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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 05:00 UTC+0.0199%/8h= +21.8% APRnext payment +$0.25 per $10,000 · paid last 24h +0.091%
Price spread now: RISEx against Lighter+0.014%7-day average +0.063% · 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−$22as in the Price arb table
costs, in and out, $10k−$180.176% of the position
Long on LighterShort on RISEx
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.223%+$22 on $10k
Price spread, last 4 days (all we have)+0.136%+$14 · spread now +0.014%, 7d avg +0.063%
Together, before fees+0.359%+ Points / potential airdropLighter: Season 3 · farm board+$36 on $10k · with fees, hour by hour
Funding pays, the price is against you. RISEx is 0.048% cheaper against Lighter than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.063%). If the spread goes back, that is −$5 on $10k: about 19 hours of funding at the current rate (+$6 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter MSTR163.810.0032pay 0.0004% / 1h5m 27s$3.5M$2.0M10x
ShortRISEx MSTR/USDC163.830.0231get 0.0029% / 1h5m 27s$266K$445K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

RISEx 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
$41.74
Price spread: +0.014% → +0.063%
−$4.83
Slippage, 4 orders
−$11.62
Fee Lighter: 0 bp × 2 orders
$0
Fee RISEx: 3 bp × 2 orders
−$6
Net
$19.29
Costs to cover
0.176%
Break-even
3.8 days
Slippage from Lighter: live order book, 2 min ago; RISEx: live order book, 48 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, 2 min ago1.22 bp2.8 bp −$36.6 bp −$6635.8 bp −$3,582doesn't fit
Sell RISEx live order book, 48 min ago2.73 bp5.7 bp −$67.0 bp −$70doesn'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−0.0974%8h163.98+0.104%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.82+0.008%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.89+0.049%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.95+0.085%$2.8M$77K10xas long as short
Lighter MSTRlong+0.0032%1h163.81long leg$3.5M$2.0M10x
Extended MSTR_24_5-USD+0.0032%1h163.64−0.101%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.376%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.87+0.037%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.84+0.018%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.60−0.128%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.80−0.006%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.86+0.031%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.77−0.024%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.78−0.018%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0074%8h163.83+0.011%$66—5xas long as short
Variational Omni MSTR+0.0091%8h163.89+0.047%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.83+0.012%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.72−0.055%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.67−0.085%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.89+0.049%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.88+0.044%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0148%8h163.85+0.027%$83K$837K10xas long as short
Binance MSTRUSDT+0.0157%8h163.85+0.022%$86.0M$619.1M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.147%$1.4M$1.1M10xas long as short
RISEx MSTR/USDCshort+0.0231%1h163.83+0.014%$266K$445K10x
Nado MSTR-PERP+0.0240%1h163.72−0.054%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0256%1h163.810.000%$54.6M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.82+0.006%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0316%8h163.89+0.049%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78−0.018%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0686%4h163.69−0.072%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0727%1h163.97+0.098%$279K$438K10xas long as short