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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0690%/8h= +75.6% APRpaid last 24h +0.156%
Price spread now: Deribit against Binance+0.049%7-day average +0.039% · 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−$33as in the Price arb table
costs, in and out, $10k−$340.342% of the position
Long on BinanceShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)+0.575%+$57 on $10k
Price spread, last 4 days (all we have)+0.107%+$11 · spread now +0.049%, 7d avg +0.039%
Together, before fees+0.682%+$68 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$21 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance MSTRUSDT163.700.0160pay 0.0160% / 8h2h 55m$85.9M$619.4M50x
ShortDeribit MSTR_USDC-PERPETUAL163.780.0850get 0.0106% / 1h55m 48s$279K$438K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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

Funding earned
$144.99
Price spread: +0.049% → +0.039%
$1.03
Slippage, 4 orders
−$17.16
Fee Binance: 5 bp × 2 orders
−$10
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$111.86
Costs to cover
0.342%
Break-even
1.6 days
Slippage from Binance: live order book, 3 min ago; Deribit: live order book, 58 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 3 min ago0.31 bp5.9 bp −$69.4 bp −$9427.5 bp −$2,749doesn't fit
Sell Deribit live order book, 58 min ago5.77 bp12.3 bp −$1213.5 bp −$135doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0987%8h163.86+0.098%$27.1M$116.9M25xas long as short
Aster MSTRUSDT0.0000%8h163.71+0.009%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.77+0.043%$4.6M$19.1M50xas long as short
Phemex MSTRUSDT0.0000%4h164.00+0.183%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.58−0.073%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.445%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.74+0.024%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.43−0.165%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.64−0.037%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.72+0.012%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX MSTR-USDT-SWAP+0.0050%8h163.72+0.012%$20.7M$99.1M50xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.65−0.031%$817K$3.9M10xas long as short
QFEX MSTR-USD+0.0054%1h163.68−0.012%$1.4M$7.2M10xas long as short
Lighter MSTR+0.0056%1h163.69−0.006%$3.5M$1.9M10xas long as short
Paradex MSTR-USD-PERP+0.0085%8h163.70−0.001%$65—5xas long as short
RISEx MSTR/USDC+0.0088%1h163.74+0.021%$266K$446K10xas long as short
Variational Omni MSTR+0.0094%8h163.78+0.050%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.71+0.007%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.63−0.043%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.44−0.159%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.73+0.018%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.75+0.029%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0148%8h163.74+0.023%$83K$824K10xas long as short
Binance MSTRUSDTlong+0.0160%8h163.70long leg$85.9M$619.4M50x
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.079%$1.4M$1.1M10xas long as short
edgeX MSTRUSDC+0.0248%4h163.64−0.038%$48K$5.4M10xas long as short
BloFin MSTR-USDT+0.0278%8h163.79+0.055%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0288%1h163.61−0.052%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0290%1h163.66−0.024%$54.5M$37.1M10xas long as short
Bybit MSTRUSDT+0.0318%8h163.79+0.055%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.63−0.045%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0850%1h163.78+0.049%$279K$438K10x