After costs, if the gap returns to its 7d average, $10k−$37
spread now−0.044%7d average+0.014%fees + slippage, in and out−$31spread needed0.311%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 494.44 | 0.0032 | pay 0.0004% / 1h | 48m 40s | $1.1M | $535K | 20x |
| Short | Gate MSFT_USDT | 494.22 | 0 | get 0.0000% / 8h | 7h 48m | $3.1M | $1.2M | 100x |
Lighter MSFT
Gate MSFT_USDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$4.45
- Funding while held
- −$0.96
- Slippage, 4 orders
- −$16.1
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$36.51
- Spread needed to break even
- 0.311%
Slippage from Lighter: live order book, 4 min ago; Gate: live order book, 1 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0032%
- Per $10,000 a day
- −$0.96
- Average in range /8h
- —
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 | 0.71 bp | 1.6 bp −$2 | 5.3 bp −$53 | doesn't fit | doesn't fit |
| Sell Gate live order book, 1 min ago | 4.35 bp | 15.0 bp −$15 | 37.5 bp −$375 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International493.02cheapestKuCoin493.92+0.183%Ondo Perps493.99+0.197%Polymarket Perps494.15+0.229%tradeXYZ494.16+0.231%
Coinbase International
KuCoin
Ondo Perps
Polymarket Perps
tradeXYZGate494.22+0.243%
HTX494.30+0.260%Lighter RH494.34+0.268%Deribit494.34+0.268%Nado494.35+0.270%Vest494.35+0.270%Aster494.36+0.272%Hotstuff494.38+0.276%Injective494.42+0.284%
HTX
Lighter RH
Deribit
Nado
Vest
Aster
Hotstuff
InjectiveLighter494.44+0.288%
Paradex494.44+0.288%Bitget494.45+0.290%Extended494.47+0.295%Binance494.48+0.296%Bybit494.48+0.296%Aevo494.49+0.297%Orderly494.49+0.298%BloFin494.49+0.298%Arcus494.50+0.300%Phemex494.50+0.300%OKX494.53+0.306%ApeX Omni494.53+0.306%Phoenix494.54+0.308%QFEX494.56+0.312%SoDEX494.70+0.341%Variational Omni494.70+0.341%edgeX494.87+0.375%SunX495.39+0.481%
Paradex
Bitget
Extended
Binance
Bybit
Aevo
Orderly
BloFin
Arcus
Phemex
OKX
ApeX Omni
Phoenix
QFEX
SoDEX
Variational Omni
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.287% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.105% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.091% | +0.0050% | 1h | $534K | $383K | 15x | as long as short |
| Polymarket Perps MSFT-USD | −0.059% | +0.0050% | 1h | $288K | $478K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.057% | +0.0050% | 1h | $21.9M | $7.5M | 20x | as long as short |
| Gate MSFT_USDTshort | −0.044% | 0.0000% | 8h | $3.1M | $1.2M | 100x | |
| HTX MSFT-USDT | −0.028% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Lighter RH MSFT | −0.020% | +0.0032% | 1h | $676K | $2.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.020% | 0.0000% | 1h | $27K | $108K | 10x | as long as short |
| Nado MSFT-PERP | −0.018% | −0.0026% | 1h | $459K | $5K | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Vest MSFT-USD-PERP | −0.018% | +0.0046% | 1h | — | — | 25x | as long as short |
| Aster MSFTUSDT | −0.016% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.012% | +0.0064% | 1h | $40K | — | 20x | as long as short |
| Injective MSFT/USDC PERP | −0.004% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| Lighter MSFTlong | 0.000% | +0.0032% | 1h | $1.1M | $535K | 20x | |
| Paradex MSFT-USD-PERP | 0.000% | +0.0051% | 8h | $218 | — | 5x | as long as short |
| Bitget MSFTUSDT | +0.002% | +0.0002% | 8h | $3.8M | $1.6M | 100x | as long as short |
| Extended MSFT_24_5-USD | +0.007% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Binance MSFTUSDT | +0.008% | +0.0017% | 8h | $15.6M | $14.4M | 20x | as long as short |
| Bybit MSFTUSDT | +0.008% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| Aevo MSFT-PERP | +0.009% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.010% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| BloFin MSFT-USDT | +0.010% | −0.0011% | 8h | $195K | $159K | 20x | as long as short |
| Arcus MSFT-USD | +0.012% | +0.0442% | 1h | $112K | $50K | 10x | as long as short |
| Phemex MSFTUSDT | +0.012% | 0.0000% | 8h | $2.1M | $529K | 10x | as long as short |
| OKX MSFT-USDT-SWAP | +0.018% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.018% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Phoenix MSFT | +0.020% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.024% | +0.0042% | 1h | $1.1M | $3.8M | 10x | as long as short |
| SoDEX MSFT-USD | +0.053% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Variational Omni MSFT | +0.053% | 0.0000% | 8h | $1.2M | $705K | — | as long as short |
| edgeX MSFTUSDC | +0.087% | −0.0772% | 4h | $101K | $244K | 10x | as long as short |
| SunX MSFT-USDT | +0.192% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |