MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.24 per $10,000 · paid last 24h −0.056%

Price spread now: Lighter RH against Injective−0.380%67s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.239% of the position

Long on Injective Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.374%−$37 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now −0.380%, 7d avg −0.009%

Together, before fees−0.560%+ Points / potential airdropLighter RH: Points live · farm board−$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter RH is 0.371% cheaper against Injective than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	503.24	0.0220	pay 0.0028% / 1h	26m 03s	$115K	$45K	30x
Short	Lighter RH MSFT	501.33	0.0032	get 0.0004% / 1h	26m 03s	$685K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Injective. 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 InjectivebpFee Lighter RHbpOrdersPrice spread, now −0.380%Rate

Funding earned: −$39.48
Price spread: −0.380% → −0.009%: −$37.09
Slippage, 4 orders: −$23.83
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$100.42
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Injective: live order book, 38 min ago; Lighter RH: live order book, 2 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 Injective live order book, 38 min ago	9.97 bp	10.0 bp −$10	10.0 bp −$100	65077.8 bp −$6.51M	365388.2 bp −$182.69M
Sell Lighter RH live order book, 2 min ago	1.79 bp	2.1 bp −$2	3.8 bp −$38	38.1 bp −$3,813	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	−0.0064%	1h	501.24	−0.397%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0031%	1h	501.37	−0.372%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0021%	8h	501.70	−0.306%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.68	−0.310%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.42	−0.362%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.55	−0.336%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.41	−0.364%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	−0.290%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.36	−0.374%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.60	−0.326%	$4.5M	$2.5M	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	501.44	−0.357%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.69	−0.308%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.36	−0.175%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.26	−0.393%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.36	−0.374%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.46	−0.354%	$2.2M	$767K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.40	−0.366%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	501.33	−0.380%	$685K	$2.0M	20x
Arcus MSFT-USD	+0.0040%	1h	501.45	−0.356%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.52	−0.342%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.21	−0.403%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.17	−0.411%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	−0.405%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.40	−0.366%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.39	−0.368%	$524K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	501.51	−0.345%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.44	−0.358%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.43	−0.360%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.49	−0.348%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.44	−0.358%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	−0.355%	$55	—	10x	as long as short
Lighter MSFT	+0.0184%	1h	501.66	−0.314%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	503.24	long leg	$115K	$45K	30x
edgeX MSFTUSDC	+0.0660%	4h	501.74	−0.298%	$102K	$244K	10x	as long as short