Funding you earn now, next payment 04:00 UTC−0.0393%/8h= −43.0% APRpaid last 24h −0.005%
Price spread now: edgeX against Lighter RH+0.041%7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$230.235% of the position
Funding, last 7 days+0.024%+$2 on $10k
+Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.041%, 7d avg +0.054%
=Together, before fees+0.055%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.054%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 501.10 | 0.0032 | pay 0.0004% / 1h | 37m 00s | $674K | $2.0M | 20x |
| Short | edgeX MSFTUSDC | 501.31 | −0.0361 | pay 0.0180% / 4h | 37m 00s | $102K | $242K | 10x |
Lighter RH MSFT
edgeX MSFTUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against Lighter RH. 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
- −$82.45
- Price spread: +0.041% → +0.054%
- −$1.32
- Slippage, 4 orders
- −$14.48
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$107.25
- Costs to cover
- 0.235%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 1 min ago; edgeX: live order book, 20 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 RH live order book, 1 min ago | 1.40 bp | 1.4 bp −$1 | 4.6 bp −$46 | 40.9 bp −$4,087 | doesn't fit |
| Sell edgeX live order book, 20 min ago | 5.59 bp | 10.2 bp −$10 | 12.4 bp −$124 | 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 MSFTUSDCshort | −0.0361% | 4h | 501.31 | +0.041% | $102K | $242K | 10x | |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | −0.026% | $678K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0023% | 1h | 501.03 | −0.015% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0014% | 8h | 501.36 | +0.052% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.05 | −0.010% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.24 | +0.028% | $341K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.37 | +0.053% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.06 | −0.008% | $7.2M | $2.1M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.40 | +0.060% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.25 | +0.030% | $3.1M | $1.7M | 100x | as long as short |
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 | 501.32 | +0.044% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.35 | +0.050% | $1.3M | $613K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.38 | +0.056% | $19K | $302K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.204% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.06 | −0.008% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.17 | +0.014% | $58K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.39 | +0.058% | $2.2M | $779K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.86 | −0.048% | $32K | $8K | 20x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 501.10 | long leg | $674K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0036% | 1h | 501.24 | +0.028% | $1.1M | $5.5M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.09 | −0.002% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.09 | −0.002% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.07 | −0.006% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.86 | −0.048% | $22.1M | $8.7M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.92 | −0.036% | $318K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.028% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.97 | −0.026% | $527K | $456K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 501.25 | +0.030% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.90 | −0.040% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.77 | −0.066% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.29 | +0.038% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.23 | +0.026% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0120% | 1h | 501.37 | +0.054% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.66 | +0.112% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
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
Lighter MSFT
Injective MSFT/USDC PERP