Funding you earn now, next payment 05:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.018%
Price spread now: Lighter against SoDEX−0.092%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.092% cheaper against SoDEX than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MSTR-USD | 163.78 | 0.0050 | pay 0.0006% / 1h | 22m 42s | $43K | $3K | 10x |
| Short | Lighter MSTR | 163.63 | 0.0032 | get 0.0004% / 1h | 22m 42s | $3.5M | $1.9M | 10x |
SoDEX MSTR-USD
Lighter MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against SoDEX. 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
- −$3.78
- Price spread: −0.092% → 0.000%
- −$9.16
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$20.94
- Costs to cover
- 0.080%
- Break-even
- never at this rate
Slippage unknown: SoDEX: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy SoDEX no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 5 min ago | 0.61 bp | 3.0 bp −$3 | 6.2 bp −$62 | 33.4 bp −$3,344 | doesn't fit |
SoDEX: 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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSTRUSDT | −0.0935% | 8h | 163.91 | +0.079% | $28.0M | $115.7M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 163.76 | −0.013% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.84 | +0.037% | $4.6M | $19.1M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.91 | +0.079% | $2.8M | $77K | 10x | as long as short |
| Lighter MSTRshort | +0.0032% | 1h | 163.63 | −0.092% | $3.5M | $1.9M | 10x | |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.63 | −0.092% | $589K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.395% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.05 | +0.165% | $26K | $110K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0045% | 8h | 163.66 | −0.073% | $20.7M | $98.8M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.59 | −0.116% | — | $1.7M | 25x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
OKX MSTR-USDT-SWAP
Vest MSTR-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.74 | −0.024% | $379K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USDlong | +0.0050% | 1h | 163.78 | long leg | $43K | $3K | 10x | |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 163.63 | −0.092% | $867K | $3.9M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0064% | 8h | 163.64 | −0.086% | $65 | — | 5x | as long as short |
| QFEX MSTR-USD | +0.0067% | 1h | 163.84 | +0.037% | $1.4M | $7.3M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.71 | −0.044% | $100K | $84K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.77 | −0.006% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.88 | +0.061% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.80 | +0.012% | $4K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.82 | +0.024% | $136 | — | 10x | as long as short |
| Variational Omni MSTR | +0.0106% | 8h | 163.95 | +0.107% | $1.2M | $2.1M | — | as long as short |
| Binance MSTRUSDT | +0.0166% | 8h | 163.72 | −0.037% | $86.4M | $617.1M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.88 | +0.061% | $1.4M | $1.1M | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0171% | 8h | 164.00 | +0.135% | $75K | $825K | 10x | as long as short |
| RISEx MSTR/USDC | +0.0231% | 1h | 163.84 | +0.037% | $266K | $445K | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0259% | 1h | 163.68 | −0.061% | $54.5M | $37.1M | 10x | as long as short |
| Nado MSTR-PERP | +0.0259% | 1h | 163.66 | −0.076% | $121K | $148K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0288% | 8h | 163.84 | +0.037% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0325% | 8h | 163.69 | −0.055% | $16.6M | $41.1M | 50x | as long as short |
| Phoenix MSTR | +0.0340% | 1h | 163.95 | +0.106% | $56K | $226K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0656% | 4h | 163.98 | +0.124% | $49K | $5.3M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0850% | 1h | 163.84 | +0.037% | $279K | $438K | 10x | as long as short |
Polymarket Perps MSTR-USD
Ondo Perps MSTR-USD.P
Paradex MSTR-USD-PERP
QFEX MSTR-USD
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Variational Omni MSTR
Binance MSTRUSDT
Coinbase International MSTR-PERP-INTX
GRVT MSTR_USDT_Perp
RISEx MSTR/USDC
tradeXYZ xyz:MSTR
Nado MSTR-PERP
BloFin MSTR-USDT
Bybit MSTRUSDT
Phoenix MSTR
edgeX MSTRUSDC
Deribit MSTR_USDC-PERPETUAL