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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0176%/8h= −19.3% APRnext payment −$0.22 per $10,000 · paid last 24h −0.002%
Price spread now: Extended against Lighter−0.015%7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$180.181% of the position
Long on LighterShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days+0.059%+$6 on $10k
Price spread, last 7 days+0.061%+$6 · spread now −0.015%, 7d avg −0.019%
Together, before fees+0.120%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.059%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter MSTR163.400.0208pay 0.0026% / 1h46m 07s$3.5M$1.9M10x
ShortExtended MSTR_24_5-USD163.380.0032get 0.0004% / 1h46m 07s$596K$1.9M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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

Funding earned
−$36.96
Price spread: −0.015% → −0.019%
$0.38
Slippage, 4 orders
−$13.13
Fee Lighter: 0 bp × 2 orders
$0
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$54.72
Costs to cover
0.181%
Break-even
never at this rate
Slippage from Lighter: live order book, 6 min ago; Extended: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 6 min ago0.92 bp1.5 bp −$16.3 bp −$6333.4 bp −$3,344doesn't fit
Sell Extended live order book, 2 min ago1.83 bp8.2 bp −$827.5 bp −$275doesn't fitdoesn't fit

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−0.0963%8h163.71+0.190%$27.0M$117.1M25xas long as short
Aster MSTRUSDT0.0000%8h163.47+0.044%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.60+0.122%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h163.86+0.282%$2.8M$77K10xas long as short
Extended MSTR_24_5-USDshort+0.0032%1h163.38−0.015%$596K$1.9M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.635%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.83+0.263%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.32−0.049%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.47+0.043%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.50+0.061%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.92+0.318%$829K$3.9M10xas long as short
QFEX MSTR-USD+0.0054%1h163.59+0.116%$1.4M$7.2M10xas long as short
OKX MSTR-USDT-SWAP+0.0074%8h163.53+0.080%$20.8M$99.7M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.58+0.111%$265K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.59+0.113%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.39−0.006%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.69+0.177%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.49+0.055%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.48+0.052%$136—10xas long as short
Variational Omni MSTR+0.0108%8h163.54+0.083%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0117%8h163.52+0.073%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0168%8h163.91+0.312%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57+0.104%$1.4M$1.1M10xas long as short
Binance MSTRUSDT+0.0175%8h163.50+0.062%$85.7M$619.6M50xas long as short
Lighter MSTRlong+0.0208%1h163.40long leg$3.5M$1.9M10x
BloFin MSTR-USDT+0.0294%8h163.80+0.245%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0338%8h163.54+0.086%$16.7M$41.2M50xas long as short
tradeXYZ xyz:MSTR+0.0351%1h163.50+0.061%$54.4M$37.1M10xas long as short
Nado MSTR-PERP+0.0352%1h163.37−0.016%$121K$148K3xas long as short
Phoenix MSTR+0.0362%1h163.90+0.306%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0914%1h163.46+0.037%$278K$438K10xas long as short
edgeX MSTRUSDC+0.0945%4h163.74+0.209%$49K$5.4M10xas long as short