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: Arcus against Lighter+0.152%7-day average +0.054% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

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

Long on Lighter Short on Arcus

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)+0.006%+$1 · spread now +0.152%, 7d avg +0.054%

Together, before fees+0.023%+ Points / potential airdropLighter: Season 3 · farm board+$2 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: Arcus is 0.098% dearer against Lighter than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	164.85	0.0032	pay 0.0004% / 1h	27m 00s	$3.5M	$1.9M	10x
Short	Arcus MSTR-USD	165.10	0.0040	get 0.0005% / 1h	27m 00s	$27K	$112K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now +0.152%Rate

Funding earned: $1.74
Price spread: +0.152% → +0.054%: $9.8
Slippage, 4 orders: −$26.01
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$18.98
Costs to cover: 0.305%
Break-even: 83.4 days

Slippage from Lighter: live order book, 5 min ago; Arcus: live order book, 36 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 Lighter live order book, 5 min ago	0.61 bp	2.8 bp −$3	5.0 bp −$50	30.4 bp −$3,039	doesn't fit
Sell Arcus live order book, 36 min ago	6.68 bp	12.6 bp −$13	37.7 bp −$377	doesn't fit	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	−0.1175%	8h	165.06	+0.127%	$27.7M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.89	+0.027%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.01	+0.097%	$20.7M	$99.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.01	+0.097%	$4.6M	$18.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.03	+0.109%	$2.8M	$71K	10x	as long as short
Lighter MSTRlong	+0.0032%	1h	164.85	long leg	$3.5M	$1.9M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	164.63	−0.136%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.724%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0034%	8h	165.14	+0.177%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USDshort	+0.0040%	1h	165.10	+0.152%	$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	165.07	+0.133%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.93	+0.049%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.94	+0.055%	$868K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.98	+0.079%	$1.4M	$7.6M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0062%	1h	164.81	−0.024%	$54.9M	$36.8M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.92	+0.040%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.86	+0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.15	+0.182%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.95	+0.061%	$3K	$8K	10x	as long as short
Binance MSTRUSDT	+0.0101%	8h	164.94	+0.057%	$88.4M	$618.3M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.92	+0.045%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0139%	8h	164.97	+0.072%	$66	—	5x	as long as short
SoDEX MSTR-USD	+0.0153%	1h	164.92	+0.042%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0167%	8h	165.20	+0.212%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.461%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	164.90	+0.033%	$122K	$150K	3x	as long as short
BloFin MSTR-USDT	+0.0221%	8h	165.00	+0.091%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.03	+0.106%	$270K	$447K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0296%	1h	164.98	+0.079%	$281K	$438K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.09	+0.146%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0338%	8h	164.96	+0.067%	$17.2M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0473%	4h	165.16	+0.189%	$50K	$5.4M	10x	as long as short