Funding you earn now, next payment 01:00 UTC+0.0046%/8h= +5.0% APRnext payment +$0.06 per $10,000 · paid last 24h +0.005%
Price spread now: Lighter against Ondo Perps+0.070%55s7-day average +0.076% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.008%−$1 on $10k
+Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.070%, 7d avg +0.076%
=Together, before fees−0.005%+ Points / potential airdropOndo Perps: Active · Lighter: Season 3 · farm board$0 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.076%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 501.49 | 0.0050 | pay 0.0006% / 1h | 24m 50s | $528K | $489K | 15x |
| Short | Lighter MSFT | 501.84 | 0.0096 | get 0.0012% / 1h | 24m 50s | $1.1M | $486K | 20x |
Ondo Perps MSFT-USD.P
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Ondo Perps. 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
- $9.58
- Price spread: +0.070% → +0.076%
- −$0.59
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $3.99
- Costs to cover
- 0.050%
- Break-even
- 4.1 days
Slippage unknown: Ondo Perps: no order-book sample; Lighter: live order book, 1 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 1 min ago | 1.10 bp | 2.6 bp −$3 | 6.6 bp −$66 | doesn't fit | doesn't fit |
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 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 | −0.0298% | 4h | 502.10 | +0.121% | $102K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 501.13 | −0.072% | $679K | $447K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.92 | +0.086% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.86 | +0.073% | $337K | $1.0M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.78 | +0.058% | $15.7M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.71 | +0.044% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.81 | +0.064% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.63 | +0.028% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.87 | +0.076% | $3.8M | $2.1M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.86 | +0.074% | $1.3M | $690K | — | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.02 | +0.106% | $18K | $289K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.72 | +0.245% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.82 | +0.066% | $58K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.00 | +0.102% | $2.2M | $757K | 10x | as long as short |
| Nado MSFT-PERP | +0.0004% | 1h | 501.66 | +0.034% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0008% | 8h | 501.96 | +0.094% | $187K | $205K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0009% | 1h | 501.73 | +0.048% | $27K | $41K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.57 | +0.016% | $619K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0044% | 1h | 501.94 | +0.090% | $1.1M | $5.8M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.90 | +0.082% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.40 | −0.018% | $22.3M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.63 | +0.028% | $303K | $672K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.84 | +0.070% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.Plong | +0.0050% | 1h | 501.49 | long leg | $528K | $489K | 15x | |
| Paradex MSFT-USD-PERP | +0.0051% | 8h | 501.87 | +0.075% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.70 | +0.042% | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 501.55 | +0.012% | $32K | $8K | 20x | as long as short |
| Lighter MSFTshort | +0.0096% | 1h | 501.84 | +0.070% | $1.1M | $486K | 20x | |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.80 | +0.062% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.56 | +0.014% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.85 | +0.072% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.82 | +0.066% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0212% | 1h | 501.83 | +0.068% | $97K | $109K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.00 | +0.102% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Arcus MSFT-USD
Injective MSFT/USDC PERP