MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0251%/8h= −27.5% APRnext payment −$2.51 per $10,000 · paid last 24h +0.040%

Price spread now: BloFin against Bybit+0.030%62s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.341% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 3 days (all we have)−0.055%−$5 · spread now +0.030%, 7d avg +0.006%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.024% dearer against Bybit than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of +0.006%): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.183%, so the current rate has only just turned against you. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	166.74	0.0237	pay 0.0237% / 8h	7h 06m	$15.9M	$39.5M	50x
Short	BloFin MSTR-USDT	166.79	−0.0014	pay 0.0014% / 8h	7h 06m	$1.1M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$52.66
Price spread: +0.030% → +0.006%: $2.39
Slippage, 4 orders: −$11.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$84.42
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; BloFin: 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, 3 min ago	0.30 bp	8.2 bp −$8	15.0 bp −$150	131.2 bp −$13.1K	doesn't fit
Sell BloFin live order book, 2 min ago	0.60 bp	7.8 bp −$8	10.3 bp −$103	17.1 bp −$1,711	58.4 bp −$29.2K

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	−0.0188%	8h	166.79	+0.030%	$4.7M	$19.2M	50x	as long as short
BloFin MSTR-USDTshort	−0.0014%	8h	166.79	+0.030%	$1.1M	$1.9M	20x
Aster MSTRUSDT	0.0000%	8h	166.79	+0.029%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.71	−0.015%	$87.6M	$614.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.75	+0.006%	$21.5M	$99.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.81	+0.042%	$27.7M	$113.8M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	166.78	+0.026%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	167.28	+0.327%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.16	+0.252%	$2.8M	$67K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.60	−0.084%	$3.5M	$2.0M	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	166.51	−0.138%	$575K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.71	−0.018%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.16	+0.252%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.56	−0.108%	—	$1.7M	25x	as long as short
Nado MSTR-PERP	+0.0047%	1h	166.64	−0.059%	$135K	$128K	3x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.62	−0.072%	$391K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.68	−0.036%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.72	−0.012%	$773K	$4.8M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	166.74	0.000%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.76	+0.012%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.73	−0.006%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.13	+0.234%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.80	+0.036%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.74	−0.003%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0106%	8h	166.70	−0.026%	$67	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.559%	$8K	$26K	30x	as long as short
Bybit MSTRUSDTlong	+0.0237%	8h	166.74	long leg	$15.9M	$39.5M	50x
tradeXYZ xyz:MSTR	+0.0237%	1h	166.72	−0.012%	$56.4M	$35.8M	10x	as long as short
Phoenix MSTR	+0.0259%	1h	167.42	+0.408%	$56K	$384K	10x	as long as short
edgeX MSTRUSDC	+0.0265%	4h	167.38	+0.385%	$43K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.77	+0.016%	$272K	$433K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0591%	1h	166.69	−0.030%	$283K	$438K	10x	as long as short