MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.092%

Price spread now: Lighter against Arcus−0.055%7-day average −0.054% · 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−$31as in the Price arb table

costs, in and out, $10k−$310.305% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now −0.055%, 7d avg −0.054%

Together, before fees−0.120%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	165.08	0.0040	pay 0.0005% / 1h	25m 50s	$27K	$112K	10x
Short	Lighter MSTR	164.99	0.0032	get 0.0004% / 1h	25m 50s	$3.5M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$1.74
Price spread: −0.055% → −0.054%: −$0.08
Slippage, 4 orders: −$26.01
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$32.33
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Arcus: live order book, 37 min ago; Lighter: live order book, 7 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 Arcus live order book, 37 min ago	6.68 bp	11.3 bp −$11	41.3 bp −$413	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.61 bp	3.8 bp −$4	9.3 bp −$93	38.4 bp −$3,841	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	−0.1164%	8h	165.16	+0.048%	$27.8M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.94	−0.085%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.04	−0.024%	$20.7M	$99.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.08	0.000%	$4.6M	$18.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.07	−0.006%	$2.8M	$71K	10x	as long as short
Variational Omni MSTR	+0.0031%	8h	165.03	−0.030%	$1.2M	$2.1M	—	as long as short
Lighter MSTRshort	+0.0032%	1h	164.99	−0.055%	$3.5M	$1.9M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	164.85	−0.136%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.581%	$8K	$26K	30x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	165.08	long leg	$27K	$112K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.00	−0.048%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.96	−0.073%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.78	−0.182%	$862K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.93	−0.091%	$1.4M	$7.6M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0070%	1h	164.92	−0.097%	$54.9M	$36.8M	10x	as long as short
Binance MSTRUSDT	+0.0099%	8h	165.07	−0.007%	$88.4M	$618.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.89	−0.113%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.91	−0.103%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.15	+0.042%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.01	−0.042%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.02	−0.035%	$137	—	10x	as long as short
SoDEX MSTR-USD	+0.0133%	1h	165.03	−0.030%	$43K	$3K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0139%	8h	164.92	−0.097%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0167%	8h	165.20	+0.073%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.600%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0218%	1h	164.93	−0.089%	$122K	$150K	3x	as long as short
BloFin MSTR-USDT	+0.0221%	8h	165.00	−0.048%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.02	−0.034%	$270K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.09	+0.007%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	165.08	0.000%	$17.2M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0473%	4h	165.16	+0.049%	$50K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0902%	1h	165.09	+0.006%	$281K	$438K	10x	as long as short