MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0013%/8h= −1.5% APRnext payment −$0.13 per $10,000 · paid last 24h −0.035%

Price spread now: Bitget against Binance−0.004%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 2 days (all we have)+0.032%+$3 · spread now −0.004%, 7d avg +0.020%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bitget is 0.025% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	169.07	0.0043	pay 0.0043% / 8h	7m 12s	$89.2M	$628.9M	50x
Short	Bitget MSTRUSDT	169.06	0.0030	get 0.0030% / 8h	7m 12s	$28.7M	$119.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$2.81
Price spread: −0.004% → +0.020%: −$2.48
Slippage, 4 orders: −$6.31
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.6
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bitget: live order book, 2 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 Binance live order book, 7 min ago	0.30 bp	5.7 bp −$6	8.3 bp −$83	26.2 bp −$2,623	118.1 bp −$59.1K
Sell Bitget live order book, 2 min ago	0.30 bp	8.3 bp −$8	13.0 bp −$130	33.6 bp −$3,365	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	−0.0046%	1h	168.97	−0.056%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.96	−0.064%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.07	+0.002%	$21.9M	$106.2M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.98	−0.052%	$4.7M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.84	−0.134%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.05	−0.010%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.05	−0.010%	$275K	$441K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0028%	8h	169.01	−0.035%	$77K	$871K	10x	as long as short
Bitget MSTRUSDTshort	+0.0030%	8h	169.06	−0.004%	$28.7M	$119.9M	25x
BloFin MSTR-USDT	+0.0030%	8h	169.13	+0.037%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.02	−0.028%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.95	−0.070%	$581K	$1.8M	10x	as long as short
Binance MSTRUSDTlong	+0.0043%	8h	169.07	long leg	$89.2M	$628.9M	50x
Vest MSTR-USD-PERP	+0.0046%	1h	169.12	+0.031%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.04	−0.016%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.03	−0.022%	$397K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.05	−0.010%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.76	−0.182%	$772K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0062%	8h	169.10	+0.019%	$15.1M	$40.3M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.188%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0097%	8h	169.05	−0.012%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.00	−0.040%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.97	−0.058%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.93	−0.081%	$4K	$280K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.00	−0.040%	$3K	$10K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	−0.111%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.02	−0.025%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0128%	1h	169.00	−0.040%	$57.1M	$36.9M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.00	−0.037%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0400%	4h	168.97	−0.059%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0519%	1h	169.09	+0.013%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.09	+0.013%	$27K	$129K	10x	as long as short