Funding you earn now, next payment 06:00 UTC−0.0002%/8h= −0.2% APRnext payment −$0.00 per $10,000 · paid last 24h +0.004%
Price spread now: Lighter against Polymarket Perps−0.031%45s7-day average +0.012% · 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—prices read too far apart to compare
costs, in and out, $10k−$220.218% of the position
Funding, last 7 days−0.056%−$6 on $10k
+Price spread, last 7 days+0.124%+$12 · spread now −0.031%, 7d avg +0.012%
=Together, before fees+0.068%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.042% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MSTR-USD | 163.56 | 0.0050 | pay 0.0006% / 1h | 54m 40s | $379K | $2.7M | 10x |
| Short | Lighter MSTR | 163.51 | 0.0048 | get 0.0006% / 1h | 54m 40s | $3.5M | $1.9M | 10x |
Polymarket Perps MSTR-USD
Lighter MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Polymarket Perps. 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
- −$0.42
- Price spread: −0.031% → +0.012%
- −$4.23
- Slippage, 4 orders
- −$13.79
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$26.44
- Costs to cover
- 0.218%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 4 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 Polymarket Perps live order book, 4 min ago | 2.75 bp | 8.7 bp −$9 | 9.2 bp −$92 | 11.5 bp −$1,154 | doesn't fit |
| Sell Lighter live order book, 3 min ago | 1.22 bp | 3.2 bp −$3 | 8.8 bp −$88 | 33.1 bp −$3,308 | 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 | −0.0986% | 8h | 163.79 | +0.141% | $27.0M | $116.9M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 163.58 | +0.012% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.65 | +0.055% | $4.6M | $19.1M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.00 | +0.269% | $2.8M | $77K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.43 | −0.079% | $599K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.534% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.75 | +0.116% | $26K | $109K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.33 | −0.141% | — | $1.7M | 25x | as long as short |
| Lighter MSTRshort | +0.0048% | 1h | 163.51 | −0.031% | $3.5M | $1.9M | 10x | |
| Polymarket Perps MSTR-USDlong | +0.0050% | 1h | 163.56 | long leg | $379K | $2.7M | 10x |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX MSTR-USD | +0.0050% | 1h | 163.64 | +0.049% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 163.65 | +0.055% | $817K | $3.9M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0051% | 8h | 163.64 | +0.049% | $20.7M | $99.1M | 50x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 163.65 | +0.055% | $1.4M | $7.2M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 163.63 | +0.043% | $265K | $446K | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0088% | 8h | 163.56 | 0.000% | $65 | — | 5x | as long as short |
| Variational Omni MSTR | +0.0094% | 8h | 163.78 | +0.135% | $1.2M | $2.1M | — | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.60 | +0.023% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.47 | −0.055% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.61 | +0.031% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.58 | +0.012% | $4K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.58 | +0.012% | $136 | — | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0153% | 8h | 163.82 | +0.159% | $83K | $824K | 10x | as long as short |
| Binance MSTRUSDT | +0.0160% | 8h | 163.63 | +0.040% | $85.8M | $619.4M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.57 | +0.006% | $1.4M | $1.1M | 10x | as long as short |
| Nado MSTR-PERP | +0.0277% | 1h | 163.41 | −0.091% | $121K | $148K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0280% | 8h | 163.68 | +0.073% | $1.0M | $2.1M | 20x | as long as short |
| tradeXYZ xyz:MSTR | +0.0299% | 1h | 163.57 | +0.006% | $54.5M | $37.1M | 10x | as long as short |
| Bybit MSTRUSDT | +0.0321% | 8h | 163.67 | +0.067% | $16.6M | $41.2M | 50x | as long as short |
| Phoenix MSTR | +0.0340% | 1h | 163.63 | +0.040% | $56K | $226K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0668% | 1h | 163.58 | +0.012% | $278K | $438K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0842% | 4h | 163.64 | +0.048% | $48K | $5.4M | 10x | as long as short |
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
OKX MSTR-USDT-SWAP
QFEX MSTR-USD
RISEx MSTR/USDC
Paradex MSTR-USD-PERP
Variational Omni MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
GRVT MSTR_USDT_Perp
Binance MSTRUSDT
Coinbase International MSTR-PERP-INTX
Nado MSTR-PERP
BloFin MSTR-USDT
tradeXYZ xyz:MSTR
Bybit MSTRUSDT
Phoenix MSTR
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC