MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0313%/8h= −34.3% APRnext payment −$3.13 per $10,000 · paid last 24h −0.039%

Price spread now: OKX against BloFin+0.054%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.054%, 7d avg −0.001%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.056% dearer against BloFin than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.001%): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.207% in total) that is about 45 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.207% in total (about -10.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.13 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSTR-USDT	165.98	0.0574	pay 0.0574% / 8h	5h 08m	$1.1M	$2.0M	20x
Short	OKX MSTR-USDT-SWAP	166.07	0.0261	get 0.0261% / 8h	5h 08m	$21.8M	$80.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BloFin. 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 BloFinbpFee OKXbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$65.74
Price spread: +0.054% → −0.001%: $5.57
Slippage, 4 orders: −$9.29
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$91.47
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; OKX: live order book, 3 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 BloFin live order book, 2 min ago	1.21 bp	8.2 bp −$8	10.1 bp −$101	23.7 bp −$2,365	doesn't fit
Sell OKX live order book, 3 min ago	0.30 bp	6.7 bp −$7	11.2 bp −$112	58.3 bp −$5,826	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.458%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.09	+0.066%	$4.9M	$17.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.09	+0.066%	$32.3M	$103.2M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.97	−0.006%	$2.8M	$83K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.99	+0.006%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.91	−0.042%	$535K	$1.9M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.94	−0.024%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	165.89	−0.054%	$1.3M	$5.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.84	−0.084%	$391K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.90	−0.048%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.65	−0.199%	$858K	$3.2M	10x	as long as short
Nado MSTR-PERP	+0.0067%	1h	165.76	−0.131%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.58	−0.241%	$1.4M	$356K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	165.82	−0.097%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.78	−0.124%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.87	−0.066%	$2.3M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.76	−0.133%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.87	−0.066%	$2K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.90	−0.046%	$138	—	10x	as long as short
Bybit MSTRUSDT	+0.0169%	8h	166.08	+0.060%	$16.6M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0222%	1h	165.97	−0.006%	$54.8M	$33.5M	10x	as long as short
Aster MSTRUSDT	+0.0257%	8h	165.97	−0.005%	$1.8M	$6.3M	50x	as long as short
OKX MSTR-USDT-SWAPshort	+0.0261%	8h	166.07	+0.054%	$21.8M	$80.5M	50x
Phoenix MSTR	+0.0322%	1h	165.87	−0.069%	$55K	$213K	10x	as long as short
Variational Omni MSTR	+0.0351%	8h	165.80	−0.106%	$1.2M	$1.6M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	165.94	−0.024%	$274K	$348K	10x	as long as short
Binance MSTRUSDT	+0.0436%	8h	166.04	+0.036%	$87.1M	$519.9M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0447%	8h	165.85	−0.079%	$85K	$922K	10x	as long as short
edgeX MSTRUSDC	+0.0544%	4h	165.84	−0.081%	$49K	$4.6M	10x	as long as short
BloFin MSTR-USDTlong	+0.0574%	8h	165.98	long leg	$1.1M	$2.0M	20x
Deribit MSTR_USDC-PERPETUAL	+0.0654%	1h	165.99	+0.006%	$282K	$184K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	165.95	−0.018%	$26K	$63K	10x	as long as short