MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0286%/8h= +31.3% APRnext payment +$0.36 per $10,000 · paid last 24h +0.020%

Price spread now: Nado against Lighter−0.065%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.121%−$12 on $10k

Price spread, last 4 days (all we have)+1.263%+$126 · spread now −0.065%, 7d avg +0.023%

Together, before fees+1.142%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$114 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.088% cheaper against Lighter than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of +0.023%). If the spread goes back, that is −$9 on $10k: about 25 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 4 days funding on this pair cost −0.121%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	163.43	0.0096	pay 0.0012% / 1h	51m 20s	$3.5M	$2.0M	10x
Short	Nado MSTR-PERP	163.32	0.0382	get 0.0048% / 1h	51m 20s	$130K	$157K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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

Position, each leg$Hold fordaysFee LighterbpFee NadobpOrdersPrice spread, now −0.065%Rate

Funding earned: $60.08
Price spread: −0.065% → +0.023%: −$8.84
Slippage, 4 orders: −$52.59
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$8.35
Costs to cover: 0.596%
Break-even: 8.0 days

Slippage from Lighter: live order book, 6 min ago; Nado: live order book, 51 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, 6 min ago	1.22 bp	3.4 bp −$3	6.1 bp −$61	39.3 bp −$3,935	doesn't fit
Sell Nado live order book, 51 min ago	7.06 bp	28.6 bp −$29	85.8 bp −$858	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	−0.0556%	8h	163.58	+0.092%	$29.2M	$118.9M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.59	+0.098%	$4.7M	$19.4M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.44	+0.006%	$2.8M	$81K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.38	−0.031%	$502K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.616%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.52	+0.055%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.35	−0.049%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.50	+0.043%	$378K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.33	−0.061%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.13	−0.184%	$857K	$3.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0067%	1h	163.53	+0.061%	$1.3M	$7.1M	10x	as long as short
Aster MSTRUSDT	+0.0069%	8h	163.36	−0.042%	$1.8M	$8.7M	50x	as long as short
Lighter MSTRlong	+0.0096%	1h	163.43	long leg	$3.5M	$2.0M	10x
Pacifica MSTR	+0.0100%	1h	163.56	+0.079%	$100K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.40	−0.018%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.14	−0.177%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.47	+0.024%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.47	+0.022%	$136	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0136%	1h	161.52	−1.169%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0175%	8h	163.44	+0.008%	$65	—	5x	as long as short
Variational Omni MSTR	+0.0193%	8h	163.27	−0.095%	$1.2M	$2.0M	—	as long as short
OKX MSTR-USDT-SWAP	+0.0194%	8h	163.46	+0.018%	$20.8M	$99.9M	50x	as long as short
edgeX MSTRUSDC	+0.0253%	4h	163.31	−0.075%	$46K	$5.4M	10x	as long as short
Binance MSTRUSDT	+0.0266%	8h	163.53	+0.061%	$84.2M	$623.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0277%	8h	163.49	+0.037%	$85K	$849K	10x	as long as short
Phoenix MSTR	+0.0357%	1h	163.49	+0.038%	$56K	$223K	10x	as long as short
Nado MSTR-PERPshort	+0.0382%	1h	163.32	−0.065%	$130K	$157K	3x
BloFin MSTR-USDT	+0.0384%	8h	163.34	−0.055%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0417%	8h	163.53	+0.061%	$17.1M	$41.7M	50x	as long as short
RISEx MSTR/USDC	+0.0493%	1h	163.56	+0.080%	$266K	$425K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0552%	1h	163.55	+0.073%	$54.1M	$37.8M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1160%	1h	163.40	−0.018%	$278K	$437K	10x	as long as short