Spread before costs (cost unknown: a leg has no order-book sample)−0.113%
7d average−0.027%if it closes, per $10,000$11funding while held, a day+$0.55
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 493.76 | 0.0032 | pay 0.0004% / 1h | 35m 45s | $654K | $2.1M | 20x |
| Short | Ondo Perps MSFT-USD.P | 493.20 | 0.0050 | get 0.0006% / 1h | 35m 45s | $532K | $384K | 15x |
Lighter RH MSFT
Ondo Perps MSFT-USD.PPrice 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
- −$11.34
- Funding while held
- $0.55
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$15.79
- Spread needed to break even
- 0.050%
Slippage unknown: Lighter RH: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0018%
- Per $10,000 a day
- +$0.55
- 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 RH live order book, 4 min ago | 0.91 bp | 1.3 bp −$1 | 4.3 bp −$43 | 45.8 bp −$4,580 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International493.02cheapest
Coinbase InternationalOndo Perps493.20+0.037%
KuCoin493.29+0.055%Nado493.33+0.064%Polymarket Perps493.35+0.067%Paradex493.42+0.081%Vest493.44+0.085%Hotstuff493.50+0.097%Arcus493.53+0.103%QFEX493.55+0.108%tradeXYZ493.58+0.114%Gate493.58+0.114%HTX493.64+0.126%Bybit493.69+0.136%Deribit493.69+0.136%Orderly493.72+0.142%Variational Omni493.75+0.149%
KuCoin
Nado
Polymarket Perps
Paradex
Vest
Hotstuff
Arcus
QFEX
tradeXYZ
Gate
HTX
Bybit
Deribit
Orderly
Variational OmniLighter RH493.76+0.150%
ApeX Omni493.76+0.150%SoDEX493.78+0.154%Aevo493.79+0.156%BloFin493.82+0.162%Lighter493.86+0.170%Bitget493.86+0.170%Extended493.87+0.173%Binance493.88+0.174%OKX493.89+0.176%Phoenix493.97+0.193%Phemex493.99+0.197%edgeX494.08+0.216%Aster494.33+0.266%Injective494.42+0.284%SunX494.60+0.320%
ApeX Omni
SoDEX
Aevo
BloFin
Lighter
Bitget
Extended
Binance
OKX
Phoenix
Phemex
Aster
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.150% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| Ondo Perps MSFT-USD.Pshort | −0.113% | +0.0050% | 1h | $532K | $384K | 15x | |
| KuCoin MSFTUSDTM | −0.095% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Nado MSFT-PERP | −0.086% | −0.0010% | 1h | $458K | $5K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.083% | +0.0050% | 1h | $288K | $479K | 10x | as long as short |
| Paradex MSFT-USD-PERP | −0.069% | +0.0051% | 8h | $217 | — | 5x | as long as short |
| Vest MSFT-USD-PERP | −0.065% | +0.0046% | 1h | — | — | 25x | as long as short |
| Hotstuff MSFT-PERP | −0.053% | −0.0008% | 1h | $40K | — | 20x | as long as short |
| Arcus MSFT-USD | −0.047% | +0.0442% | 1h | $112K | $50K | 10x | as long as short |
| QFEX MSFT-USD | −0.043% | +0.0042% | 1h | $1.1M | $3.9M | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSFT | −0.036% | +0.0050% | 1h | $22.1M | $7.7M | 20x | as long as short |
| Gate MSFT_USDT | −0.036% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| HTX MSFT-USDT | −0.024% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Bybit MSFTUSDT | −0.014% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.014% | 0.0000% | 1h | $27K | $110K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.008% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Variational Omni MSFT | −0.001% | 0.0000% | 8h | $1.2M | $706K | — | as long as short |
| Lighter RH MSFTlong | 0.000% | +0.0032% | 1h | $654K | $2.1M | 20x | |
| ApeX Omni MSFTUSDT | 0.000% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| SoDEX MSFT-USD | +0.004% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Aevo MSFT-PERP | +0.006% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| BloFin MSFT-USDT | +0.012% | 0.0000% | 8h | $195K | $162K | 20x | as long as short |
| Lighter MSFT | +0.020% | +0.0032% | 1h | $1.1M | $536K | 20x | as long as short |
| Bitget MSFTUSDT | +0.020% | +0.0003% | 8h | $3.6M | $1.6M | 100x | as long as short |
| Extended MSFT_24_5-USD | +0.022% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Binance MSFTUSDT | +0.024% | +0.0012% | 8h | $15.6M | $14.6M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.026% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| Phoenix MSFT | +0.043% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| Phemex MSFTUSDT | +0.047% | 0.0000% | 8h | $2.1M | $542K | 10x | as long as short |
| edgeX MSFTUSDC | +0.066% | −0.0775% | 4h | $101K | $244K | 10x | as long as short |
| Aster MSFTUSDT | +0.116% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.134% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| SunX MSFT-USDT | +0.170% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |