MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Lighter−0.024%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Lighter Short on Polymarket Perps

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+0.105%+$11 · spread now −0.024%, 7d avg −0.004%

Together, before fees+0.161%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, 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	Lighter MSTR	169.98	0.0032	pay 0.0004% / 1h	31m 13s	$3.6M	$2.6M	10x
Short	Polymarket Perps MSTR-USD	169.94	0.0050	get 0.0006% / 1h	31m 13s	$410K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.024%Rate

Funding earned: $3.78
Price spread: −0.024% → −0.004%: −$1.92
Slippage, 4 orders: −$15.28
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.42
Costs to cover: 0.233%
Break-even: 46.7 days

Slippage from Lighter: live order book, 7 min ago; Polymarket Perps: 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 Lighter live order book, 7 min ago	0.59 bp	3.9 bp −$4	7.8 bp −$78	31.7 bp −$3,166	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	3.24 bp	9.1 bp −$9	12.7 bp −$127	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
Nado MSTR-PERP	−0.0035%	1h	169.92	−0.036%	$140K	$107K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	170.04	+0.035%	$295K	$474K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.96	−0.012%	$4.9M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.99	+0.006%	$2.9M	$53K	10x	as long as short
Variational Omni MSTR	+0.0013%	8h	169.83	−0.090%	$1.2M	$2.4M	—	as long as short
Lighter MSTRlong	+0.0032%	1h	169.98	long leg	$3.6M	$2.6M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	169.89	−0.054%	$584K	$1.9M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0041%	8h	170.03	+0.031%	$80K	$950K	10x	as long as short
QFEX MSTR-USD	+0.0044%	1h	170.00	+0.012%	$1.5M	$10.1M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	170.35	+0.218%	—	$2.0M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	170.00	+0.012%	$1.5M	$1.1M	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	169.94	−0.024%	$410K	$2.5M	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.79	−0.112%	$822K	$4.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0075%	8h	170.00	+0.014%	$68	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0078%	8h	170.01	+0.018%	$22.3M	$108.3M	50x	as long as short
SoDEX MSTR-USD	+0.0079%	1h	169.99	+0.006%	$45K	$3K	10x	as long as short
Aster MSTRUSDT	+0.0081%	8h	170.00	+0.009%	$1.3M	$6.2M	50x	as long as short
Phoenix MSTR	+0.0090%	1h	169.79	−0.113%	$57K	$389K	10x	as long as short
Binance MSTRUSDT	+0.0095%	8h	169.98	−0.003%	$89.3M	$625.2M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0099%	1h	169.93	−0.029%	$57.2M	$37.0M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.94	−0.021%	$104K	$153K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.87	−0.065%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.76	−0.129%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	170.01	+0.018%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	170.09	+0.065%	$141	—	10x	as long as short
BloFin MSTR-USDT	+0.0122%	8h	169.98	0.000%	$1.1M	$1.7M	20x	as long as short
Bitget MSTRUSDT	+0.0156%	8h	170.02	+0.024%	$29.0M	$118.4M	25x	as long as short
Injective MSTR/USDC PERP	+0.0171%	1h	169.97	−0.006%	$13K	$22K	30x	as long as short
Bybit MSTRUSDT	+0.0234%	8h	170.05	+0.041%	$15.6M	$42.2M	50x	as long as short
Arcus MSTR-USD	+0.0451%	1h	170.11	+0.076%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0456%	1h	170.02	+0.024%	$289K	$439K	10x	as long as short
edgeX MSTRUSDC	+0.0938%	4h	169.75	−0.137%	$50K	$5.4M	10x	as long as short