After costs, if the gap returns to its 7d average, $10k−$60
spread now+0.104%7d average+0.064%fees + slippage, in and out−$63spread needed0.635%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 492.37 | 0.0032 | pay 0.0004% / 1h | 31m 38s | $1.1M | $529K | 20x |
| Short | Phemex MSFTUSDT | 492.88 | 0 | get 0.0000% / 8h | 31m 38s | $2.1M | $487K | 10x |
Lighter MSFT
Phemex MSFTUSDTPrice 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
- $10.36
- Funding while held
- −$0.96
- Slippage, 4 orders
- −$51.5
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$54.1
- Spread needed to break even
- 0.635%
Slippage from Lighter: live order book, 11 min ago; Phemex: live order book, 3 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, 11 min ago | 0.10 bp | 1.4 bp −$1 | 8.4 bp −$84 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.20 bp | 30.7 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.KuCoin491.87cheapestPolymarket Perps492.01+0.028%tradeXYZ492.04+0.035%Vest492.11+0.049%Nado492.19+0.065%Lighter RH492.27+0.081%OKX492.28+0.083%Paradex492.29+0.085%Deribit492.34+0.096%Gate492.35+0.098%Bitget492.36+0.100%
KuCoin
Polymarket Perps
tradeXYZ
Vest
Nado
Lighter RH
OKX
Paradex
Deribit
Gate
BitgetLighter492.37+0.102%
Hotstuff492.37+0.102%Arcus492.38+0.104%Binance492.39+0.106%QFEX492.39+0.106%Orderly492.39+0.106%HTX492.39+0.106%SoDEX492.40+0.108%Bybit492.45+0.118%Aevo492.48+0.124%Extended492.51+0.130%ApeX Omni492.55+0.138%Ondo Perps492.57+0.142%BloFin492.75+0.179%Aster492.79+0.186%edgeX492.88+0.205%
Hotstuff
Arcus
Binance
QFEX
Orderly
HTX
SoDEX
Bybit
Aevo
Extended
ApeX Omni
Ondo Perps
BloFin
AsterPhemex492.88+0.205%
Coinbase International493.01+0.232%Phoenix493.04+0.238%Variational Omni493.06+0.242%SunX493.23+0.276%Injective493.40+0.311%
Coinbase International
Phoenix
Variational Omni
SunX
InjectiveMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.102% | +0.0100% | 8h | $1.4M | $7K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.073% | +0.0050% | 1h | $287K | $472K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.067% | +0.0050% | 1h | $23.1M | $6.2M | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.053% | +0.0046% | 1h | — | — | 25x | as long as short |
| Nado MSFT-PERP | −0.037% | −0.0002% | 1h | $457K | $4K | 20x | as long as short |
| Lighter RH MSFT | −0.020% | +0.0032% | 1h | $684K | $2.0M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | −0.018% | 0.0000% | 8h | $3.1M | $1.4M | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.017% | +0.0052% | 8h | $217 | — | 5x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.006% | 0.0000% | 1h | $27K | $105K | 10x | as long as short |
| Gate MSFT_USDT | −0.004% | 0.0000% | 8h | $3.0M | $1.0M | 100x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | −0.002% | 0.0000% | 8h | $3.7M | $1.6M | 100x | as long as short |
| Lighter MSFTlong | 0.000% | +0.0032% | 1h | $1.1M | $529K | 20x | |
| Hotstuff MSFT-PERP | 0.000% | +0.0008% | 1h | $40K | — | 20x | as long as short |
| Arcus MSFT-USD | +0.002% | +0.0325% | 1h | $112K | $48K | 10x | as long as short |
| Binance MSFTUSDT | +0.004% | +0.0002% | 8h | $15.6M | $13.2M | 20x | as long as short |
| QFEX MSFT-USD | +0.004% | +0.0052% | 1h | $1.1M | $3.4M | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.004% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| HTX MSFT-USDT | +0.004% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| SoDEX MSFT-USD | +0.006% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Bybit MSFTUSDT | +0.016% | 0.0000% | 8h | $7.4M | $1.1M | 100x | as long as short |
| Aevo MSFT-PERP | +0.022% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Extended MSFT_24_5-USD | +0.028% | 0.0000% | 1h | $327K | $380K | 17x | as long as short |
| ApeX Omni MSFTUSDT | +0.037% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Ondo Perps MSFT-USD.P | +0.041% | +0.0050% | 1h | $536K | $373K | 15x | as long as short |
| BloFin MSFT-USDT | +0.077% | +0.0013% | 8h | $197K | $144K | 20x | as long as short |
| Aster MSFTUSDT | +0.084% | 0.0000% | 8h | $151K | $80K | 20x | as long as short |
| edgeX MSFTUSDC | +0.103% | −0.0721% | 4h | $100K | $244K | 10x | as long as short |
| Phemex MSFTUSDTshort | +0.104% | 0.0000% | 8h | $2.1M | $487K | 10x | |
| Coinbase International MSFT-PERP-INTX | +0.130% | −0.0008% | 1h | $663K | $333K | 10x | as long as short |
| Phoenix MSFT | +0.136% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| Variational Omni MSFT | +0.140% | 0.0000% | 8h | $1.2M | $690K | — | as long as short |
| SunX MSFT-USDT | +0.175% | 0.0000% | 8h | $6K | $3.9M | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.209% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |