MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1613%/8h= −176.6% APRnext payment −$16.13 per $10,000 · paid last 24h −0.007%

Price spread now: Bitget against Bybit+0.061%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.061%, 7d avg +0.011%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.050% dearer against Bybit than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.011%): +$5 on $10k if it goes back. Holding the pair costs −$48 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.101% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$16.13 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	164.23	0.0339	pay 0.0339% / 8h	5h 41m	$17.1M	$40.7M	50x
Short	Bitget MSTRUSDT	164.33	−0.1274	pay 0.1274% / 8h	5h 41m	$27.6M	$114.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$338.78
Price spread: +0.061% → +0.011%: $5.02
Slippage, 4 orders: −$11.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$368.38
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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 Bybit live order book, 2 min ago	0.30 bp	9.5 bp −$9	13.3 bp −$133	122.2 bp −$12.2K	doesn't fit
Sell Bitget live order book, 3 min ago	0.30 bp	8.2 bp −$8	11.8 bp −$118	39.3 bp −$3,926	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
Bitget MSTRUSDTshort	−0.1274%	8h	164.33	+0.061%	$27.6M	$114.5M	25x
Aster MSTRUSDT	0.0000%	8h	164.12	−0.064%	$1.7M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.17	−0.037%	$20.8M	$99.4M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.15	−0.049%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.46	+0.140%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0013%	8h	164.02	−0.130%	$1.2M	$2.0M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.05	−0.110%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.99	−0.149%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.111%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.33	+0.061%	$26K	$112K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.05	−0.110%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.41	+0.110%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.47	+0.146%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.99	−0.146%	$880K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.15	−0.049%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0081%	1h	164.03	−0.122%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0088%	8h	164.10	−0.080%	$88.0M	$619.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.11	−0.073%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.05	−0.110%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.32	+0.055%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.47	+0.146%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.47	+0.145%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.09	−0.085%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0157%	8h	164.40	+0.104%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.085%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0207%	8h	164.42	+0.116%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0216%	1h	164.08	−0.090%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.18	−0.033%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	163.85	−0.228%	$55K	$227K	10x	as long as short
Bybit MSTRUSDTlong	+0.0339%	8h	164.23	long leg	$17.1M	$40.7M	50x
edgeX MSTRUSDC	+0.0772%	4h	164.34	+0.070%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0784%	1h	164.51	+0.170%	$280K	$438K	10x	as long as short