MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0136%/8h= +14.9% APRnext payment +$0.17 per $10,000 · paid last 24h +0.003%

Price spread now: Coinbase International against Lighter+0.079%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.079%, 7d avg −0.037%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.116% dearer against Lighter than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	164.64	0.0032	pay 0.0004% / 1h	43m 39s	$3.5M	$1.9M	10x
Short	Coinbase International MSTR-PERP-INTX	164.77	0.0168	get 0.0021% / 1h	43m 39s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.079%Rate

Funding earned: $28.56
Price spread: +0.079% → −0.037%: $11.64
Slippage, 4 orders: −$19.46
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $10.73
Costs to cover: 0.295%
Break-even: 4.4 days

Slippage from Lighter: live order book, 9 min ago; Coinbase International: 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	1.21 bp	4.3 bp −$4	7.5 bp −$75	35.2 bp −$3,521	doesn't fit
Sell Coinbase International live order book, 5 min ago	5.77 bp	10.8 bp −$11	16.5 bp −$165	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
Bitget MSTRUSDT	−0.0840%	8h	164.85	+0.128%	$27.7M	$115.0M	25x	as long as short
Gate MSTR_USDT	−0.0044%	8h	164.77	+0.079%	$4.6M	$18.4M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.68	+0.022%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.76	+0.073%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0010%	8h	164.76	+0.073%	$20.6M	$99.8M	50x	as long as short
Lighter MSTRlong	+0.0032%	1h	164.64	long leg	$3.5M	$1.9M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	164.58	−0.033%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.855%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.70	+0.036%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.79	+0.091%	$26K	$109K	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	164.65	+0.006%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.70	+0.036%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.69	+0.030%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.52	−0.073%	$866K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.68	+0.024%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0063%	8h	164.69	+0.033%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.72	+0.049%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.62	−0.012%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.45	−0.115%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.73	+0.055%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.72	+0.048%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0125%	8h	164.75	+0.067%	$88.1M	$617.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0143%	8h	164.70	+0.034%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0159%	8h	164.81	+0.102%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	164.77	+0.079%	$1.4M	$1.1M	10x
Phoenix MSTR	+0.0213%	1h	164.56	−0.050%	$56K	$226K	10x	as long as short
BloFin MSTR-USDT	+0.0244%	8h	164.67	+0.018%	$1.0M	$2.0M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0251%	1h	164.69	+0.030%	$55.0M	$36.9M	10x	as long as short
Nado MSTR-PERP	+0.0281%	1h	164.54	−0.059%	$122K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0370%	8h	164.82	+0.109%	$17.1M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0537%	4h	164.68	+0.021%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0722%	1h	164.71	+0.043%	$280K	$438K	10x	as long as short