MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h −0.005%

Price spread now: Ondo Perps against Lighter−0.231%7-day average −0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.015%−$1 · spread now −0.231%, 7d avg −0.015%

Together, before fees−0.007%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.216% cheaper against Lighter than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of −0.015%). If the spread goes back, that is −$22 on $10k: about 2 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.008% in total) that is about 6 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	164.53	0.0040	pay 0.0005% / 1h	3m 25s	$3.5M	$1.9M	10x
Short	Ondo Perps MSTR-USD.P	164.15	0.0050	get 0.0006% / 1h	3m 25s	$909K	$4.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.231%Rate

Funding earned: $2.18
Price spread: −0.231% → −0.015%: −$21.58
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$24.39
Costs to cover: 0.050%
Break-even: 85.2 days

Slippage unknown: Lighter: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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	0.61 bp	2.7 bp −$3	6.5 bp −$65	33.9 bp −$3,391	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSTR on 31 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	−0.1151%	8h	164.69	+0.097%	$27.6M	$115.0M	25x	as long as short
Gate MSTR_USDT	−0.0170%	8h	164.50	−0.018%	$4.6M	$19.2M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.52	−0.005%	$1.2M	$7.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.53	0.000%	$20.8M	$99.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.59	+0.036%	$269K	$447K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.50	−0.018%	$2.8M	$69K	10x	as long as short
Variational Omni MSTR	+0.0014%	8h	164.39	−0.087%	$1.2M	$2.1M	—	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.41	−0.070%	$594K	$2.0M	10x	as long as short
Lighter MSTRlong	+0.0040%	1h	164.53	long leg	$3.5M	$1.9M	10x
Arcus MSTR-USD	+0.0040%	1h	164.55	+0.012%	$26K	$113K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.47	−0.036%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.49	−0.024%	$384K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.45	−0.049%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	164.15	−0.231%	$909K	$4.4M	10x
QFEX MSTR-USD	+0.0064%	1h	164.56	+0.018%	$1.4M	$8.0M	10x	as long as short
Binance MSTRUSDT	+0.0086%	8h	164.52	−0.006%	$87.7M	$620.6M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.56	+0.016%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.45	−0.049%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.47	−0.036%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.57	+0.024%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.57	+0.024%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0161%	8h	164.56	+0.015%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.16	−0.225%	$1.4M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0190%	1h	164.47	−0.036%	$55.1M	$36.6M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0205%	8h	164.38	−0.089%	$79K	$760K	10x	as long as short
Nado MSTR-PERP	+0.0337%	1h	164.47	−0.035%	$122K	$149K	3x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.923%	$8K	$26K	30x	as long as short
Bybit MSTRUSDT	+0.0366%	8h	164.66	+0.079%	$17.1M	$40.9M	50x	as long as short
Phoenix MSTR	+0.0381%	1h	164.51	−0.015%	$55K	$219K	10x	as long as short
edgeX MSTRUSDC	+0.0652%	4h	164.61	+0.046%	$50K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0662%	1h	164.58	+0.030%	$280K	$438K	10x	as long as short