.7M | 20x | as long as short |
| Arcus MSFT-USD | +0.068% | +0.0573% | 1h | $111K | $75K | 10x | as long as short |
| Extended MSFT_24_5-USD | +0.069% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| QFEX MSFT-USD | +0.070% | +0.0044% | 1h | $1.2M | $4.6M | 10x | as long as short |
| Lighter MSFT | +0.088% | +0.0072% | 1h | $1.1M | $537K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.174% | +0.0220% | 1h | $115K | $88K | 30x | as long as short |
| SunX MSFT-USDT | +0.198% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |