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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0467%/8h= −51.1% APRpaid last 24h −0.030%
Price spread now: Nado against Bybit−0.171%7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$460.458% of the position
Long on BybitShort on Nado
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.191%−$19 on $10k
Price spread, last 4 days (all we have)+0.765%+$76 · spread now −0.171%, 7d avg −0.030%
Together, before fees+0.574%+ Points / potential airdropNado: Active · farm board+$57 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Nado is 0.141% cheaper against Bybit than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.030%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit MSTRUSDT163.590.0618pay 0.0618% / 8h7h 48m$17.2M$41.3M50x
ShortNado MSTR-PERP163.310.0151get 0.0019% / 1h48m 22s$125K$165K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado 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

Funding earned
−$97.98
Price spread: −0.171% → −0.030%
−$14.07
Slippage, 4 orders
−$27.83
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$157.88
Costs to cover
0.458%
Break-even
never at this rate
Slippage from Bybit: live order book, 5 min ago; Nado: live order book, 49 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 Bybit live order book, 5 min ago0.92 bp9.6 bp −$1016.7 bp −$167151.2 bp −$15.1Kdoesn't fit
Sell Nado live order book, 49 min ago4.90 bp16.3 bp −$1669.9 bp −$699doesn'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−0.0238%8h163.66+0.043%$30.1M$118.5M25xas long as short
Phemex MSTRUSDT0.0000%4h163.58−0.006%$2.8M$85K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.31−0.170%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.515%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.64+0.031%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.47−0.073%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.35−0.147%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.53−0.037%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.77+0.110%$892K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.48−0.067%$1.3M$7.1M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter MSTR+0.0072%1h163.47−0.073%$3.5M$1.7M10xas long as short
Gate MSTR_USDT+0.0084%8h163.67+0.049%$4.7M$18.4M50xas long as short
Pacifica MSTR+0.0100%1h163.48−0.070%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.52−0.043%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.46−0.079%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.64+0.031%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.57−0.014%$136—10xas long as short
Aster MSTRUSDT+0.0117%8h163.60+0.009%$1.8M$8.7M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.593%$1.4M$1.1M10xas long as short
Nado MSTR-PERPshort+0.0151%1h163.31−0.171%$125K$165K3x
Paradex MSTR-USD-PERP+0.0153%8h163.52−0.044%$65—5xas long as short
Variational Omni MSTR+0.0218%8h163.95+0.219%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0224%8h163.62+0.018%$20.9M$99.4M50xas long as short
Binance MSTRUSDT+0.0310%8h163.61+0.009%$84.3M$619.0M50xas long as short
RISEx MSTR/USDC+0.0400%1h163.53−0.036%$269K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0408%1h163.590.000%$53.9M$37.5M10xas long as short
BloFin MSTR-USDT+0.0426%8h163.60+0.006%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.66+0.045%$56K$223K10xas long as short
Bybit MSTRUSDTlong+0.0618%8h163.59long leg$17.2M$41.3M50x
edgeX MSTRUSDC+0.0834%4h163.62+0.018%$47K$5.4M10xas long as short
GRVT MSTR_USDT_Perp+0.0900%8h163.72+0.080%$80K$838K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1097%1h163.50−0.055%$278K$432K10xas long as short