MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h −0.004%

Price spread now: Polymarket Perps against Lighter−0.055%7-day average −0.011% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$200.195% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days−0.022%−$2 · spread now −0.055%, 7d avg −0.011%

Together, before fees+0.034%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.043% cheaper against Lighter than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of −0.011%). If the spread goes back, that is −$4 on $10k: about 8.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	164.63	0.0032	pay 0.0004% / 1h	53m 14s	$3.5M	$1.9M	10x
Short	Polymarket Perps MSTR-USD	164.54	0.0050	get 0.0006% / 1h	53m 14s	$380K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.055%Rate

Funding earned: $3.78
Price spread: −0.055% → −0.011%: −$4.34
Slippage, 4 orders: −$11.52
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$20.08
Costs to cover: 0.195%
Break-even: 44.2 days

Slippage from Lighter: live order book, 4 min ago; Polymarket Perps: live order book, 6 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	1.22 bp	2.9 bp −$3	6.2 bp −$62	39.8 bp −$3,985	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	1.21 bp	5.5 bp −$6	7.1 bp −$71	10.0 bp −$1,001	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	−0.0891%	8h	164.75	+0.073%	$27.9M	$115.3M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.58	−0.033%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.71	+0.049%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.68	+0.030%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0025%	8h	164.68	+0.030%	$20.7M	$99.7M	50x	as long as short
Lighter MSTRlong	+0.0032%	1h	164.63	long leg	$3.5M	$1.9M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	164.50	−0.079%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.861%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.69	+0.036%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.48	−0.091%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USDshort	+0.0050%	1h	164.54	−0.055%	$380K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	164.60	−0.018%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.47	−0.097%	$862K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.53	−0.061%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0099%	8h	164.66	+0.016%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.50	−0.076%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.57	−0.036%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.58	−0.030%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.62	−0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.65	+0.009%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0138%	8h	164.51	−0.072%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0157%	8h	164.65	+0.014%	$86.9M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.310%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0175%	8h	164.73	+0.061%	$82K	$792K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0195%	1h	164.58	−0.030%	$54.8M	$37.0M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.59	−0.021%	$267K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0241%	1h	164.44	−0.118%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.71	+0.049%	$1.0M	$2.0M	20x	as long as short
Phoenix MSTR	+0.0340%	1h	164.59	−0.026%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0344%	8h	164.73	+0.061%	$16.9M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0783%	1h	164.69	+0.036%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0928%	4h	164.60	−0.018%	$49K	$5.3M	10x	as long as short