MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0207%/8h= −22.7% APRnext payment −$0.26 per $10,000 · paid last 24h −0.019%

Price spread now: Lighter against Nado+0.039%7-day average −0.024% · 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−$49as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Nado Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.124%+$12 on $10k

Price spread, last 4 days (all we have)−0.232%−$23 · spread now +0.039%, 7d avg −0.024%

Together, before fees−0.108%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.064% dearer against Nado than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.024%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 25 hours. Mind the row above: over the last 3 days funding on this pair paid +0.124%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSTR-PERP	162.75	0.0335	pay 0.0042% / 1h	42m 11s	$130K	$157K	3x
Short	Lighter MSTR	162.81	0.0128	get 0.0016% / 1h	42m 11s	$3.5M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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 NadobpFee LighterbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$43.57
Price spread: +0.039% → −0.024%: $6.38
Slippage, 4 orders: −$48.73
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$92.92
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Nado: live order book, just now; Lighter: live order book, 5 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 Nado live order book, just now	7.06 bp	24.9 bp −$25	81.3 bp −$813	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.61 bp	1.6 bp −$2	6.7 bp −$67	34.3 bp −$3,433	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	−0.0898%	8h	163.02	+0.168%	$28.7M	$119.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.91	+0.101%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.32	+0.353%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0025%	8h	162.90	+0.094%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.62	−0.080%	$501K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.052%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.03	+0.175%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.47	−0.169%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.72	−0.016%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.85	+0.064%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.77	+0.015%	$841K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.74	−0.004%	$1.3M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.78	+0.020%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.82	+0.046%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.84	+0.058%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.84	+0.058%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.85	+0.065%	$135	—	10x	as long as short
Lighter MSTRshort	+0.0128%	1h	162.81	+0.039%	$3.5M	$2.0M	10x
OKX MSTR-USDT-SWAP	+0.0134%	8h	162.83	+0.052%	$20.7M	$100.3M	50x	as long as short
Variational Omni MSTR	+0.0147%	8h	162.88	+0.080%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0150%	8h	162.74	−0.004%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.753%	$1.4M	$1.1M	10x	as long as short
edgeX MSTRUSDC	+0.0172%	4h	162.89	+0.090%	$46K	$5.4M	10x	as long as short
Binance MSTRUSDT	+0.0225%	8h	162.83	+0.052%	$83.7M	$628.5M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0232%	8h	163.04	+0.180%	$79K	$876K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0234%	1h	162.70	−0.028%	$53.9M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.99	+0.148%	$55K	$223K	10x	as long as short
Nado MSTR-PERPlong	+0.0335%	1h	162.75	long leg	$130K	$157K	3x
BloFin MSTR-USDT	+0.0344%	8h	162.97	+0.138%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.86	+0.070%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.82	+0.043%	$262K	$437K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0795%	1h	162.86	+0.070%	$277K	$437K	10x	as long as short