Spread before costs (cost unknown: a leg has no order-book sample)+0.016%
7d average—if it closes, per $10,000$2funding while held, a day−$0.54
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MSFT-USD | 493.70 | 0.0050 | pay 0.0006% / 1h | 35m 08s | $59K | $3K | 10x |
| Short | Lighter MSFT | 493.78 | 0.0032 | get 0.0004% / 1h | 35m 08s | $1.1M | $536K | 20x |
SoDEX MSFT-USD
Lighter 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
- $1.62
- Funding while held
- −$0.54
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$6.92
- Spread needed to break even
- 0.080%
Slippage unknown: SoDEX: no order-book sample; Lighter: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0018%
- Per $10,000 a day
- −$0.54
- 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 2 min ago | 1.01 bp | 2.8 bp −$3 | 6.3 bp −$63 | doesn't fit | doesn't fit |
SoDEX: 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 International493.02cheapestOndo Perps493.20+0.037%KuCoin493.22+0.041%Polymarket Perps493.37+0.071%ApeX Omni493.42+0.081%Phoenix493.45+0.087%Vest493.46+0.089%Nado493.47+0.090%tradeXYZ493.48+0.093%Hotstuff493.50+0.097%Gate493.60+0.118%Deribit493.65+0.128%Lighter RH493.70+0.138%
Coinbase International
Ondo Perps
KuCoin
Polymarket Perps
ApeX Omni
Phoenix
Vest
Nado
tradeXYZ
Hotstuff
Gate
Deribit
Lighter RHSoDEX493.70+0.138%
HTX493.70+0.138%Orderly493.74+0.146%Variational Omni493.75+0.149%
HTX
Orderly
Variational OmniLighter493.78+0.154%
Aevo493.79+0.157%Binance493.80+0.158%Arcus493.80+0.158%Paradex493.80+0.158%Bitget493.81+0.160%OKX493.83+0.164%Bybit493.84+0.166%Extended493.85+0.168%BloFin493.88+0.174%QFEX493.91+0.181%Phemex493.93+0.185%edgeX494.08+0.216%Aster494.25+0.249%Injective494.42+0.284%SunX494.54+0.308%
Aevo
Binance
Arcus
Paradex
Bitget
OKX
Bybit
Extended
BloFin
QFEX
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 | −0.138% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.101% | +0.0050% | 1h | $532K | $384K | 15x | as long as short |
| KuCoin MSFTUSDTM | −0.097% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.067% | +0.0050% | 1h | $288K | $479K | 10x | as long as short |
| ApeX Omni MSFTUSDT | −0.057% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Phoenix MSFT | −0.051% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.049% | +0.0046% | 1h | — | — | 25x | as long as short |
| Nado MSFT-PERP | −0.048% | −0.0008% | 1h | $458K | $5K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.045% | +0.0050% | 1h | $22.1M | $7.7M | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.041% | −0.0008% | 1h | $40K | — | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | −0.020% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.010% | 0.0000% | 1h | $27K | $110K | 10x | as long as short |
| Lighter RH MSFT | 0.000% | +0.0032% | 1h | $654K | $2.1M | 20x | as long as short |
| SoDEX MSFT-USDlong | 0.000% | +0.0050% | 1h | $59K | $3K | 10x | |
| HTX MSFT-USDT | 0.000% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.008% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Variational Omni MSFT | +0.011% | 0.0000% | 8h | $1.2M | $706K | — | as long as short |
| Lighter MSFTshort | +0.016% | +0.0032% | 1h | $1.1M | $536K | 20x | |
| Aevo MSFT-PERP | +0.019% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Binance MSFTUSDT | +0.020% | +0.0012% | 8h | $15.6M | $14.6M | 20x | as long as short |
| Arcus MSFT-USD | +0.020% | +0.0442% | 1h | $112K | $50K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.020% | +0.0051% | 8h | $217 | — | 5x | as long as short |
| Bitget MSFTUSDT | +0.022% | +0.0004% | 8h | $3.6M | $1.7M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | +0.026% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| Bybit MSFTUSDT | +0.028% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| Extended MSFT_24_5-USD | +0.030% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| BloFin MSFT-USDT | +0.036% | +0.0037% | 8h | $147K | $162K | 20x | as long as short |
| QFEX MSFT-USD | +0.043% | +0.0042% | 1h | $1.1M | $3.9M | 10x | as long as short |
| Phemex MSFTUSDT | +0.047% | 0.0000% | 8h | $2.1M | $544K | 10x | as long as short |
| edgeX MSFTUSDC | +0.078% | −0.0775% | 4h | $101K | $244K | 10x | as long as short |
| Aster MSFTUSDT | +0.110% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.146% | +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 |