Funding you earn now, next payment 09:00 UTC+0.0220%/8h= +24.1% APRnext payment +$0.27 per $10,000 · paid last 24h +0.044%
Price spread now: tradeXYZ against Lighter−0.024%7-day average −0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$280.282% of the position
Funding, last 7 days+0.117%+$12 on $10k
+Price spread, last 7 days+0.063%+$6 · spread now −0.024%, 7d avg −0.002%
=Together, before fees+0.180%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board+$18 on $10k · with fees, hour by hour
Funding pays, the price is against you. tradeXYZ is 0.022% cheaper against Lighter than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of −0.002%). If the spread goes back, that is −$2 on $10k: about 8 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.117% in total) that is about 32 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.117% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 165.08 | 0.0176 | pay 0.0022% / 1h | 17m 37s | $3.5M | $1.8M | 10x |
| Short | tradeXYZ xyz:MSTR | 165.04 | 0.0396 | get 0.0049% / 1h | 17m 37s | $54.5M | $36.2M | 10x |
Lighter MSTR
tradeXYZ xyz:MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $46.18
- Price spread: −0.024% → −0.002%
- −$2.24
- Slippage, 4 orders
- −$10.23
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- $15.71
- Costs to cover
- 0.282%
- Break-even
- 4.6 days
Slippage from Lighter: live order book, 10 min ago; tradeXYZ: live order book, 12 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, 10 min ago | 0.62 bp | 3.2 bp −$3 | 6.4 bp −$64 | 36.9 bp −$3,686 | doesn't fit |
| Sell tradeXYZ live order book, 12 min ago | 0.62 bp | 10.5 bp −$11 | 13.2 bp −$132 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate MSTR_USDT | 0.0000% | 8h | 165.24 | +0.097% | $4.9M | $19.0M | 50x | as long as short |
| Bitget MSTRUSDT | 0.0000% | 8h | 165.20 | +0.073% | $31.0M | $114.5M | 25x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.77 | −0.188% | $2.8M | $83K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.90 | −0.110% | $535K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 162.61 | −1.496% | $7K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 165.23 | +0.091% | $26K | $109K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 165.00 | −0.048% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.62 | −0.279% | $381K | $2.6M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.32 | −0.460% | $912K | $3.6M | 10x | as long as short |
| QFEX MSTR-USD | +0.0061% | 1h | 165.18 | +0.061% | $1.4M | $6.9M | 10x | as long as short |
Gate MSTR_USDT
Bitget MSTRUSDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica MSTR | +0.0100% | 1h | 165.07 | −0.006% | $101K | $88K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.89 | −0.115% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.30 | −0.472% | $6K | $180K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.96 | −0.073% | $3K | $13K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.85 | −0.137% | $137 | — | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0120% | 1h | 162.26 | −1.708% | $1.4M | $1.1M | 10x | as long as short |
| Aster MSTRUSDT | +0.0160% | 8h | 164.95 | −0.079% | $1.8M | $8.6M | 50x | as long as short |
| Lighter MSTRlong | +0.0176% | 1h | 165.08 | long leg | $3.5M | $1.8M | 10x | |
| Nado MSTR-PERP | +0.0179% | 1h | 164.67 | −0.250% | $126K | $143K | 3x | as long as short |
| Paradex MSTR-USD-PERP | +0.0188% | 8h | 165.14 | +0.039% | $66 | — | 5x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0255% | 8h | 165.10 | +0.012% | $21.1M | $93.3M | 50x | as long as short |
| Variational Omni MSTR | +0.0264% | 8h | 164.61 | −0.284% | $1.2M | $2.0M | — | as long as short |
| Binance MSTRUSDT | +0.0352% | 8h | 165.14 | +0.035% | $85.7M | $598.6M | 50x | as long as short |
| tradeXYZ xyz:MSTRshort | +0.0396% | 1h | 165.04 | −0.024% | $54.5M | $36.2M | 10x | |
| RISEx MSTR/USDC | +0.0400% | 1h | 165.14 | +0.037% | $269K | $390K | 10x | as long as short |
| Phoenix MSTR | +0.0460% | 1h | 164.03 | −0.636% | $56K | $223K | 10x | as long as short |
| BloFin MSTR-USDT | +0.0471% | 8h | 164.63 | −0.273% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0606% | 8h | 165.15 | +0.042% | $17.5M | $39.7M | 50x | as long as short |
| SoDEX MSTR-USD | +0.0623% | 1h | 164.85 | −0.139% | $43K | $3K | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0651% | 8h | 164.64 | −0.264% | $81K | $859K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0661% | 1h | 164.83 | −0.151% | $280K | $338K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0901% | 4h | 164.72 | −0.220% | $47K | $5.4M | 10x | as long as short |
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Coinbase International MSTR-PERP-INTX
Aster MSTRUSDT
Nado MSTR-PERP
Paradex MSTR-USD-PERP
OKX MSTR-USDT-SWAP
Variational Omni MSTR
Binance MSTRUSDT
RISEx MSTR/USDC
Phoenix MSTR
BloFin MSTR-USDT
Bybit MSTRUSDT
SoDEX MSTR-USD
GRVT MSTR_USDT_Perp
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC