MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h −0.009%

Price spread now: Ondo Perps against Lighter−0.107%7-day average −0.077% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.107%, 7d avg −0.077%

Together, before fees+0.036%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.030% cheaper against Lighter than usual: you would sell low and buy high (spread −0.107% now, against its 7-day average of −0.077%). If the spread goes back, that is −$3 on $10k: about 5.5 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.003% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSFT	503.79	0.0032	pay 0.0004% / 1h	7m 25s	$1.1M	$514K	20x
Short	Ondo Perps MSFT-USD.P	503.25	0.0050	get 0.0006% / 1h	7m 25s	$512K	$459K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.107%Rate

Funding earned: $3.86
Price spread: −0.107% → −0.077%: −$3.04
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.18
Costs to cover: 0.050%
Break-even: 14.6 days

Slippage unknown: Lighter: live order book, 3 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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	0.79 bp	2.0 bp −$2	6.7 bp −$67	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff MSFT-PERP	−0.0112%	1h	503.30	−0.097%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0102%	1h	503.53	−0.051%	$414K	$65K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.14	−0.129%	$681K	$452K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.54	−0.049%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.64	−0.030%	$339K	$885K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.72	−0.014%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.53	−0.052%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.83	+0.008%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.49	−0.060%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.65	−0.028%	$4.4M	$2.6M	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	502.85	−0.187%	$1.3M	$490K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.55	−0.048%	$18K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.48	+0.137%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.52	−0.054%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.58	−0.042%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.84	+0.010%	$2.2M	$781K	10x	as long as short
BloFin MSFT-USDT	+0.0010%	8h	503.60	−0.038%	$189K	$205K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0011%	1h	503.27	−0.103%	$22.3M	$8.8M	20x	as long as short
Lighter MSFTlong	+0.0032%	1h	503.79	long leg	$1.1M	$514K	20x
Lighter RH MSFT	+0.0032%	1h	503.53	−0.052%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.64	−0.030%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.19	−0.119%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.58	−0.042%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.14	−0.129%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.27	−0.103%	$304K	$712K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.40	−0.077%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	503.25	−0.107%	$512K	$459K	15x
Paradex MSFT-USD-PERP	+0.0051%	8h	503.63	−0.031%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.14	−0.129%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.14	−0.129%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.51	−0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.59	−0.039%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0208%	4h	503.56	−0.045%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	−0.141%	$115K	$45K	30x	as long as short