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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0265%/8h= −29.0% APRnext payment −$2.65 per $10,000 · paid last 24h +0.008%
Price spread now: OKX against Bybit−0.018%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$330.326% of the position
Long on BybitShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.014%−$1 on $10k
Price spread, last 7 days+0.052%+$5 · spread now −0.018%, 7d avg +0.004%
Together, before fees+0.038%+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.022% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.004%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.65 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit MSTRUSDT163.680.0380pay 0.0380% / 8h2h 12m$16.8M$41.9M50x
ShortOKX MSTR-USDT-SWAP163.650.0114get 0.0114% / 8h2h 12m$20.7M$100.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX 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
−$55.69
Price spread: −0.018% → +0.004%
−$2.22
Slippage, 4 orders
−$11.63
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee OKX: 5 bp × 2 orders
−$10
Net
−$90.53
Costs to cover
0.326%
Break-even
never at this rate
Slippage from Bybit: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago0.31 bp8.6 bp −$914.5 bp −$145124.8 bp −$12.5Kdoesn't fit
Sell OKX live order book, 1 min ago0.31 bp5.8 bp −$610.8 bp −$10868.5 bp −$6,847doesn'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−0.1237%8h163.84+0.098%$28.0M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.64−0.024%$4.7M$19.8M50xas long as short
Phemex MSTRUSDT0.0000%4h163.47−0.128%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0006%8h163.29−0.238%$1.8M$8.7M50xas long as short
Vest MSTR-USD-PERP+0.0021%1h163.34−0.208%—$1.8M25xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.45−0.141%$500K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.458%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.21−0.287%$26K$109K10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.57−0.067%$377K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h162.93−0.458%$870K$3.9M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0054%1h163.58−0.061%$1.3M$7.3M10xas long as short
RISEx MSTR/USDC+0.0088%1h163.63−0.028%$263K$444K10xas long as short
Pacifica MSTR+0.0100%1h163.54−0.088%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.32−0.220%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.99−0.422%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.33−0.214%$4K$9K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.32−0.222%$136—10xas long as short
OKX MSTR-USDT-SWAPshort+0.0114%8h163.65−0.018%$20.7M$100.8M50x
Variational Omni MSTR+0.0132%8h162.96−0.441%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0147%8h163.52−0.100%$65—5xas long as short
Lighter MSTR+0.0152%1h163.51−0.104%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h161.52−1.320%$1.4M$1.1M10xas long as short
SoDEX MSTR-USD+0.0174%1h163.35−0.202%$43K$3K10xas long as short
Binance MSTRUSDT+0.0214%8h163.64−0.024%$84.0M$628.5M50xas long as short
GRVT MSTR_USDT_Perp+0.0220%8h163.14−0.330%$79K$857K10xas long as short
tradeXYZ xyz:MSTR+0.0282%1h163.45−0.141%$54.3M$37.3M10xas long as short
BloFin MSTR-USDT+0.0329%8h163.38−0.183%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0340%1h163.49−0.118%$131K$157K3xas long as short
Phoenix MSTR+0.0362%1h163.21−0.287%$55K$226K10xas long as short
Bybit MSTRUSDTlong+0.0380%8h163.68long leg$16.8M$41.9M50x
edgeX MSTRUSDC+0.0460%4h163.05−0.384%$45K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0914%1h163.45−0.141%$278K$438K10xas long as short