MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0317%/8h= −34.7% APRnext payment −$0.40 per $10,000 · paid last 24h −0.116%

Price spread now: Lighter against RISEx−0.083%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$140.135% of the position

Long on RISEx Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.216%−$22 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.083%, 7d avg −0.062%

Together, before fees−0.232%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Lighter is 0.021% cheaper against RISEx than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.062%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	168.71	0.0349	pay 0.0044% / 1h	27m 29s	$275K	$433K	10x
Short	Lighter MSTR	168.57	0.0032	get 0.0004% / 1h	27m 29s	$3.6M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against RISEx. 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 RISExbpFee LighterbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$66.54
Price spread: −0.083% → −0.062%: −$2.07
Slippage, 4 orders: −$7.54
Fee RISEx: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$82.15
Costs to cover: 0.135%
Break-even: never at this rate

Slippage from RISEx: live order book, 46 min ago; Lighter: live order book, 5 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 RISEx live order book, 46 min ago	0.89 bp	3.9 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.48 bp	3.3 bp −$3	10.0 bp −$100	33.1 bp −$3,306	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
Nado MSTR-PERP	−0.0041%	1h	168.46	−0.150%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.71	+0.001%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.73	+0.012%	$21.7M	$101.0M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.62	−0.053%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.75	+0.024%	$28.4M	$113.7M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.68	−0.018%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.69	−0.012%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.83	+0.071%	$2.9M	$66K	10x	as long as short
Binance MSTRUSDT	+0.0029%	8h	168.72	+0.006%	$88.9M	$614.7M	50x	as long as short
Lighter MSTRshort	+0.0032%	1h	168.57	−0.083%	$3.6M	$2.0M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	168.52	−0.110%	$581K	$1.8M	10x	as long as short
BloFin MSTR-USDT	+0.0032%	8h	168.82	+0.065%	$1.1M	$1.9M	20x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.58	−0.077%	$1.4M	$9.2M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.75	+0.024%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.70	−0.006%	—	$1.8M	25x	as long as short
Bybit MSTRUSDT	+0.0046%	8h	168.66	−0.030%	$15.1M	$39.2M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.60	−0.065%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.85	+0.083%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.59	−0.071%	$756K	$5.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.148%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.53	−0.106%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.61	−0.057%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.61	−0.059%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.87	+0.095%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.87	+0.095%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.84	+0.079%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0203%	1h	168.66	−0.030%	$56.9M	$35.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.373%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.64	−0.044%	$56K	$384K	10x	as long as short
RISEx MSTR/USDClong	+0.0349%	1h	168.71	long leg	$275K	$433K	10x
edgeX MSTRUSDC	+0.0424%	4h	168.75	+0.025%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0520%	1h	168.91	+0.119%	$287K	$438K	10x	as long as short