Funding you earn now, next payment 07:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.013%
Price spread now: Binance against Lighter+0.001%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$160.157% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 7 days+0.006%+$1 · spread now +0.001%, 7d avg +0.045%
=Together, before fees−0.077%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.044% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.045%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 503.77 | 0.0152 | pay 0.0019% / 1h | 13m 17s | $1.2M | $517K | 20x |
| Short | Binance MSFTUSDT | 503.77 | 0 | get 0.0000% / 8h | 1h 13m | $15.8M | $19.7M | 20x |
Lighter MSFT
Binance MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Lighter. 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
- −$31.92
- Price spread: +0.001% → +0.045%
- −$4.43
- Slippage, 4 orders
- −$5.68
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$52.03
- Costs to cover
- 0.157%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 13 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 Lighter live order book, 3 min ago | 0.99 bp | 1.9 bp −$2 | 8.3 bp −$83 | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 0.10 bp | 5.1 bp −$5 | 12.1 bp −$121 | 60.7 bp −$6,072 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0160% | 4h | 503.60 | −0.033% | $102K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | −0.022% | $682K | $500K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.48 | −0.058% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.59 | −0.037% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDTshort | 0.0000% | 8h | 503.77 | +0.001% | $15.8M | $19.7M | 20x | |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.53 | −0.048% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.85 | +0.016% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.54 | −0.046% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.67 | −0.020% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.61 | −0.032% | $1.3M | $499K | — | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Bybit 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 | 503.74 | −0.007% | $19K | $328K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.48 | +0.141% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.37 | −0.079% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.70 | −0.014% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.75 | −0.004% | $2.2M | $822K | 10x | as long as short |
| Nado MSFT-PERP | +0.0024% | 1h | 503.39 | −0.075% | $414K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0028% | 8h | 503.80 | +0.006% | $190K | $207K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.52 | −0.050% | $700K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.61 | −0.032% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.39 | −0.075% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.69 | −0.016% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.18 | −0.117% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.34 | −0.085% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.59 | −0.036% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.19 | −0.115% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 503.56 | −0.041% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.28 | −0.097% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.10 | −0.133% | $1.6M | $60K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.15 | −0.123% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.55 | −0.044% | $8K | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0104% | 1h | 503.19 | −0.115% | $32K | $8K | 20x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.65 | −0.025% | $55 | — | 10x | as long as short |
| Lighter MSFTlong | +0.0152% | 1h | 503.77 | long leg | $1.2M | $517K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | +0.054% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Hotstuff MSFT-PERP
Aevo MSFT-PERP
Injective MSFT/USDC PERP