MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.10 per $10,000 · paid last 24h −0.011%

Price spread now: Lighter against ApeX Omni−0.102%78s7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$990.991% of the position

Long on ApeX Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.284%−$28 · spread now −0.102%, 7d avg −0.033%

Together, before fees−0.277%+ Points / potential airdropLighter: Season 3 · farm board−$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.069% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.033%). If the spread goes back, that is −$7 on $10k: about 3.0 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.007% in total) that is about 2 months. The two prices were read 78 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	ApeX Omni MSTRUSDT	166.85	0.0100	pay 0.0013% / 1h	2m 04s	$6K	$178K	50x
Short	Lighter MSTR	166.68	0.0176	get 0.0022% / 1h	2m 04s	$3.5M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee LighterbpOrdersPrice spread, now −0.102%Rate

Funding earned: $15.96
Price spread: −0.102% → −0.033%: −$6.92
Slippage, 4 orders: −$89.15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$90.11
Costs to cover: 0.991%
Break-even: 46.5 days

Slippage from ApeX Omni: live order book, 42 min ago; Lighter: live order book, 5 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 ApeX Omni live order book, 42 min ago	3.06 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.50 bp	3.1 bp −$3	7.1 bp −$71	41.0 bp −$4,095	doesn't fit

MSTR on 32 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
Gate MSTR_USDT	0.0000%	8h	166.82	−0.018%	$4.9M	$19.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.80	−0.030%	$31.3M	$113.6M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.70	−0.090%	$2.8M	$83K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.59	−0.154%	$544K	$1.8M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−2.541%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.83	−0.012%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.95	+0.060%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.62	−0.138%	$385K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.92	+0.042%	$927K	$3.5M	10x	as long as short
QFEX MSTR-USD	+0.0061%	1h	166.76	−0.054%	$1.3M	$6.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	166.67	−0.107%	$102K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.71	−0.084%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	166.85	long leg	$6K	$178K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.82	−0.018%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.81	−0.021%	$138	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	166.72	−0.078%	$1.4M	$644K	10x	as long as short
Lighter MSTRshort	+0.0176%	1h	166.68	−0.102%	$3.5M	$1.8M	10x
Nado MSTR-PERP	+0.0179%	1h	166.70	−0.088%	$128K	$143K	3x	as long as short
Paradex MSTR-USD-PERP	+0.0191%	8h	166.71	−0.082%	$67	—	5x	as long as short
Aster MSTRUSDT	+0.0194%	8h	166.79	−0.036%	$1.8M	$8.6M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0279%	8h	166.81	−0.024%	$21.5M	$92.9M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	167.24	+0.232%	$1.2M	$1.8M	—	as long as short
tradeXYZ xyz:MSTR	+0.0365%	1h	166.64	−0.126%	$55.1M	$36.2M	10x	as long as short
Binance MSTRUSDT	+0.0387%	8h	166.72	−0.079%	$87.1M	$590.5M	50x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	166.91	+0.036%	$272K	$387K	10x	as long as short
Phoenix MSTR	+0.0460%	1h	167.10	+0.148%	$57K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0507%	8h	166.93	+0.048%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0559%	8h	166.78	−0.042%	$17.2M	$40.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0590%	1h	166.75	−0.060%	$284K	$289K	10x	as long as short
edgeX MSTRUSDC	+0.0670%	4h	167.12	+0.163%	$49K	$5.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0727%	8h	167.11	+0.156%	$82K	$844K	10x	as long as short
SoDEX MSTR-USD	+0.1238%	1h	166.72	−0.078%	$44K	$3K	10x	as long as short