Spread before costs (cost unknown: a leg has no order-book sample)+0.132%
7d average+0.068%if it closes, per $10,000$13funding while held, a day−$0.96
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MSFT | 494.34 | 0.0032 | pay 0.0004% / 1h | 39m 52s | $693K | $2.1M | 20x |
| Short | Variational Omni MSFT | 494.99 | 0 | get 0.0000% / 8h | 1h 39m | $1.3M | $650K | — |
Lighter RH MSFT
Variational Omni MSFTPrice 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
- $13.22
- Funding while held
- −$0.96
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $12.26
- Spread needed to break even
- 0.000%
Slippage unknown: Lighter RH: live order book, 5 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0032%
- Per $10,000 a day
- −$0.96
- 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, 5 min ago | 1.72 bp | 2.4 bp −$2 | 7.1 bp −$71 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 1 min ago | 2.54 bp | doesn't fit | 16.4 bp −$164 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.KuCoin494.10cheapesttradeXYZ494.16+0.012%Polymarket Perps494.18+0.016%Phoenix494.26+0.032%Nado494.29+0.038%Hotstuff494.29+0.038%Vest494.33+0.047%
KuCoin
tradeXYZ
Polymarket Perps
Phoenix
Nado
Hotstuff
VestLighter RH494.34+0.049%
Deribit494.36+0.053%Ondo Perps494.38+0.057%Paradex494.42+0.064%SoDEX494.50+0.081%Bybit494.51+0.083%Extended494.51+0.084%Gate494.52+0.085%QFEX494.53+0.087%Lighter494.54+0.089%Orderly494.54+0.089%HTX494.57+0.095%Aevo494.57+0.096%Bitget494.60+0.101%Arcus494.67+0.115%OKX494.69+0.119%ApeX Omni494.69+0.119%Aster494.73+0.128%Binance494.75+0.131%BloFin494.94+0.170%
Deribit
Ondo Perps
Paradex
SoDEX
Bybit
Extended
Gate
QFEX
Lighter
Orderly
HTX
Aevo
Bitget
Arcus
OKX
ApeX Omni
Aster
Binance
BloFinVariational Omni494.99+0.181%
edgeX495.03+0.188%Phemex495.14+0.210%Injective495.17+0.217%Coinbase International495.20+0.223%SunX495.52+0.287%
Phemex
Injective
Coinbase International
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.049% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.036% | +0.0050% | 1h | $23.2M | $5.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.032% | +0.0050% | 1h | $292K | $408K | 10x | as long as short |
| Phoenix MSFT | −0.016% | +0.0016% | 1h | $10K | $15K | 20x | as long as short |
| Nado MSFT-PERP | −0.011% | −0.0017% | 1h | $459K | $3K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.010% | −0.1600% | 1h | $40K | — | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.002% | +0.0046% | 1h | — | — | 25x | as long as short |
| Lighter RH MSFTlong | 0.000% | +0.0032% | 1h | $693K | $2.1M | 20x | |
| Deribit MSFT_USDC-PERPETUAL | +0.004% | 0.0000% | 1h | $27K | $97K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.008% | +0.0050% | 1h | $539K | $369K | 15x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Paradex MSFT-USD-PERP | +0.015% | +0.0052% | 8h | $218 | — | 5x | as long as short |
| SoDEX MSFT-USD | +0.032% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Bybit MSFTUSDT | +0.034% | 0.0000% | 8h | $7.2M | $918K | 100x | as long as short |
| Extended MSFT_24_5-USD | +0.035% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| Gate MSFT_USDT | +0.036% | 0.0000% | 8h | $3.1M | $949K | 100x | as long as short |
| QFEX MSFT-USD | +0.038% | +0.0038% | 1h | $1.1M | $3.1M | 10x | as long as short |
| Lighter MSFT | +0.040% | +0.0032% | 1h | $1.1M | $521K | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.040% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| HTX MSFT-USDT | +0.047% | 0.0000% | 8h | $58K | $229K | 20x | as long as short |
| Aevo MSFT-PERP | +0.047% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Bitget MSFTUSDT | +0.053% | 0.0000% | 8h | $3.7M | $1.5M | 100x | as long as short |
| Arcus MSFT-USD | +0.067% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
| OKX MSFT-USDT-SWAP | +0.071% | 0.0000% | 8h | $3.0M | $876K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.071% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Aster MSFTUSDT | +0.080% | 0.0000% | 8h | $153K | $57K | 20x | as long as short |
| Binance MSFTUSDT | +0.082% | 0.0000% | 8h | $15.7M | $11.7M | 20x | as long as short |
| BloFin MSFT-USDT | +0.121% | +0.0026% | 8h | $191K | $121K | 20x | as long as short |
| Variational Omni MSFTshort | +0.132% | 0.0000% | 8h | $1.3M | $650K | — | |
| edgeX MSFTUSDC | +0.139% | +0.0018% | 4h | $101K | $245K | 10x | as long as short |
| Phemex MSFTUSDT | +0.162% | 0.0000% | 8h | $2.1M | $410K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.168% | +0.0220% | 1h | $113K | $140K | 30x | as long as short |
| Coinbase International MSFT-PERP-INTX | +0.174% | −0.0016% | 1h | $666K | $327K | 10x | as long as short |
| SunX MSFT-USDT | +0.239% | 0.0000% | 8h | $6K | $3.4M | 20x | as long as short |