Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h −0.021%

Price spread now: Lighter against Aster+0.195%7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs+$2as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 7 days−0.315%−$32 · spread now +0.195%, 7d avg −0.059%

Together, before fees−0.233%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.253% dearer against Aster than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	169.25	0	get 0.0000% / 8h	53m 21s	$1.3M	$6.1M	50x
Short	Lighter MSTR	169.58	0.0152	get 0.0019% / 1h	53m 21s	$3.6M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.195%Rate

Funding earned: $31.92
Price spread: +0.195% → −0.059%: $25.32
Slippage, 4 orders: −$15.42
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $33.82
Costs to cover: 0.234%
Break-even: from the start

Slippage from Aster: live order book, 5 min ago; Lighter: live order book, 9 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 Aster live order book, 5 min ago	0.89 bp	10.0 bp −$10	101.0 bp −$1,010	doesn't fit	doesn't fit
Sell Lighter live order book, 9 min ago	1.48 bp	2.9 bp −$3	7.4 bp −$74	37.9 bp −$3,793	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
BloFin MSTR-USDT	−0.0021%	8h	169.65	+0.236%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	169.25	long leg	$1.3M	$6.1M	50x
Binance MSTRUSDT	0.0000%	8h	169.61	+0.210%	$89.5M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.64	+0.230%	$22.1M	$107.0M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.57	+0.189%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	+0.078%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.52	+0.159%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.58	+0.195%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.59	+0.203%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.39	+0.084%	$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
Vest MSTR-USD-PERP	+0.0046%	1h	169.67	+0.248%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0048%	8h	169.59	+0.201%	$28.8M	$120.6M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.58	+0.195%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.52	+0.159%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.40	+0.088%	$781K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0084%	8h	169.66	+0.242%	$15.2M	$40.6M	50x	as long as short
Nado MSTR-PERP	+0.0085%	1h	169.38	+0.078%	$140K	$97K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.095%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.49	+0.141%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.34	+0.053%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.113%	$4K	$394K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.53	+0.165%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.101%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.55	+0.176%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0110%	8h	169.53	+0.167%	$68	—	5x	as long as short
Lighter MSTRshort	+0.0152%	1h	169.58	+0.195%	$3.6M	$2.4M	10x
tradeXYZ xyz:MSTR	+0.0173%	1h	169.54	+0.171%	$57.2M	$37.4M	10x	as long as short
SoDEX MSTR-USD	+0.0177%	1h	169.61	+0.212%	$45K	$3K	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	+0.146%	$57K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.63	+0.224%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0789%	4h	169.52	+0.157%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1048%	1h	169.66	+0.242%	$289K	$439K	10x	as long as short