A quotient of the Lubin-Tate tower

Abstract: In this article we show that the quotient of the Lubin-Tate space at infinite level by the Borel subgroup of upper triangular matrices in GL(2,Q_p) exists as a perfectoid space. As an application we show that Scholze's functor H^i_et(P^1,F(pi)) is concentrated in degree one whenever pi is a principal series representation or a twist of the Steinberg representation of GL(2,Q_p).