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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0079%/8h= +8.6% APRnext payment +$0.10 per $10,000 · paid last 24h −0.030%
Price spread now: Lighter against Injective−3.401%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.053%+$5 on $10k
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Funding pays, the price is against you. Lighter is 3.401% cheaper against Injective than usual: you would sell low and buy high (spread −3.401% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$340 on $10k: about 5 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.053% in total) that is about 15 months.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective MSTR/USDC PERP169.340.0033pay 0.0004% / 1h14m 28s$8K$26K30x
ShortLighter MSTR163.580.0112get 0.0014% / 1h14m 28s$3.5M$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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

Funding earned
$16.52
Price spread: −3.401% → 0.000%
−$340.14
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Lighter: 0 bp × 2 orders
$0
Net
−$323.64
Costs to cover
0.000%
Break-even
144.1 days
Slippage unknown: Injective: no order-book sample; Lighter: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective no order-book sample—————
Sell Lighter live order book, 3 min ago1.22 bp3.4 bp −$36.3 bp −$6339.1 bp −$3,908doesn't fit
Injective: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0730%8h163.75−3.301%$29.2M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.67−3.348%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.77−3.289%$2.8M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.47−3.466%$511K$2.0M10xas long as short
Injective MSTR/USDC PERPlong+0.0033%1h169.34long leg$8K$26K30x
Arcus MSTR-USD+0.0040%1h163.77−3.289%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.61−3.384%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.54−3.425%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.56−3.413%$850K$3.9M10xas long as short
Aster MSTRUSDT+0.0053%8h163.51−3.443%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.62−3.378%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.63−3.372%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.59−3.396%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.74−3.307%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.72−3.319%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.72−3.319%$136—10xas long as short
SoDEX MSTR-USD+0.0108%1h163.69−3.336%$43K$3K10xas long as short
Lighter MSTRshort+0.0112%1h163.58−3.401%$3.5M$2.0M10x
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−4.618%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0163%8h163.59−3.397%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0165%8h163.61−3.384%$20.8M$100.3M50xas long as short
Variational Omni MSTR+0.0175%8h163.69−3.339%$1.2M$2.1M—as long as short
tradeXYZ xyz:MSTR+0.0244%1h163.53−3.431%$54.2M$37.2M10xas long as short
Binance MSTRUSDT+0.0250%8h163.62−3.380%$84.1M$626.7M50xas long as short
GRVT MSTR_USDT_Perp+0.0267%8h163.79−3.275%$84K$878K10xas long as short
Phoenix MSTR+0.0328%1h163.73−3.315%$56K$223K10xas long as short
Nado MSTR-PERP+0.0358%1h163.50−3.450%$131K$157K3xas long as short
BloFin MSTR-USDT+0.0370%8h163.77−3.289%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.67−3.348%$265K$425K10xas long as short
Bybit MSTRUSDT+0.0386%8h163.65−3.360%$17.1M$41.9M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0422%1h163.72−3.319%$278K$437K10xas long as short
edgeX MSTRUSDC+0.0874%4h163.79−3.277%$46K$5.4M10xas long as short