MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h −0.023%

Price spread now: Coinbase International against Lighter−0.120%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now −0.120%, 7d avg −0.100%

Together, before fees−0.053%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.100%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSFT	501.36	0.0104	pay 0.0013% / 1h	1m 26s	$1.1M	$486K	20x
Short	Coinbase International MSFT-PERP-INTX	500.76	−0.0008	pay 0.0001% / 1h	1m 26s	$684K	$449K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$23.52
Price spread: −0.120% → −0.100%: −$1.99
Slippage, 4 orders: −$8.61
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$44.12
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Coinbase International: live order book, 7 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, 4 min ago	0.80 bp	1.3 bp −$1	8.6 bp −$86	doesn't fit	doesn't fit
Sell Coinbase International live order book, 7 min ago	1.80 bp	8.2 bp −$8	10.8 bp −$108	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
Coinbase International MSFT-PERP-INTXshort	−0.0008%	1h	500.76	−0.120%	$684K	$449K	10x
Aster MSFTUSDT	0.0000%	8h	501.45	+0.017%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.20	−0.032%	$342K	$905K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.32	−0.008%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.19	−0.034%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.22	−0.028%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.22	−0.028%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.37	+0.002%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.37	+0.002%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.46	+0.020%	$19K	$293K	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	502.11	+0.150%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.04	−0.064%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.19	−0.034%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.55	+0.038%	$2.2M	$759K	10x	as long as short
Nado MSFT-PERP	+0.0007%	1h	501.13	−0.046%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	501.32	−0.008%	$188K	$205K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.17	−0.038%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.31	−0.010%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.26	−0.020%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.85	−0.102%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.92	−0.088%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	−0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.98	−0.076%	$514K	$504K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.15	−0.042%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.05	−0.062%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.21	−0.030%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.82	−0.108%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.24	−0.024%	$8K	—	10x	as long as short
Lighter MSFTlong	+0.0104%	1h	501.36	long leg	$1.1M	$486K	20x
Aevo MSFT-PERP	+0.0104%	1h	501.19	−0.035%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0163%	4h	501.29	−0.014%	$102K	$243K	10x	as long as short
Hotstuff MSFT-PERP	+0.0168%	1h	500.85	−0.102%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.16	−0.040%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.080%	$115K	$45K	30x	as long as short