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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0255%/8h= −27.9% APRpaid last 24h −0.040%
Price spread now: Lighter against Binance−0.061%7-day average −0.095% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$210.212% of the position
Long on BinanceShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days−0.002%$0 on $10k
Price spread, last 7 days−0.058%−$6 · spread now −0.061%, 7d avg −0.095%
Together, before fees−0.060%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.034% dearer against Binance than usual: you sell high and buy low (spread −0.061% now, against its 7-day average of −0.095%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.002% in total) that is about 4 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.002% in total (about -0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance MSTRUSDT163.630.0287pay 0.0287% / 8h7h 54m$84.2M$620.0M50x
ShortLighter MSTR163.530.0032get 0.0004% / 1h54m 40s$3.5M$1.7M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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

Funding earned
−$53.51
Price spread: −0.061% → −0.095%
$3.41
Slippage, 4 orders
−$11.17
Fee Binance: 5 bp × 2 orders
−$10
Fee Lighter: 0 bp × 2 orders
$0
Net
−$71.27
Costs to cover
0.212%
Break-even
never at this rate
Slippage from Binance: live order book, 4 min ago; Lighter: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 4 min ago0.31 bp7.1 bp −$711.4 bp −$11442.7 bp −$4,270doesn't fit
Sell Lighter live order book, 3 min ago1.22 bp4.1 bp −$46.2 bp −$6236.2 bp −$3,617doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0332%8h163.72+0.055%$29.9M$119.0M25xas long as short
Gate MSTR_USDT0.0000%8h163.71+0.049%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.52−0.067%$2.8M$85K10xas long as short
Lighter MSTRshort+0.0032%1h163.53−0.061%$3.5M$1.7M10x
Extended MSTR_24_5-USD+0.0032%1h163.42−0.126%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.490%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.41−0.134%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.34−0.177%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.14−0.299%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.37−0.159%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.46−0.104%$898K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.36−0.165%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0091%8h163.57−0.037%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.61−0.010%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.46−0.104%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.45−0.110%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.33−0.183%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.38−0.152%$136—10xas long as short
Nado MSTR-PERP+0.0110%1h163.20−0.260%$125K$165K3xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.617%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0128%8h163.09−0.331%$65—5xas long as short
Bybit MSTRUSDT+0.0179%8h163.61−0.012%$17.1M$41.4M50xas long as short
OKX MSTR-USDT-SWAP+0.0214%8h163.58−0.031%$20.9M$99.6M50xas long as short
Variational Omni MSTR+0.0215%8h163.64+0.005%$1.2M$2.0M—as long as short
Binance MSTRUSDTlong+0.0287%8h163.63long leg$84.2M$620.0M50x
tradeXYZ xyz:MSTR+0.0334%1h163.60−0.018%$54.1M$37.4M10xas long as short
Phoenix MSTR+0.0357%1h163.79+0.096%$56K$223K10xas long as short
RISEx MSTR/USDC+0.0400%1h163.36−0.165%$268K$417K10xas long as short
BloFin MSTR-USDT+0.0406%8h163.47−0.098%$1.0M$2.1M20xas long as short
GRVT MSTR_USDT_Perp+0.0485%8h163.68+0.031%$80K$858K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0608%1h163.37−0.159%$278K$435K10xas long as short
edgeX MSTRUSDC+0.0653%4h163.92+0.177%$47K$5.3M10xas long as short