Settings8H · net · $10k
Funding arb · Price arb /

MSTR

RWAall MSTR markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h −0.104%
Price spread now: Lighter against edgeX−0.384%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$290.287% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.137%+$14 on $10k
Price spread, last 7 days+0.363%+$36 · spread now −0.384%, 7d avg −0.055%
Together, before fees+0.500%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$50 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.329% cheaper against edgeX than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.055%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.137%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.2% 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
LongedgeX MSTRUSDC167.380.0265pay 0.0132% / 4h3h 07m$43K$5.4M10x
ShortLighter MSTR166.740.0032get 0.0004% / 1h7m 18s$3.5M$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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
−$48.92
Price spread: −0.384% → −0.055%
−$32.85
Slippage, 4 orders
−$19.71
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Lighter: 0 bp × 2 orders
$0
Net
−$110.48
Costs to cover
0.287%
Break-even
never at this rate
Slippage from edgeX: live order book, 2 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
LegHalf-spread$10k$100k$1M$5M
Buy edgeX live order book, 2 min ago5.69 bp10.6 bp −$1117.3 bp −$173doesn't fitdoesn't fit
Sell Lighter live order book, 5 min ago1.20 bp3.1 bp −$34.9 bp −$4933.4 bp −$3,335doesn'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
Gate MSTR_USDT−0.0174%8h166.80−0.348%$4.7M$19.2M50xas long as short
BloFin MSTR-USDT−0.0014%8h166.79−0.354%$1.1M$1.9M20xas long as short
Aster MSTRUSDT0.0000%8h166.83−0.328%$1.2M$6.1M50xas long as short
OKX MSTR-USDT-SWAP0.0000%8h166.75−0.378%$21.5M$99.5M50xas long as short
Bitget MSTRUSDT0.0000%8h166.83−0.330%$27.7M$113.7M25xas long as short
Variational Omni MSTR0.0000%8h167.37−0.009%$1.2M$2.0Mas long as short
GRVT MSTR_USDT_Perp0.0000%8h167.28−0.058%$84K$812K10xas long as short
Phemex MSTRUSDT0.0000%4h167.13−0.151%$2.8M$67K10xas long as short
Binance MSTRUSDT+0.0004%8h166.80−0.346%$87.6M$614.0M50xas long as short
Lighter MSTRshort+0.0032%1h166.74−0.384%$3.5M$2.0M10x
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Extended MSTR_24_5-USD+0.0032%1h166.66−0.428%$575K$1.9M10xas long as short
QFEX MSTR-USD+0.0035%1h166.79−0.354%$1.4M$8.6M10xas long as short
Arcus MSTR-USD+0.0040%1h167.31−0.043%$27K$115K10xas long as short
Nado MSTR-PERP+0.0045%1h166.68−0.422%$135K$128K3xas long as short
Vest MSTR-USD-PERP+0.0046%1h166.66−0.431%$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h166.69−0.413%$391K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h166.79−0.354%$44K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h166.72−0.396%$763K$4.8M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0088%1h167.01−0.222%$1.4M$1.1M10xas long as short
Pacifica MSTR+0.0100%1h166.83−0.332%$103K$84K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h166.81−0.342%$2.5M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h167.13−0.151%$4K$204K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h166.84−0.324%$3K$7K10xas long as short
Aevo MSTR-PERP+0.0104%1h166.81−0.343%$13810xas long as short
Paradex MSTR-USD-PERP+0.0107%8h166.75−0.379%$675xas long as short
Injective MSTR/USDC PERP+0.0235%1h169.34+1.170%$8K$26K30xas long as short
tradeXYZ xyz:MSTR+0.0238%1h166.74−0.384%$56.4M$35.8M10xas long as short
Bybit MSTRUSDT+0.0238%8h166.86−0.312%$15.9M$39.5M50xas long as short
Phoenix MSTR+0.0259%1h167.42+0.023%$56K$384K10xas long as short
edgeX MSTRUSDClong+0.0265%4h167.38long leg$43K$5.4M10x
RISEx MSTR/USDC+0.0349%1h166.83−0.332%$272K$433K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0650%1h166.84−0.324%$284K$438K10xas long as short