MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRnext payment +$0.06 per $10,000 · paid last 24h −0.017%

Price spread now: Lighter against Coinbase International+0.222%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now +0.222%, 7d avg +0.073%

Together, before fees−0.063%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.148% dearer against Coinbase International than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.073%. Mind the row above: over the last 7 days funding on this pair cost −0.140%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	166.72	0.0120	pay 0.0015% / 1h	3m 46s	$1.4M	$644K	10x
Short	Lighter MSTR	167.09	0.0168	get 0.0021% / 1h	3m 46s	$3.6M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.222%Rate

Funding earned: $10.08
Price spread: +0.222% → +0.073%: $14.85
Slippage, 4 orders: −$16.93
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2
Costs to cover: 0.269%
Break-even: 8.4 days

Slippage from Coinbase International: live order book, 5 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 Coinbase International live order book, 5 min ago	5.70 bp	11.1 bp −$11	16.6 bp −$166	doesn't fit	doesn't fit
Sell Lighter live order book, 4 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	167.08	+0.216%	$4.9M	$19.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	167.03	+0.186%	$31.4M	$113.8M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.05	+0.198%	$2.8M	$83K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	167.00	+0.165%	$544K	$1.8M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−2.465%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.14	+0.252%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.29	+0.342%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.96	+0.144%	$386K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.92	+0.120%	$927K	$3.5M	10x	as long as short
QFEX MSTR-USD	+0.0061%	1h	167.02	+0.180%	$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	166.97	+0.150%	$102K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.93	+0.126%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.72	0.000%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.13	+0.246%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	167.14	+0.253%	$139	—	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0120%	1h	166.72	long leg	$1.4M	$644K	10x
Lighter MSTRshort	+0.0168%	1h	167.09	+0.222%	$3.6M	$1.8M	10x
Nado MSTR-PERP	+0.0182%	1h	166.92	+0.122%	$128K	$143K	3x	as long as short
Aster MSTRUSDT	+0.0192%	8h	167.04	+0.192%	$1.8M	$8.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0195%	8h	167.02	+0.179%	$67	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0278%	8h	167.04	+0.192%	$21.6M	$93.1M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	167.24	+0.310%	$1.2M	$1.8M	—	as long as short
edgeX MSTRUSDC	+0.0305%	4h	166.85	+0.080%	$49K	$5.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0373%	1h	166.88	+0.096%	$55.2M	$36.1M	10x	as long as short
Binance MSTRUSDT	+0.0385%	8h	167.06	+0.204%	$87.3M	$591.2M	50x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	167.10	+0.231%	$272K	$387K	10x	as long as short
Phoenix MSTR	+0.0460%	1h	167.10	+0.226%	$57K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0505%	8h	166.98	+0.156%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0589%	8h	167.07	+0.210%	$17.3M	$40.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0709%	8h	166.96	+0.143%	$82K	$844K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0768%	1h	167.16	+0.264%	$284K	$293K	10x	as long as short
SoDEX MSTR-USD	+0.1334%	1h	167.08	+0.216%	$44K	$3K	10x	as long as short