Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: SunX against Lighter RH+0.183%7-day average +0.222% · you sell dearer than you buy
Net, funding: paid 7d − costs−$226as in the Funding arb table
Net, price: spread back to 7d avg − costs−$223as in the Price arb table
costs, in and out, $10k−$2202.195% of the position
Funding, last 7 days−0.069%−$7 on $10k
+Price spread, last 4 days (all we have)+0.107%+$11 · spread now +0.183%, 7d avg +0.222%
=Together, before fees+0.038%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.039% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.222%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 503.05 | 0.0032 | pay 0.0004% / 1h | 14m 22s | $680K | $2.0M | 20x |
| Short | SunX MSFT-USDT | 503.97 | 0 | get 0.0000% / 8h | 3h 14m | $6K | $4.0M | 20x |
Lighter RH MSFT
SunX MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$6.72
- Price spread: +0.183% → +0.222%
- −$3.89
- Slippage, 4 orders
- −$211.52
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$230.13
- Costs to cover
- 2.195%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 3 min ago; SunX: 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 | 1.79 bp | 2.6 bp −$3 | 5.0 bp −$50 | 40.6 bp −$4,062 | doesn't fit |
| Sell SunX live order book, 4 min ago | 29.07 bp | 104.7 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 | −0.0667% | 4h | 503.09 | +0.007% | $102K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0108% | 1h | 503.12 | +0.014% | $415K | $64K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.0088% | 1h | 502.75 | −0.060% | $27K | $42K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0040% | 1h | 502.83 | −0.044% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 502.66 | −0.078% | $680K | $451K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0012% | 8h | 503.16 | +0.022% | $189K | $205K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0005% | 1h | 502.82 | −0.046% | $22.2M | $8.8M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.06 | +0.003% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.06 | +0.003% | $339K | $884K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.15 | +0.019% | $15.8M | $19.2M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
tradeXYZ xyz:MSFT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MSFTUSDT | 0.0000% | 8h | 502.92 | −0.026% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.36 | +0.062% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.99 | −0.012% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.13 | +0.016% | $4.4M | $2.6M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.14 | +0.017% | $1.3M | $606K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.20 | +0.030% | $19K | $301K | 10x | as long as short |
| SunX MSFT-USDTshort | 0.0000% | 8h | 503.97 | +0.183% | $6K | $4.0M | 20x | |
| HTX MSFT-USDT | 0.0000% | 8h | 503.04 | −0.002% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.29 | +0.048% | $2.2M | $786K | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.27 | +0.044% | $1.1M | $504K | 20x | as long as short |
| Lighter RH MSFTlong | +0.0032% | 1h | 503.05 | long leg | $680K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0035% | 1h | 503.02 | −0.006% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 502.86 | −0.038% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.20 | +0.030% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 502.88 | −0.034% | $11K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.80 | −0.050% | $304K | $705K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.06 | +0.002% | $60K | $3K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 503.13 | +0.017% | $221 | — | 5x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.80 | −0.050% | $512K | $462K | 15x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.85 | −0.040% | $1.6M | $55K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.84 | −0.042% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.03 | −0.004% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.04 | −0.002% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.08 | +0.006% | $115K | $45K | 30x | as long as short |
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Ondo Perps MSFT-USD.P
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP