Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0052%/8h= +5.6% APRpaid last 24h +0.073%

Price spread now: Paradex against Lighter−0.015%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	169.41	0.0032	pay 0.0004% / 1h	4m 56s	$3.6M	$2.6M	10x
Short	Paradex MSTR-USD-PERP	169.38	0.0084	get 0.0084% / 8h	2h 04m	$68	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.015%Rate

Funding earned: $10.82
Price spread: −0.015% → 0.000%: −$1.5
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $5.31
Costs to cover: 0.040%
Break-even: 3.6 days

Slippage unknown: Lighter: live order book, 3 min ago; Paradex: 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, 3 min ago	0.29 bp	2.4 bp −$2	11.8 bp −$118	42.1 bp −$4,206	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 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
Nado MSTR-PERP	−0.0069%	1h	169.36	−0.029%	$139K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0008%	8h	169.35	−0.035%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.39	−0.014%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.38	−0.018%	$88.6M	$630.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.36	−0.030%	$22.1M	$107.4M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.41	0.000%	$277K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.33	−0.047%	$4.8M	$19.7M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.39	−0.013%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.49	+0.046%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.38	−0.018%	$2.9M	$59K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTRlong	+0.0032%	1h	169.41	long leg	$3.6M	$2.6M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	169.31	−0.060%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.39	−0.012%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.58	+0.100%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.177%	$1.5M	$1.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.39	−0.012%	$406K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.41	0.000%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.30	−0.065%	$752K	$5.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0063%	1h	169.40	−0.006%	$56.8M	$38.4M	10x	as long as short
Bitget MSTRUSDT	+0.0067%	8h	169.40	−0.006%	$28.8M	$120.0M	25x	as long as short
Paradex MSTR-USD-PERPshort	+0.0084%	8h	169.38	−0.015%	$68	—	5x
Bybit MSTRUSDT	+0.0088%	8h	169.44	+0.018%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.31	−0.057%	$103K	$121K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.33	−0.047%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.35	−0.035%	$4K	$854K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.42	+0.006%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.41	+0.002%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.49	+0.048%	$57K	$396K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0222%	1h	169.47	+0.035%	$288K	$439K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.50	+0.053%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.61	+0.118%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0756%	4h	169.48	+0.041%	$48K	$5.4M	10x	as long as short