Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.022%
Price spread now: Bybit against Lighter−0.026%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$250.246% of the position
Funding, last 7 days−0.105%−$10 on $10k
+Price spread, last 7 days−0.039%−$4 · spread now −0.026%, 7d avg −0.001%
=Together, before fees−0.143%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.025% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.001%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 504.01 | 0.0032 | pay 0.0004% / 1h | 42m 39s | $1.2M | $510K | 20x |
| Short | Bybit MSFTUSDT | 503.88 | 0 | get 0.0000% / 8h | 7h 42m | $7.2M | $2.3M | 100x |
Lighter MSFT
Bybit MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$6.72
- Price spread: −0.026% → −0.001%
- −$2.51
- Slippage, 4 orders
- −$13.64
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$33.87
- Costs to cover
- 0.246%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Bybit: live order book, 5 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 | 0.60 bp | 2.0 bp −$2 | 8.1 bp −$81 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.69 bp | 11.3 bp −$11 | 19.1 bp −$191 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0071% | 1h | 503.79 | −0.043% | $415K | $67K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.83 | −0.036% | $682K | $494K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0003% | 8h | 503.97 | −0.008% | $191K | $205K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.33 | +0.064% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.95 | −0.011% | $338K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.11 | +0.019% | $15.9M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDTshort | 0.0000% | 8h | 503.88 | −0.026% | $7.2M | $2.3M | 100x | |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.20 | +0.038% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.89 | −0.024% | $3.2M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.99 | −0.004% | $3.9M | $2.9M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.21 | +0.040% | $1.3M | $401K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.19 | +0.035% | $19K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.74 | +0.145% | $6K | $3.6M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.64 | −0.073% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.91 | −0.020% | $59K | $224K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.31 | +0.060% | $2.2M | $829K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 504.00 | −0.002% | $11K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.02 | +0.002% | $1.2M | $4.6M | 10x | as long as short |
| Lighter MSFTlong | +0.0032% | 1h | 504.01 | long leg | $1.2M | $510K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 503.96 | −0.010% | $697K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.86 | −0.030% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.98 | −0.006% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.61 | −0.079% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.45 | −0.111% | $303K | $654K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.86 | −0.030% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.50 | −0.101% | $514K | $410K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.89 | −0.023% | $222 | — | 5x | as long as short |
| edgeX MSFTUSDC | +0.0079% | 4h | 504.22 | +0.041% | $103K | $244K | 10x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.77 | −0.048% | $1.6M | $100K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.66 | −0.069% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.99 | −0.004% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.92 | −0.017% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0112% | 1h | 503.84 | −0.034% | $33K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 505.94 | +0.383% | $116K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
QFEX MSFT-USD
Lighter RH MSFT
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
edgeX MSFTUSDC
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP