MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0213%/8h= −23.3% APRnext payment −$0.27 per $10,000 · paid last 24h −0.015%

Price spread now: Lighter against Nado+0.052%7-day average −0.029% · 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−$55as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on Nado Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.132%+$13 on $10k

Price spread, last 4 days (all we have)−0.405%−$40 · spread now +0.052%, 7d avg −0.029%

Together, before fees−0.273%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.081% dearer against Nado than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.029%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 30 hours. Mind the row above: over the last 3 days funding on this pair paid +0.132%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSTR-PERP	164.42	0.0245	pay 0.0031% / 1h	24m 11s	$121K	$148K	3x
Short	Lighter MSTR	164.51	0.0032	get 0.0004% / 1h	24m 11s	$3.5M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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 NadobpFee LighterbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$44.64
Price spread: +0.052% → −0.029%: $8.05
Slippage, 4 orders: −$56.45
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$100.04
Costs to cover: 0.634%
Break-even: never at this rate

Slippage from Nado: live order book, 33 min ago; Lighter: live order book, 3 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 Nado live order book, 33 min ago	6.66 bp	25.6 bp −$26	73.8 bp −$738	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.91 bp	3.8 bp −$4	8.3 bp −$83	28.9 bp −$2,889	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	−0.0932%	8h	164.70	+0.167%	$27.8M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0006%	8h	164.47	+0.027%	$4.6M	$18.6M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.40	−0.015%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.59	+0.100%	$2.8M	$73K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0004%	8h	164.59	+0.100%	$20.6M	$99.6M	50x	as long as short
Lighter MSTRshort	+0.0032%	1h	164.51	+0.052%	$3.5M	$1.9M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	164.34	−0.052%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.989%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.47	+0.027%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.62	+0.119%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.38	−0.027%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.41	−0.009%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.52	+0.058%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.33	−0.058%	$858K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.43	+0.003%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0074%	8h	164.54	+0.073%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.46	+0.019%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.36	−0.040%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.41	−0.009%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.45	+0.015%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.44	+0.008%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0133%	8h	164.59	+0.100%	$88.0M	$617.2M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.51	+0.051%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0154%	8h	164.72	+0.182%	$77K	$772K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.185%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.50	+0.043%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0238%	1h	164.42	−0.003%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERPlong	+0.0245%	1h	164.42	long leg	$121K	$148K	3x
BloFin MSTR-USDT	+0.0252%	8h	164.57	+0.088%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0364%	8h	164.64	+0.131%	$17.0M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0795%	4h	164.42	−0.002%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0846%	1h	164.48	+0.033%	$280K	$438K	10x	as long as short