MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0199%/8h= +21.8% APRnext payment +$0.25 per $10,000 · paid last 24h −0.046%

Price spread now: tradeXYZ against Arcus−0.109%52s7-day average −0.056% · 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—prices read too far apart to compare

costs, in and out, $10k−$440.443% of the position

Long on Arcus Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.109%, 7d avg −0.056%

Together, before fees+0.065%+ Points / potential airdroptradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.053% cheaper against Arcus than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of −0.056%). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$6 a day). At the pace of the last 4 days (+0.018% in total) that is about 11 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.018% in total (about 1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	164.73	0.0040	pay 0.0005% / 1h	39m 45s	$26K	$109K	10x
Short	tradeXYZ xyz:MSTR	164.55	0.0240	get 0.0030% / 1h	39m 45s	$54.9M	$36.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.109%Rate

Funding earned: $41.85
Price spread: −0.109% → −0.056%: −$5.33
Slippage, 4 orders: −$21.81
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$7.79
Costs to cover: 0.443%
Break-even: 8.3 days

Slippage from Arcus: live order book, 18 min ago; tradeXYZ: live order book, 10 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, 18 min ago	7.57 bp	11.1 bp −$11	44.9 bp −$449	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.91 bp	10.3 bp −$10	12.5 bp −$125	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	−0.0860%	8h	164.72	−0.006%	$27.7M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0045%	8h	164.69	−0.024%	$4.6M	$18.5M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.57	−0.098%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.64	−0.055%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	164.45	−0.170%	$20.6M	$99.6M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.54	−0.115%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.43	−0.182%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.799%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.81	+0.052%	$267K	$449K	10x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	164.73	long leg	$26K	$109K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.66	−0.042%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.69	−0.024%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.58	−0.091%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.52	−0.127%	$866K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.81	+0.049%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0069%	8h	164.72	−0.003%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.78	+0.031%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.49	−0.146%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	−0.103%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.63	−0.061%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.64	−0.053%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0129%	8h	164.56	−0.103%	$87.9M	$617.8M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0144%	8h	164.76	+0.016%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0162%	8h	164.73	0.000%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.77	+0.024%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.59	−0.088%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTRshort	+0.0240%	1h	164.55	−0.109%	$54.9M	$36.9M	10x
BloFin MSTR-USDT	+0.0247%	8h	164.78	+0.030%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0271%	1h	164.69	−0.027%	$122K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0372%	8h	164.57	−0.097%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0662%	1h	164.68	−0.030%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0951%	4h	164.67	−0.039%	$49K	$5.3M	10x	as long as short