Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h +0.002%

Price spread now: Bitget against Lighter+0.024%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days+0.026%+$3 · spread now +0.024%, 7d avg +0.080%

Together, before fees−0.039%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.057% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.080%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	169.51	0.0144	pay 0.0018% / 1h	53m 56s	$3.6M	$2.4M	10x
Short	Bitget MSTRUSDT	169.55	0.0046	get 0.0046% / 8h	53m 56s	$28.8M	$120.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$20.58
Price spread: +0.024% → +0.080%: −$5.68
Slippage, 4 orders: −$12.06
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$50.32
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; Bitget: live order book, 5 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, 9 min ago	1.48 bp	4.5 bp −$4	6.8 bp −$68	35.1 bp −$3,509	doesn't fit
Sell Bitget live order book, 5 min ago	0.30 bp	7.4 bp −$7	11.1 bp −$111	27.4 bp −$2,744	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	−0.0009%	8h	169.56	+0.029%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.23	−0.167%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.54	+0.018%	$89.5M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.54	+0.018%	$22.1M	$106.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.46	−0.029%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	−0.075%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.32	−0.113%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.55	+0.024%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.57	+0.035%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.30	−0.124%	$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	169.64	+0.077%	—	$2.1M	25x	as long as short
Bitget MSTRUSDTshort	+0.0046%	8h	169.55	+0.024%	$28.8M	$120.6M	25x
QFEX MSTR-USD	+0.0049%	1h	169.55	+0.024%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.46	−0.029%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.40	−0.065%	$781K	$5.2M	10x	as long as short
Nado MSTR-PERP	+0.0076%	1h	169.39	−0.072%	$140K	$97K	3x	as long as short
Bybit MSTRUSDT	+0.0083%	8h	169.54	+0.018%	$15.2M	$40.6M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.248%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.50	−0.006%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.32	−0.112%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.265%	$4K	$394K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	−0.012%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.254%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.50	−0.006%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0106%	8h	169.49	−0.010%	$68	—	5x	as long as short
Lighter MSTRlong	+0.0144%	1h	169.51	long leg	$3.6M	$2.4M	10x
tradeXYZ xyz:MSTR	+0.0165%	1h	169.47	−0.024%	$57.2M	$37.4M	10x	as long as short
SoDEX MSTR-USD	+0.0228%	1h	169.56	+0.029%	$45K	$3K	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.20	−0.183%	$57K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.56	+0.029%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0980%	4h	169.29	−0.130%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1049%	1h	169.59	+0.047%	$288K	$439K	10x	as long as short