Settings8H · net · $10k
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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC+0.0086%/8h= +9.4% APRnext payment +$0.11 per $10,000 · paid last 24h +0.004%
Price spread now: Lighter against Ondo Perps+0.055%7-day average +0.011% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days−0.009%−$1 on $10k
Price spread, last 7 days−0.077%−$8 · spread now +0.055%, 7d avg +0.011%
Together, before fees−0.086%+ Points / potential airdropOndo Perps: Active · Lighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.044% dearer against Ondo Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.011%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps MSTR-USD.P163.480.0050pay 0.0006% / 1h57m 24s$845K$3.9M10x
ShortLighter MSTR163.570.0136get 0.0017% / 1h57m 24s$3.5M$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Ondo Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$17.98
Price spread: +0.055% → +0.011%
$4.42
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Lighter: 0 bp × 2 orders
$0
Net
$17.39
Costs to cover
0.050%
Break-even
0.2 days
Slippage unknown: Ondo Perps: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell Lighter live order book, 5 min ago0.61 bp4.8 bp −$59.1 bp −$9139.4 bp −$3,939doesn't fit
Ondo Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0915%8h163.64+0.098%$28.7M$119.2M25xas long as short
Gate MSTR_USDT0.0000%8h163.60+0.073%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37−0.067%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0015%8h163.40−0.051%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.34−0.086%$511K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.585%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.72+0.147%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0044%1h163.42−0.037%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.480.000%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.57+0.055%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.Plong+0.0050%1h163.48long leg$845K$3.9M10x
QFEX MSTR-USD+0.0057%1h163.50+0.012%$1.3M$7.3M10xas long as short
Pacifica MSTR+0.0100%1h163.47−0.009%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.53+0.031%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.66+0.110%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.51+0.018%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.50+0.011%$136—10xas long as short
OKX MSTR-USDT-SWAP+0.0121%8h163.54+0.037%$20.8M$100.8M50xas long as short
Lighter MSTRshort+0.0136%1h163.57+0.055%$3.5M$2.0M10x
Variational Omni MSTR+0.0141%8h163.71+0.144%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0141%8h163.56+0.048%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.199%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0194%1h163.44−0.024%$54.2M$37.5M10xas long as short
Binance MSTRUSDT+0.0216%8h163.56+0.049%$83.9M$629.1M50xas long as short
GRVT MSTR_USDT_Perp+0.0226%8h163.78+0.185%$83K$865K10xas long as short
BloFin MSTR-USDT+0.0332%8h163.50+0.012%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0362%1h163.67+0.119%$56K$223K10xas long as short
Nado MSTR-PERP+0.0371%1h163.48−0.002%$131K$157K3xas long as short
Bybit MSTRUSDT+0.0373%8h163.51+0.018%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.53+0.028%$263K$437K10xas long as short
edgeX MSTRUSDC+0.0458%4h163.50+0.015%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1218%1h163.71+0.141%$278K$438K10xas long as short