MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0015%/8h= +1.7% APRnext payment +$0.15 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against Binance0.000%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

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

costs, in and out, $10k−$310.307% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 2 days (all we have)+0.031%+$3 · spread now 0.000%, 7d avg −0.001%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	169.44	0.0048	pay 0.0048% / 8h	3m 39s	$89.4M	$628.6M	50x
Short	Bybit MSTRUSDT	169.44	0.0063	get 0.0063% / 8h	3m 39s	$15.2M	$40.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $3.19
Price spread: 0.000% → −0.001%: $0.12
Slippage, 4 orders: −$9.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.4
Costs to cover: 0.307%
Break-even: 67.2 days

Slippage from Binance: live order book, 10 min ago; Bybit: 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 Binance live order book, 10 min ago	0.30 bp	5.7 bp −$6	8.3 bp −$83	26.2 bp −$2,623	118.1 bp −$59.1K
Sell Bybit live order book, 5 min ago	0.89 bp	9.1 bp −$9	13.7 bp −$137	126.8 bp −$12.7K	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	−0.0045%	1h	169.14	−0.178%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.14	−0.180%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.40	−0.024%	$21.9M	$106.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.35	−0.053%	$4.7M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.00	−0.258%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.20	−0.142%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.44	−0.003%	$276K	$441K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0028%	8h	169.01	−0.255%	$77K	$871K	10x	as long as short
Bitget MSTRUSDT	+0.0030%	8h	169.43	−0.006%	$28.8M	$119.8M	25x	as long as short
Lighter MSTR	+0.0032%	1h	169.37	−0.041%	$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	169.26	−0.104%	$581K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.33	−0.065%	—	$2.1M	25x	as long as short
Binance MSTRUSDTlong	+0.0048%	8h	169.44	long leg	$89.4M	$628.6M	50x
QFEX MSTR-USD	+0.0049%	1h	169.25	−0.112%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.26	−0.106%	$399K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.28	−0.094%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.91	−0.313%	$773K	$5.2M	10x	as long as short
Bybit MSTRUSDTshort	+0.0063%	8h	169.44	0.000%	$15.2M	$40.3M	50x
BloFin MSTR-USDT	+0.0067%	8h	169.08	−0.212%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.407%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0096%	8h	169.35	−0.054%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.37	−0.041%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.23	−0.124%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.96	−0.283%	$4K	$253K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.23	−0.124%	$3K	$10K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	−0.331%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.24	−0.119%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0128%	1h	169.31	−0.077%	$57.2M	$36.9M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.09	−0.209%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0382%	4h	169.04	−0.233%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.45	+0.006%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0932%	1h	169.44	0.000%	$288K	$438K	10x	as long as short