MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0602%/8h= +65.9% APRnext payment +$0.75 per $10,000 · paid last 24h +0.073%

Price spread now: Arcus against Lighter+0.071%7-day average +0.052% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

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

Long on Lighter Short on Arcus

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)−0.030%−$3 · spread now +0.071%, 7d avg +0.052%

Together, before fees−0.022%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

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 +$0.75 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	Lighter MSTR	169.42	0.0136	pay 0.0017% / 1h	50m 18s	$3.6M	$2.4M	10x
Short	Arcus MSTR-USD	169.54	0.0738	get 0.0092% / 1h	50m 18s	$27K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now +0.071%Rate

Funding earned: $126.33
Price spread: +0.071% → +0.052%: $1.87
Slippage, 4 orders: −$24.45
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $99.25
Costs to cover: 0.290%
Break-even: 1.5 days

Slippage from Lighter: live order book, 2 min ago; Arcus: live order book, 28 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 Lighter live order book, 2 min ago	1.18 bp	2.6 bp −$3	6.2 bp −$62	34.0 bp −$3,401	doesn't fit
Sell Arcus live order book, 28 min ago	7.38 bp	11.0 bp −$11	35.3 bp −$353	doesn't fit	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	169.48	+0.035%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.45	+0.018%	$22.1M	$106.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.42	0.000%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.49	+0.044%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.52	+0.059%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.48	+0.035%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.45	+0.018%	$276K	$442K	10x	as long as short
Binance MSTRUSDT	+0.0015%	8h	169.43	+0.006%	$89.4M	$629.2M	50x	as long as short
BloFin MSTR-USDT	+0.0022%	8h	169.54	+0.071%	$1.1M	$1.8M	20x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.35	−0.041%	$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	169.63	+0.124%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.45	+0.018%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.40	−0.012%	$393K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.38	−0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.31	−0.065%	$782K	$5.2M	10x	as long as short
Bitget MSTRUSDT	+0.0053%	8h	169.43	+0.006%	$28.7M	$120.5M	25x	as long as short
Nado MSTR-PERP	+0.0062%	1h	169.35	−0.040%	$140K	$97K	3x	as long as short
Bybit MSTRUSDT	+0.0089%	8h	169.51	+0.053%	$15.2M	$40.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.50	+0.047%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.33	−0.053%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.36	−0.035%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.26	−0.094%	$4K	$364K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.40	−0.012%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.201%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.43	+0.005%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0123%	8h	169.48	+0.033%	$68	—	5x	as long as short
Lighter MSTRlong	+0.0136%	1h	169.42	long leg	$3.6M	$2.4M	10x
tradeXYZ xyz:MSTR	+0.0157%	1h	169.37	−0.030%	$57.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	+0.045%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0459%	1h	169.48	+0.035%	$288K	$439K	10x	as long as short
Arcus MSTR-USDshort	+0.0738%	1h	169.54	+0.071%	$27K	$129K	10x
edgeX MSTRUSDC	+0.0789%	4h	169.52	+0.057%	$47K	$5.5M	10x	as long as short