Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h +0.018%

Price spread now: Gate against Lighter+0.092%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 7 days+0.039%+$4 · spread now +0.092%, 7d avg +0.082%

Together, before fees+0.238%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.082%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.199%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	162.68	0.0144	pay 0.0018% / 1h	19m 06s	$3.5M	$2.0M	10x
Short	Gate MSTR_USDT	162.83	0	get 0.0000% / 8h	2h 19m	$4.7M	$19.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.092%Rate

Funding earned: −$30.24
Price spread: +0.092% → +0.082%: $1.01
Slippage, 4 orders: −$20.54
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$64.77
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Gate: 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, 3 min ago	1.23 bp	2.3 bp −$2	2.8 bp −$28	32.2 bp −$3,216	doesn't fit
Sell Gate live order book, 5 min ago	0.93 bp	16.6 bp −$17	34.9 bp −$349	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	−0.1313%	8h	162.94	+0.160%	$27.1M	$118.1M	25x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	162.83	+0.092%	$4.7M	$19.7M	50x
Phemex MSTRUSDT	0.0000%	4h	162.80	+0.074%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0002%	8h	162.79	+0.065%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0022%	1h	162.26	−0.258%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.57	−0.065%	$500K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.094%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.36	−0.197%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.60	−0.049%	$375K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.63	−0.031%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.27	−0.252%	$866K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	162.60	−0.049%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.68	0.000%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.64	−0.026%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.60	−0.049%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	161.80	−0.541%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.72	+0.025%	$4K	$9K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0104%	8h	162.79	+0.068%	$20.6M	$100.4M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.72	+0.027%	$135	—	10x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	−0.279%	$1.2M	$2.1M	—	as long as short
Lighter MSTRlong	+0.0144%	1h	162.68	long leg	$3.5M	$2.0M	10x
Paradex MSTR-USD-PERP	+0.0149%	8h	162.59	−0.053%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.713%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0206%	8h	162.74	+0.037%	$83.4M	$628.0M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0214%	8h	161.97	−0.437%	$78K	$850K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0314%	1h	162.69	+0.006%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.68	0.000%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0356%	1h	162.50	−0.113%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0362%	1h	162.32	−0.218%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0381%	8h	162.78	+0.061%	$16.7M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0737%	4h	162.33	−0.214%	$45K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0857%	1h	162.72	+0.025%	$277K	$438K	10x	as long as short