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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+0.0065%/8h= +7.1% APRpaid last 24h +0.022%
Price spread now: Bybit against Lighter0.000%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$250.252% of the position
Long on LighterShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 7 days+0.102%+$10 · spread now 0.000%, 7d avg +0.070%
Together, before fees+0.140%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.070% cheaper against Lighter than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.070%). If the spread goes back, that is −$7 on $10k: about 3.6 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.038% in total) that is about 13 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter MSTR163.930.0040pay 0.0005% / 1h57m 44s$3.5M$1.7M10x
ShortBybit MSTRUSDT163.930.0105get 0.0105% / 8h7h 57m$17.2M$41.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$13.58
Price spread: 0.000% → +0.070%
−$7.04
Slippage, 4 orders
−$14.25
Fee Lighter: 0 bp × 2 orders
$0
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$18.71
Costs to cover
0.252%
Break-even
16.6 days
Slippage from Lighter: live order book, 5 min ago; Bybit: live order book, 1 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 Lighter live order book, 5 min ago1.23 bp2.7 bp −$38.3 bp −$8332.9 bp −$3,291doesn't fit
Sell Bybit live order book, 1 min ago1.22 bp9.6 bp −$1021.9 bp −$219153.1 bp −$15.3Kdoesn'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−0.0356%8h164.06+0.079%$29.8M$118.9M25xas long as short
Gate MSTR_USDT0.0000%8h164.00+0.043%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.75−0.110%$2.8M$84K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.77−0.097%$592K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.300%$8K$25K30xas long as short
Lighter MSTRlong+0.0040%1h163.93long leg$3.5M$1.7M10x
Arcus MSTR-USD+0.0040%1h163.98+0.031%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.76−0.104%—$1.8M25xas long as short
Nado MSTR-PERP+0.0047%1h163.67−0.159%$125K$165K3xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.74−0.116%$379K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.96−0.592%$895K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.99+0.037%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0084%8h163.78−0.091%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.92−0.004%$101K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.77−0.098%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.16−0.470%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.83−0.061%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.80−0.077%$136—10xas long as short
Bybit MSTRUSDTshort+0.0105%8h163.930.000%$17.2M$41.6M50x
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.799%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0129%8h163.91−0.013%$66—5xas long as short
Variational Omni MSTR+0.0202%8h163.25−0.413%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0206%8h164.02+0.055%$20.9M$100.0M50xas long as short
tradeXYZ xyz:MSTR+0.0228%1h163.91−0.012%$54.2M$37.7M10xas long as short
GRVT MSTR_USDT_Perp+0.0267%8h163.37−0.339%$80K$858K10xas long as short
Binance MSTRUSDT+0.0278%8h163.91−0.015%$84.4M$620.1M50xas long as short
Phoenix MSTR+0.0357%1h163.34−0.358%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0393%8h163.68−0.153%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0400%1h163.80−0.078%$269K$418K10xas long as short
SoDEX MSTR-USD+0.0544%1h163.78−0.092%$43K$3K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0605%1h163.87−0.037%$279K$437K10xas long as short
edgeX MSTRUSDC+0.0963%4h163.30−0.382%$46K$5.4M10xas long as short