Funding you earn now, next payment 07:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h +0.011%
Price spread now: Coinbase International against Lighter−1.054%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$126as in the Price arb table
costs, in and out, $10k−$260.259% of the position
Funding, last 7 days+0.145%+$15 on $10k
+Price spread, last 4 days (all we have)+1.076%+$108 · spread now −1.054%, 7d avg −0.055%
=Together, before fees+1.221%+ Points / potential airdropLighter: Season 3 · farm board+$122 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Coinbase International is 0.998% cheaper against Lighter than usual: you would sell low and buy high (−$100 if the spread goes back to its 7-day average of −0.055%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 163.24 | 0.0152 | pay 0.0019% / 1h | 57m 52s | $3.5M | $2.0M | 10x |
| Short | Coinbase International MSTR-PERP-INTX | 161.52 | 0.0136 | get 0.0017% / 1h | 57m 52s | $1.4M | $1.1M | 10x |
Lighter MSTR
Coinbase International MSTR-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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
- −$3.36
- Price spread: −1.054% → −0.055%
- −$99.82
- Slippage, 4 orders
- −$15.89
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$129.07
- Costs to cover
- 0.259%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Coinbase International: live order book, 1 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 | 1.22 bp | 2.8 bp −$3 | 6.3 bp −$63 | 38.5 bp −$3,848 | doesn't fit |
| Sell Coinbase International live order book, 1 min ago | 4.59 bp | 10.6 bp −$11 | 14.7 bp −$147 | 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 | −0.0576% | 8h | 163.55 | +0.190% | $29.1M | $119.0M | 25x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.44 | +0.123% | $4.7M | $19.4M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.39 | +0.092% | $2.7M | $80K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.19 | −0.028% | $507K | $2.0M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.737% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.58 | +0.208% | $26K | $113K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.23 | −0.006% | — | $1.8M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.25 | +0.006% | $378K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 163.37 | +0.080% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 163.37 | +0.080% | $846K | $3.8M | 10x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.PShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MSTRUSDT | +0.0066% | 8h | 163.19 | −0.028% | $1.8M | $8.7M | 50x | as long as short |
| QFEX MSTR-USD | +0.0067% | 1h | 163.35 | +0.067% | $1.3M | $7.2M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.39 | +0.091% | $100K | $88K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.37 | +0.080% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.20 | −0.025% | $5K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.38 | +0.086% | $2K | $13K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.38 | +0.086% | $136 | — | 10x | as long as short |
| Coinbase International MSTR-PERP-INTXshort | +0.0136% | 1h | 161.52 | −1.054% | $1.4M | $1.1M | 10x | |
| Lighter MSTRlong | +0.0152% | 1h | 163.24 | long leg | $3.5M | $2.0M | 10x | |
| Paradex MSTR-USD-PERP | +0.0173% | 8h | 163.31 | +0.040% | $65 | — | 5x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0185% | 8h | 163.41 | +0.104% | $20.8M | $100.0M | 50x | as long as short |
| Variational Omni MSTR | +0.0187% | 8h | 163.34 | +0.059% | $1.2M | $2.1M | — | as long as short |
| Binance MSTRUSDT | +0.0261% | 8h | 163.34 | +0.059% | $84.1M | $624.7M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0274% | 8h | 163.40 | +0.098% | $76K | $865K | 10x | as long as short |
| Phoenix MSTR | +0.0328% | 1h | 163.53 | +0.176% | $56K | $223K | 10x | as long as short |
| BloFin MSTR-USDT | +0.0381% | 8h | 163.43 | +0.116% | $1.0M | $2.1M | 20x | as long as short |
| Nado MSTR-PERP | +0.0397% | 1h | 163.20 | −0.027% | $130K | $157K | 3x | as long as short |
| Bybit MSTRUSDT | +0.0408% | 8h | 163.42 | +0.110% | $17.1M | $41.8M | 50x | as long as short |
| edgeX MSTRUSDC | +0.0472% | 4h | 163.41 | +0.104% | $46K | $5.4M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0493% | 1h | 163.40 | +0.099% | $266K | $425K | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0560% | 1h | 163.36 | +0.074% | $54.0M | $37.8M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0914% | 1h | 163.44 | +0.123% | $278K | $437K | 10x | as long as short |
Aster MSTRUSDT
QFEX MSTR-USD
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
OKX MSTR-USDT-SWAP
Variational Omni MSTR
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
Phoenix MSTR
BloFin MSTR-USDT
Nado MSTR-PERP
Bybit MSTRUSDT
edgeX MSTRUSDC
RISEx MSTR/USDC
tradeXYZ xyz:MSTR
Deribit MSTR_USDC-PERPETUAL