MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0002%/8h= +0.3% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Ondo Perps against Lighter−0.162%7-day average −0.014% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 7 days−0.021%−$2 · spread now −0.162%, 7d avg −0.014%

Together, before fees−0.016%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · 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: Ondo Perps is 0.149% cheaper against Lighter than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	166.24	0.0048	pay 0.0006% / 1h	16m 45s	$3.5M	$1.8M	10x
Short	Ondo Perps MSTR-USD.P	165.97	0.0050	get 0.0006% / 1h	16m 45s	$882K	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.162%Rate

Funding earned: $0.5
Price spread: −0.162% → −0.014%: −$14.88
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.38
Costs to cover: 0.050%
Break-even: 276.1 days

Slippage unknown: Lighter: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 4 min ago	1.50 bp	1.5 bp −$2	2.8 bp −$28	35.3 bp −$3,533	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 exchanges

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
Gate MSTR_USDT	0.0000%	8h	166.34	+0.060%	$4.9M	$18.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.36	+0.072%	$32.0M	$107.2M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.26	+0.012%	$2.8M	$85K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.14	−0.061%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.43	+0.114%	—	$1.7M	25x	as long as short
Lighter MSTRlong	+0.0048%	1h	166.24	long leg	$3.5M	$1.8M	10x
Polymarket Perps MSTR-USD	+0.0050%	1h	166.24	0.000%	$384K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.25	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	165.97	−0.162%	$882K	$3.4M	10x
QFEX MSTR-USD	+0.0076%	1h	166.25	+0.006%	$1.3M	$6.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex MSTR-USD-PERP	+0.0098%	8h	166.28	+0.026%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	166.20	−0.026%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.07	−0.102%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.92	−0.192%	$6K	$162K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.25	+0.006%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.28	+0.022%	$138	—	10x	as long as short
Nado MSTR-PERP	+0.0105%	1h	166.21	−0.019%	$127K	$133K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	165.78	−0.277%	$1.4M	$394K	10x	as long as short
Aster MSTRUSDT	+0.0204%	8h	166.26	+0.009%	$1.8M	$7.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0262%	1h	166.29	+0.030%	$54.9M	$34.7M	10x	as long as short
Bybit MSTRUSDT	+0.0262%	8h	166.35	+0.066%	$17.2M	$38.8M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0271%	8h	166.32	+0.048%	$21.6M	$86.5M	50x	as long as short
Variational Omni MSTR	+0.0287%	8h	166.04	−0.120%	$1.2M	$1.7M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.15	−0.055%	$56K	$217K	10x	as long as short
Binance MSTRUSDT	+0.0387%	8h	166.29	+0.033%	$87.1M	$551.0M	50x	as long as short
edgeX MSTRUSDC	+0.0405%	4h	166.10	−0.084%	$50K	$5.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0431%	8h	166.16	−0.051%	$78K	$842K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	165.22	−0.614%	$7K	$28K	30x	as long as short
BloFin MSTR-USDT	+0.0502%	8h	166.26	+0.012%	$1.1M	$2.0M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0593%	1h	166.27	+0.018%	$283K	$219K	10x	as long as short
RISEx MSTR/USDC	+0.0598%	1h	166.30	+0.035%	$274K	$353K	10x	as long as short
Arcus MSTR-USD	+0.0942%	1h	166.37	+0.078%	$26K	$71K	10x	as long as short