MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Polymarket Perps+0.006%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 7 days−0.153%−$15 · spread now +0.006%, 7d avg +0.006%

Together, before fees−0.208%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	169.28	0.0050	pay 0.0006% / 1h	24m 12s	$414K	$2.7M	10x
Short	Lighter MSTR	169.29	0.0032	get 0.0004% / 1h	24m 12s	$3.6M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$3.78
Price spread: +0.006% → +0.006%: −$0.02
Slippage, 4 orders: −$10.94
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.74
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Lighter: live order book, 3 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 Polymarket Perps live order book, 5 min ago	1.48 bp	6.5 bp −$7	8.2 bp −$82	10.8 bp −$1,075	doesn't fit
Sell Lighter live order book, 3 min ago	1.19 bp	2.5 bp −$3	4.5 bp −$45	30.8 bp −$3,078	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
Nado MSTR-PERP	−0.0103%	1h	169.20	−0.046%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.18	−0.059%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.40	+0.071%	$88.5M	$631.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.41	+0.077%	$22.1M	$107.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.38	+0.059%	$276K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.30	+0.012%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.72	−0.329%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.84	−0.262%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.39	+0.065%	$2.9M	$62K	10x	as long as short
BloFin MSTR-USDT	+0.0018%	8h	169.34	+0.035%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0029%	8h	169.37	+0.053%	$28.9M	$119.9M	25x	as long as short
Lighter MSTRshort	+0.0032%	1h	169.29	+0.006%	$3.6M	$2.5M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	169.15	−0.076%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.35	+0.041%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.30	+0.012%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	169.28	long leg	$414K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	169.33	+0.030%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.95	−0.195%	$744K	$5.2M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.366%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0058%	8h	169.45	+0.100%	$15.2M	$41.0M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0075%	8h	169.29	+0.006%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0078%	1h	169.28	0.000%	$57.1M	$37.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.33	+0.030%	$104K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.16	−0.071%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.73	−0.325%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.22	−0.035%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.20	−0.046%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	168.76	−0.306%	$56K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.006%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0351%	4h	168.76	−0.310%	$47K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.39	+0.065%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1050%	1h	169.42	+0.083%	$288K	$439K	10x	as long as short