MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0279%/8h= −30.6% APRnext payment −$0.35 per $10,000 · paid last 24h +0.105%

Price spread now: Deribit against Arcus+0.024%7-day average +0.019% · 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−$45as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.443%+$44 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.024%, 7d avg +0.019%

Together, before fees+0.464%+$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.443%, 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	Arcus MSTR-USD	169.50	0.0738	pay 0.0092% / 1h	1m 03s	$27K	$129K	10x
Short	Deribit MSTR_USDC-PERPETUAL	169.54	0.0458	get 0.0057% / 1h	1m 03s	$288K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$58.65
Price spread: +0.024% → +0.019%: $0.43
Slippage, 4 orders: −$34.01
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$103.73
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Arcus: live order book, 12 min ago; Deribit: live order book, 13 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 Arcus live order book, 12 min ago	6.51 bp	12.8 bp −$13	40.0 bp −$400	doesn't fit	doesn't fit
Sell Deribit live order book, 13 min ago	7.40 bp	11.5 bp −$11	14.6 bp −$146	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	−0.0044%	1h	169.41	−0.055%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.12	−0.224%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.53	+0.018%	$21.9M	$106.4M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.49	−0.006%	$4.7M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.44	−0.034%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.31	−0.112%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.46	−0.024%	$276K	$441K	10x	as long as short
Bitget MSTRUSDT	+0.0030%	8h	169.54	+0.024%	$28.8M	$119.8M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0030%	8h	169.13	−0.218%	$77K	$871K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.49	−0.006%	$3.6M	$2.4M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	169.37	−0.078%	$581K	$1.8M	10x	as long as short
BloFin MSTR-USDT	+0.0037%	8h	169.60	+0.059%	$1.1M	$1.9M	20x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.62	+0.071%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.43	−0.041%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.44	−0.035%	$400K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.51	+0.006%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.23	−0.159%	$764K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0055%	8h	169.52	+0.012%	$89.4M	$628.5M	50x	as long as short
Bybit MSTRUSDT	+0.0061%	8h	169.53	+0.018%	$15.2M	$40.3M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0095%	8h	169.45	−0.030%	$68	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.442%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.42	−0.048%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.32	−0.106%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.15	−0.206%	$4K	$224K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.34	−0.094%	$3K	$10K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	−0.366%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.34	−0.093%	$141	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0123%	1h	169.48	−0.012%	$57.2M	$36.9M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.45	−0.030%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0458%	1h	169.54	+0.024%	$288K	$438K	10x
edgeX MSTRUSDC	+0.0628%	4h	169.42	−0.047%	$48K	$5.5M	10x	as long as short
Arcus MSTR-USDlong	+0.0738%	1h	169.50	long leg	$27K	$129K	10x