MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0211%/8h= +23.1% APRnext payment +$0.26 per $10,000 · paid last 24h +0.015%

Price spread now: Nado against Lighter−0.011%7-day average +0.029% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.132%−$13 on $10k

Price spread, last 4 days (all we have)+0.364%+$36 · spread now −0.011%, 7d avg +0.029%

Together, before fees+0.232%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.040% cheaper against Lighter than usual: you would sell low and buy high (spread −0.011% now, against its 7-day average of +0.029%). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$6 a day). Mind the row above: over the last 3 days funding on this pair cost −0.132%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	164.49	0.0032	pay 0.0004% / 1h	23m 33s	$3.5M	$1.9M	10x
Short	Nado MSTR-PERP	164.47	0.0243	get 0.0030% / 1h	23m 33s	$121K	$148K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.011%Rate

Funding earned: $44.31
Price spread: −0.011% → +0.029%: −$3.96
Slippage, 4 orders: −$56.45
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$23.1
Costs to cover: 0.634%
Break-even: 10.6 days

Slippage from Lighter: live order book, 4 min ago; Nado: live order book, 34 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, 4 min ago	0.91 bp	2.8 bp −$3	5.9 bp −$59	32.8 bp −$3,283	doesn't fit
Sell Nado live order book, 34 min ago	6.66 bp	31.3 bp −$31	96.0 bp −$960	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	−0.0934%	8h	164.67	+0.109%	$27.8M	$115.0M	25x	as long as short
Gate MSTR_USDT	−0.0008%	8h	164.56	+0.043%	$4.6M	$18.6M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.59	+0.059%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.59	+0.061%	$2.8M	$73K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0003%	8h	164.56	+0.043%	$20.6M	$99.6M	50x	as long as short
Lighter MSTRlong	+0.0032%	1h	164.49	long leg	$3.5M	$1.9M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	164.39	−0.061%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.949%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.56	+0.043%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.61	+0.073%	$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	164.43	−0.036%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.48	−0.006%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.52	+0.018%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.33	−0.097%	$858K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.50	+0.006%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0074%	8h	164.54	+0.033%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.52	+0.016%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.50	+0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.40	−0.055%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.45	−0.024%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.44	−0.031%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0135%	8h	164.56	+0.043%	$88.0M	$617.0M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.54	+0.030%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0154%	8h	164.72	+0.142%	$77K	$772K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.225%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.50	+0.003%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0237%	1h	164.52	+0.018%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERPshort	+0.0243%	1h	164.47	−0.011%	$121K	$148K	3x
BloFin MSTR-USDT	+0.0252%	8h	164.57	+0.049%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0363%	8h	164.61	+0.073%	$17.0M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0437%	4h	164.54	+0.031%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0846%	1h	164.48	−0.006%	$280K	$438K	10x	as long as short