data as of
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Price arb /

MSFT

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After costs, if the gap returns to its 7d average, $10k−$185
spread now−0.102%7d average−0.013%fees + slippage, in and out−$177spread needed1.765%
Long on Lighter RHShort on KuCoin
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH MSFT498.320.0032pay 0.0004% / 1h9m 52s$670K$2.1M20x
ShortKuCoin MSFTUSDTM497.810.0100get 0.0100% / 8h6h 09m$1.5M$10K20x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$10.23
Funding while held
$2.04
Slippage, 4 orders
−$164.51
Fee Lighter RH: 0 bp × 2 orders
$0
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$184.7
Spread needed to break even
1.765%
Slippage from Lighter RH: live order book, 4 min ago; KuCoin: live order book, 2 min ago.

Cost of waiting

funding view
Funding /8h
+0.0068%
Per $10,000 a day
+$2.04
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter RH live order book, 4 min ago1.71 bp1.9 bp −$25.4 bp −$5442.0 bp −$4,204doesn't fit
Sell KuCoin live order book, 2 min ago8.94 bp77.8 bp −$78doesn't fitdoesn't fitdoesn't fit

MSFT price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International497.09cheapestedgeX497.79+0.140%
KuCoin497.81+0.145%
Hotstuff497.88+0.159%Polymarket Perps497.94+0.171%Ondo Perps497.97+0.177%Nado498.00+0.182%tradeXYZ498.01+0.185%Gate498.03+0.189%Aster498.12+0.206%HTX498.16+0.215%Paradex498.22+0.227%QFEX498.23+0.229%Vest498.23+0.229%BloFin498.23+0.229%Arcus498.26+0.235%SoDEX498.27+0.237%Bybit498.28+0.239%Variational Omni498.30+0.243%Bitget498.30+0.243%ApeX Omni498.30+0.243%Orderly498.31+0.245%Deribit498.31+0.245%
Lighter RH498.32+0.247%
Phoenix498.35+0.253%Aevo498.37+0.257%Extended498.39+0.262%Binance498.43+0.269%OKX498.47+0.278%Lighter498.51+0.286%Injective498.82+0.348%Phemex498.86+0.356%SunX499.17+0.418%

MSFT on 33 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International MSFT-PERP-INTX−0.247%−0.0056%1h$675K$353K10xas long as short
edgeX MSFTUSDC−0.107%−0.0834%4h$101K$245K10xas long as short
KuCoin MSFTUSDTMshort−0.102%+0.0100%8h$1.5M$10K20x
Hotstuff MSFT-PERP−0.088%+0.0048%1h$40K—20xas long as short
Polymarket Perps MSFT-USD−0.076%+0.0050%1h$302K$444K10xas long as short
Ondo Perps MSFT-USD.P−0.070%+0.0050%1h$510K$451K15xas long as short
Nado MSFT-PERP−0.065%0.0000%1h$460K$6K20xas long as short
tradeXYZ xyz:MSFT−0.062%+0.0050%1h$21.8M$8.6M20xas long as short
Gate MSFT_USDT−0.058%0.0000%8h$3.1M$1.3M100xas long as short
Aster MSFTUSDT−0.041%0.0000%8h$156K$80K20xas long as short
Show all 33 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
HTX MSFT-USDT−0.032%0.0000%8h$58K$230K20xas long as short
Paradex MSFT-USD-PERP−0.021%+0.0050%8h$219—5xas long as short
QFEX MSFT-USD−0.018%+0.0028%1h$1.2M$4.5M10xas long as short
Vest MSFT-USD-PERP−0.018%+0.0046%1h——25xas long as short
BloFin MSFT-USDT−0.018%+0.0017%8h$193K$180K20xas long as short
Arcus MSFT-USD−0.012%+0.0577%1h$111K$75K10xas long as short
SoDEX MSFT-USD−0.010%+0.0050%1h$60K$3K10xas long as short
Bybit MSFTUSDT−0.008%0.0000%8h$7.3M$1.5M100xas long as short
Variational Omni MSFT−0.005%0.0000%8h$1.3M$719K—as long as short
Bitget MSFTUSDT−0.004%0.0000%8h$3.7M$1.7M100xas long as short
ApeX Omni MSFTUSDT−0.004%+0.0100%1h$159K$7K50xas long as short
Orderly PERP_MSFT_USDC_mythos−0.002%+0.0100%8h$8K—10xas long as short
Deribit MSFT_USDC-PERPETUAL−0.002%0.0000%1h$27K$113K10xas long as short
Lighter RH MSFTlong0.000%+0.0032%1h$670K$2.1M20x
Phoenix MSFT+0.006%+0.0048%1h$10K$15K20xas long as short
Aevo MSFT-PERP+0.009%+0.0104%1h$55—10xas long as short
Extended MSFT_24_5-USD+0.015%0.0000%1h$372K$410K17xas long as short
Binance MSFTUSDT+0.022%0.0000%8h$15.7M$16.4M20xas long as short
OKX MSFT-USDT-SWAP+0.030%0.0000%8h$3.0M$2.1M20xas long as short
Lighter MSFT+0.038%+0.0040%1h$1.1M$543K20xas long as short
Injective MSFT/USDC PERP+0.100%+0.0220%1h$114K$125K30xas long as short
Phemex MSFTUSDT+0.108%0.0000%8h$2.1M$626K10xas long as short
SunX MSFT-USDT+0.171%0.0000%8h$6K$4.4M20xas long as short