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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0138%/8h= −15.2% APRnext payment −$0.17 per $10,000 · paid last 24h −0.002%
Price spread now: QFEX against Lighter0.000%7-day average +0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Long on LighterShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.105%−$11 on $10k
Price spread, last 7 days+0.060%+$6 · spread now 0.000%, 7d avg +0.023%
Together, before fees−0.046%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and QFEX is 0.023% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.023%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter MSTR163.800.0192pay 0.0024% / 1h52m 17s$3.5M$1.9M10x
ShortQFEX MSTR-USD163.800.0054get 0.0007% / 1h52m 17s$1.4M$7.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX 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

Funding earned
−$29.08
Price spread: 0.000% → +0.023%
−$2.28
Slippage, 4 orders
−$9.05
Fee Lighter: 0 bp × 2 orders
$0
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$50.41
Costs to cover
0.191%
Break-even
never at this rate
Slippage from Lighter: live order book, 5 min ago; QFEX: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 5 min ago1.22 bp2.8 bp −$33.5 bp −$3529.1 bp −$2,910doesn't fit
Sell QFEX live order book, 7 min ago1.53 bp6.5 bp −$78.7 bp −$87doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0985%8h164.02+0.134%$27.1M$116.9M25xas long as short
Aster MSTRUSDT0.0000%8h163.84+0.022%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.92+0.073%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.00+0.122%$2.8M$77K10xas long as short
edgeX MSTRUSDC+0.0003%4h163.64−0.098%$48K$5.4M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.65−0.092%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.382%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.77−0.018%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.50−0.183%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.76−0.024%$379K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.66−0.085%$817K$4.0M10xas long as short
QFEX MSTR-USDshort+0.0054%1h163.800.000%$1.4M$7.2M10x
SoDEX MSTR-USD+0.0058%1h163.800.000%$43K$3K10xas long as short
OKX MSTR-USDT-SWAP+0.0058%8h163.87+0.043%$20.7M$99.3M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.84+0.027%$266K$446K10xas long as short
Variational Omni MSTR+0.0094%8h163.78−0.011%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.80+0.002%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.69−0.067%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.61−0.116%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.77−0.018%$4K$8K10xas long as short
Paradex MSTR-USD-PERP+0.0100%8h163.79−0.008%$66—5xas long as short
Aevo MSTR-PERP+0.0104%1h163.81+0.005%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0153%8h163.82+0.012%$83K$824K10xas long as short
Binance MSTRUSDT+0.0166%8h163.90+0.061%$85.8M$619.6M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.140%$1.4M$1.1M10xas long as short
Lighter MSTRlong+0.0192%1h163.80long leg$3.5M$1.9M10x
BloFin MSTR-USDT+0.0282%8h163.70−0.061%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0324%1h163.64−0.095%$121K$148K3xas long as short
Bybit MSTRUSDT+0.0327%8h163.96+0.098%$16.7M$41.2M50xas long as short
tradeXYZ xyz:MSTR+0.0344%1h163.78−0.012%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.066%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1278%1h163.88+0.049%$279K$438K10xas long as short