MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0618%/8h= −67.6% APRnext payment −$0.77 per $10,000 · paid last 24h −0.073%

Price spread now: Lighter against Arcus−0.018%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.018%, 7d avg −0.052%

Together, before fees−0.031%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.034% dearer against Arcus than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.052%): +$3 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 3 days (−0.008% in total) that is about 15 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.008% in total (about -0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.77 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	169.47	0.0738	pay 0.0092% / 1h	48m 44s	$27K	$129K	10x
Short	Lighter MSTR	169.44	0.0120	get 0.0015% / 1h	48m 44s	$3.6M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$129.69
Price spread: −0.018% → −0.052%: $3.44
Slippage, 4 orders: −$24.45
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$155.2
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from Arcus: live order book, 29 min ago; Lighter: live order book, 4 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 Arcus live order book, 29 min ago	7.38 bp	13.1 bp −$13	42.4 bp −$424	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.18 bp	2.3 bp −$2	7.7 bp −$77	38.7 bp −$3,869	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
Aster MSTRUSDT	0.0000%	8h	169.34	−0.077%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.49	+0.012%	$22.1M	$106.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.45	−0.012%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.49	+0.014%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.53	+0.036%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.36	−0.065%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.41	−0.035%	$276K	$442K	10x	as long as short
Binance MSTRUSDT	+0.0019%	8h	169.43	−0.022%	$89.4M	$629.1M	50x	as long as short
BloFin MSTR-USDT	+0.0021%	8h	169.45	−0.012%	$1.1M	$1.8M	20x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.16	−0.181%	$583K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MSTR-PERP	+0.0040%	1h	169.33	−0.081%	$139K	$97K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.54	+0.041%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.41	−0.035%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.33	−0.083%	$398K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.35	−0.071%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.31	−0.094%	$782K	$5.2M	10x	as long as short
Bitget MSTRUSDT	+0.0053%	8h	169.51	+0.024%	$28.7M	$120.6M	25x	as long as short
Bybit MSTRUSDT	+0.0092%	8h	169.44	−0.018%	$15.2M	$40.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.50	+0.018%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.40	−0.040%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.35	−0.071%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.21	−0.153%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.36	−0.065%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.230%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.35	−0.068%	$141	—	10x	as long as short
Lighter MSTRshort	+0.0120%	1h	169.44	−0.018%	$3.6M	$2.4M	10x
Paradex MSTR-USD-PERP	+0.0123%	8h	169.37	−0.059%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0158%	1h	169.37	−0.059%	$57.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	+0.020%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0578%	1h	169.30	−0.100%	$288K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0686%	4h	169.52	+0.032%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USDlong	+0.0738%	1h	169.47	long leg	$27K	$129K	10x