MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h +0.088%

Price spread now: Lighter RH against Hotstuff+0.062%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · Lighter RH: Points live · farm boardneeds both histories

The price spread pays, funding is against you. Lighter RH is 0.062% dearer against Hotstuff than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff MSFT-PERP	503.17	0.0088	pay 0.0011% / 1h	15m 21s	$32K	$8K	20x
Short	Lighter RH MSFT	503.48	0.0032	get 0.0004% / 1h	15m 21s	$700K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Hotstuff. 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 HotstuffbpFee Lighter RHbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$11.76
Price spread: +0.062% → 0.000%: $6.16
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$10.6
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; Lighter RH: live order book, 3 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 3 min ago	1.49 bp	1.6 bp −$2	3.5 bp −$35	37.0 bp −$3,701	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.097%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.42	+0.050%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.55	+0.075%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.70	+0.105%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.44	+0.054%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.76	+0.117%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.51	+0.068%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.65	+0.095%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	+0.087%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.61	+0.087%	$19K	$328K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	504.48	+0.260%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.36	+0.038%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.60	+0.085%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.72	+0.109%	$2.2M	$822K	10x	as long as short
BloFin MSFT-USDT	+0.0013%	8h	503.68	+0.101%	$190K	$207K	20x	as long as short
Nado MSFT-PERP	+0.0025%	1h	503.41	+0.047%	$414K	$67K	20x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	503.48	+0.062%	$700K	$2.0M	20x
QFEX MSFT-USD	+0.0039%	1h	503.61	+0.087%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.40	+0.046%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	+0.105%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.15	−0.004%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.30	+0.026%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.56	+0.078%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.13	−0.008%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.55	+0.075%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	+0.022%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERPlong	+0.0088%	1h	503.17	long leg	$32K	$8K	20x
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.014%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.15	−0.004%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.52	+0.070%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.55	+0.075%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	503.71	+0.107%	$1.2M	$517K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.173%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0701%	4h	503.63	+0.091%	$102K	$244K	10x	as long as short