Funding you earn now, next payment 05:00 UTC+0.0034%/8h= +3.8% APRnext payment +$0.04 per $10,000 · paid last 24h +0.010%
Price spread now: Lighter against tradeXYZ+0.052%7-day average +0.084% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$230.233% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 7 days+0.059%+$6 · spread now +0.052%, 7d avg +0.084%
=Together, before fees+0.100%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.032% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.052% now, against its 7-day average of +0.084%). If the spread goes back, that is −$3 on $10k: about 3.1 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 501.49 | −0.0002 | get 0.0000% / 1h | 38m 10s | $22.1M | $8.7M | 20x |
| Short | Lighter MSFT | 501.75 | 0.0032 | get 0.0004% / 1h | 38m 10s | $1.1M | $503K | 20x |
tradeXYZ xyz:MSFT
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against tradeXYZ. 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
- $7.19
- Price spread: +0.052% → +0.084%
- −$3.22
- Slippage, 4 orders
- −$5.31
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$19.34
- Costs to cover
- 0.233%
- Break-even
- 25.8 days
Slippage from tradeXYZ: live order book, 11 min ago; Lighter: live order book, 8 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 tradeXYZ live order book, 11 min ago | 0.40 bp | 10.0 bp −$10 | 12.4 bp −$124 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 8 min ago | 0.60 bp | 1.3 bp −$1 | 6.4 bp −$64 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0108% | 1h | 501.60 | +0.022% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.104% | $677K | $450K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0016% | 8h | 501.70 | +0.042% | $189K | $204K | 20x | as long as short |
| tradeXYZ xyz:MSFTlong | −0.0002% | 1h | 501.49 | long leg | $22.1M | $8.7M | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 501.66 | +0.033% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.70 | +0.042% | $337K | $881K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.93 | +0.088% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.58 | +0.018% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.80 | +0.062% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.54 | +0.010% | $3.1M | $1.7M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.67 | +0.036% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.36 | −0.026% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.39 | −0.020% | $18K | $298K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.63 | +0.227% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.59 | +0.020% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.75 | +0.052% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.99 | +0.100% | $2.2M | $772K | 10x | as long as short |
| Lighter MSFTshort | +0.0032% | 1h | 501.75 | +0.052% | $1.1M | $503K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 501.51 | +0.004% | $678K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.69 | +0.040% | $1.1M | $4.9M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 501.34 | −0.030% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.24 | −0.050% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.65 | +0.032% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.20 | −0.058% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.44 | −0.010% | $303K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.62 | +0.026% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.16 | −0.066% | $518K | $451K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.67 | +0.035% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.15 | −0.068% | $1.6M | $52K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.94 | −0.110% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.72 | +0.046% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.72 | +0.045% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.47 | −0.004% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0295% | 4h | 501.37 | −0.025% | $102K | $242K | 10x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Hotstuff MSFT-PERP
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC