Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%
Price spread now: QFEX against Lighter RH+0.036%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$180.176% of the position
Funding, last 4 days (all we have)−0.016%−$2 on $10k
+Price spread, last 7 days−0.036%−$4 · spread now +0.036%, 7d avg +0.029%
=Together, before fees−0.052%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 504.07 | 0.0032 | pay 0.0004% / 1h | 25m 10s | $688K | $2.0M | 20x |
| Short | QFEX MSFT-USD | 504.25 | 0.0036 | get 0.0004% / 1h | 25m 10s | $1.2M | $4.8M | 10x |
Lighter RH MSFT
QFEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- $0.82
- Price spread: +0.036% → +0.029%
- $0.65
- Slippage, 4 orders
- −$7.59
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$16.11
- Costs to cover
- 0.176%
- Break-even
- 144.0 days
Slippage from Lighter RH: live order book, 3 min ago; QFEX: live order book, 4 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, 3 min ago | 1.98 bp | 3.1 bp −$3 | 5.4 bp −$54 | 40.0 bp −$3,999 | doesn't fit |
| Sell QFEX live order book, 4 min ago | 1.19 bp | 6.2 bp −$6 | 6.5 bp −$65 | 15.0 bp −$1,501 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.98 | −0.018% | $687K | $485K | 10x | as long as short |
| Nado MSFT-PERP | −0.0034% | 1h | 504.11 | +0.008% | $415K | $68K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0009% | 8h | 504.26 | +0.038% | $189K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.06 | −0.002% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.16 | +0.018% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.30 | +0.046% | $15.8M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.00 | −0.014% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.30 | +0.046% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.97 | −0.020% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.26 | +0.038% | $3.8M | $3.0M | 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_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.15 | +0.015% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.79 | −0.056% | $19K | $317K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.12 | +0.208% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 504.04 | −0.006% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.22 | +0.030% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.48 | +0.081% | $2.2M | $801K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.79 | −0.056% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 504.07 | long leg | $688K | $2.0M | 20x | |
| QFEX MSFT-USDshort | +0.0036% | 1h | 504.25 | +0.036% | $1.2M | $4.8M | 10x | |
| Arcus MSFT-USD | +0.0040% | 1h | 503.79 | −0.056% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.30 | +0.046% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.88 | −0.038% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.88 | −0.038% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.17 | +0.020% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.80 | −0.054% | $518K | $471K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 504.19 | +0.024% | $222 | — | 5x | as long as short |
| Lighter MSFT | +0.0088% | 1h | 504.30 | +0.046% | $1.2M | $516K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.52 | −0.109% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.91 | −0.032% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.08 | +0.002% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.12 | +0.009% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0192% | 1h | 503.67 | −0.079% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | −0.006% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0832% | 4h | 504.10 | +0.006% | $103K | $242K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
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
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC