MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.09 per $10,000 · paid last 24h −0.010%

Price spread now: Lighter against Pacifica−0.017%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.017%, 7d avg −0.026%

Together, before fees−0.053%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	166.46	0.0100	pay 0.0013% / 1h	57m 25s	$102K	$74K	10x
Short	Lighter MSTR	166.43	0.0032	get 0.0004% / 1h	57m 25s	$3.5M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$14.28
Price spread: −0.017% → −0.026%: $0.89
Slippage, 4 orders: −$13.92
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$35.31
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from Pacifica: live order book, 53 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 Pacifica live order book, 53 min ago	1.09 bp	5.1 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.90 bp	2.8 bp −$3	6.6 bp −$66	34.1 bp −$3,408	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.744%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.52	+0.037%	$4.9M	$17.5M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.56	+0.061%	$32.1M	$106.4M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.42	−0.023%	$2.8M	$86K	10x	as long as short
Lighter MSTRshort	+0.0032%	1h	166.43	−0.017%	$3.5M	$1.7M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	166.37	−0.052%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.76	+0.181%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.47	+0.007%	$1.3M	$6.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.46	+0.001%	$384K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.47	+0.007%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.26	−0.119%	$874K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.407%	$1.4M	$390K	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	166.46	long leg	$102K	$74K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	166.36	−0.059%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.15	−0.185%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.55	+0.055%	$3K	$10K	10x	as long as short
Nado MSTR-PERP	+0.0102%	1h	166.49	+0.019%	$128K	$133K	3x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.49	+0.019%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	166.49	+0.016%	$67	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0205%	1h	166.50	+0.025%	$55.0M	$34.5M	10x	as long as short
Aster MSTRUSDT	+0.0250%	8h	166.52	+0.037%	$1.8M	$7.0M	50x	as long as short
Bybit MSTRUSDT	+0.0250%	8h	166.57	+0.067%	$17.2M	$38.2M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0289%	8h	166.59	+0.079%	$21.6M	$84.5M	50x	as long as short
Variational Omni MSTR	+0.0329%	8h	166.18	−0.166%	$1.2M	$1.6M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.40	−0.032%	$56K	$213K	10x	as long as short
Binance MSTRUSDT	+0.0434%	8h	166.52	+0.040%	$87.2M	$541.6M	50x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.47	+0.010%	$275K	$353K	10x	as long as short
edgeX MSTRUSDC	+0.0452%	4h	166.18	−0.169%	$48K	$5.0M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0471%	1h	166.50	+0.025%	$283K	$209K	10x	as long as short
BloFin MSTR-USDT	+0.0549%	8h	166.54	+0.049%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0553%	8h	166.44	−0.012%	$85K	$863K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.59	+0.079%	$26K	$71K	10x	as long as short