MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0106%/8h= −11.6% APRnext payment −$1.06 per $10,000 · paid last 24h +0.005%

Price spread now: Aster against Bybit−0.040%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.040%, 7d avg −0.013%

Together, before fees−0.084%+ Points / potential airdropAster: Stage 5 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.026% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	168.03	0.0106	pay 0.0106% / 8h	7h 16m	$16.0M	$39.5M	50x
Short	Aster MSTRUSDT	167.96	0	get 0.0000% / 8h	7h 16m	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$22.2
Price spread: −0.040% → −0.013%: −$2.64
Slippage, 4 orders: −$6.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$50.82
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Aster: 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 Bybit live order book, 2 min ago	0.30 bp	6.7 bp −$7	8.7 bp −$87	117.6 bp −$11.8K	doesn't fit
Sell Aster live order book, 2 min ago	1.49 bp	6.8 bp −$7	227.5 bp −$2,275	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
Gate MSTR_USDT	−0.0078%	8h	168.00	−0.018%	$4.7M	$19.0M	50x	as long as short
Nado MSTR-PERP	−0.0012%	1h	167.85	−0.104%	$128K	$103K	3x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	167.96	−0.040%	$1.2M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	167.98	−0.030%	$21.6M	$100.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.11	+0.048%	$28.0M	$113.3M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.34	+0.183%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.32	+0.171%	$85K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.96	−0.042%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0006%	8h	167.85	−0.107%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0009%	8h	168.00	−0.018%	$88.5M	$613.9M	50x	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	167.96	−0.042%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	167.89	−0.083%	$577K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.04	+0.006%	$1.4M	$8.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.22	+0.113%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.88	−0.089%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	167.97	−0.036%	$394K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	167.87	−0.095%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	167.80	−0.137%	$766K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.06	+0.018%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0097%	8h	168.00	−0.019%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.07	+0.021%	$104K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	167.96	−0.042%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.27	+0.143%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.91	−0.071%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	167.90	−0.077%	$139	—	10x	as long as short
Bybit MSTRUSDTlong	+0.0106%	8h	168.03	long leg	$16.0M	$39.5M	50x
tradeXYZ xyz:MSTR	+0.0219%	1h	167.93	−0.060%	$56.7M	$35.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.780%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.22	+0.113%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.05	+0.014%	$274K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0797%	4h	168.37	+0.200%	$46K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0943%	1h	167.87	−0.095%	$285K	$438K	10x	as long as short