Funding you earn now, next payment 06:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.024%
Price spread now: SunX against Lighter+0.155%7-day average +0.178% · you sell dearer than you buy
Net, funding: paid 7d − costs−$229as in the Funding arb table
Net, price: spread back to 7d avg − costs−$220as in the Price arb table
costs, in and out, $10k−$2182.181% of the position
Funding, last 7 days−0.111%−$11 on $10k
+Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.155%, 7d avg +0.178%
=Together, before fees−0.057%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SunX is 0.023% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.178%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 504.16 | 0.0088 | pay 0.0011% / 1h | 26m 19s | $1.2M | $516K | 20x |
| Short | SunX MSFT-USDT | 504.94 | 0 | get 0.0000% / 8h | 2h 26m | $6K | $3.9M | 20x |
Lighter MSFT
SunX MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$18.48
- Price spread: +0.155% → +0.178%
- −$2.31
- Slippage, 4 orders
- −$210.12
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$238.91
- Costs to cover
- 2.181%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; SunX: live order book, 12 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, 5 min ago | 0.60 bp | 2.2 bp −$2 | 5.6 bp −$56 | doesn't fit | doesn't fit |
| Sell SunX live order book, 12 min ago | 29.22 bp | 104.6 bp −$105 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0595% | 4h | 504.01 | −0.029% | $103K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.76 | −0.079% | $687K | $483K | 10x | as long as short |
| Nado MSFT-PERP | −0.0033% | 1h | 503.96 | −0.039% | $415K | $68K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0017% | 8h | 504.20 | +0.008% | $189K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.91 | −0.049% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.93 | −0.046% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.07 | −0.018% | $15.8M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.78 | −0.075% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.23 | +0.014% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.81 | −0.069% | $3.1M | $1.8M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 504.02 | −0.028% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.95 | −0.042% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.79 | −0.074% | $19K | $317K | 10x | as long as short |
| SunX MSFT-USDTshort | 0.0000% | 8h | 504.94 | +0.155% | $6K | $3.9M | 20x | |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.81 | −0.069% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.04 | −0.024% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.35 | +0.038% | $2.2M | $800K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.67 | −0.097% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.81 | −0.069% | $688K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 503.91 | −0.050% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.72 | −0.087% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.22 | +0.012% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.68 | −0.095% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.74 | −0.083% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.91 | −0.050% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.80 | −0.071% | $518K | $471K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.96 | −0.039% | $222 | — | 5x | as long as short |
| Lighter MSFTlong | +0.0088% | 1h | 504.16 | long leg | $1.2M | $516K | 20x | |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.36 | −0.159% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.37 | −0.157% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.96 | −0.040% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.99 | −0.034% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0192% | 1h | 503.67 | −0.097% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | −0.024% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
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
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP