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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 05:00 UTC−0.0212%/8h= −23.3% APRpaid last 24h −0.012%
Price spread now: Pacifica against Bybit−0.052%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as 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 Pacifica
What this pair did over the last
the charts below follow
Funding, last 7 days+0.010%+$1 on $10k
Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.052%, 7d avg −0.024%
Together, before fees−0.018%+ Points / potential airdropPacifica: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Pacifica is 0.027% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.024%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.010% in total (about 0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit MSTRUSDT163.740.0312pay 0.0312% / 8h3h 10m$16.6M$41.2M50x
ShortPacifica MSTR163.660.0100get 0.0013% / 1h10m 39s$100K$83K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica 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
−$44.59
Price spread: −0.052% → −0.024%
−$2.72
Slippage, 4 orders
−$13.57
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$79.88
Costs to cover
0.326%
Break-even
never at this rate
Slippage from Bybit: live order book, 3 min ago; Pacifica: live order book, 42 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, 3 min ago0.92 bp9.1 bp −$912.6 bp −$126130.4 bp −$13.0Kdoesn't fit
Sell Pacifica live order book, 42 min ago0.03 bp10.0 bp −$10doesn't fitdoesn'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−0.0961%8h163.85+0.067%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.64−0.062%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.77+0.018%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.84+0.061%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.70−0.024%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.56−0.113%$588K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.420%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.89+0.092%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0042%8h163.72−0.012%$20.7M$98.9M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.51−0.140%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.64−0.061%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.72−0.012%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.51−0.140%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.66−0.049%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0068%8h163.70−0.027%$65—5xas long as short
Variational Omni MSTR+0.0091%8h163.69−0.028%$1.2M$2.1M—as long as short
Pacifica MSTRshort+0.0100%1h163.66−0.052%$100K$83K10x
KuCoin MSTRUSDTM+0.0100%8h163.63−0.067%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.77+0.018%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.65−0.055%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.65−0.054%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0151%8h163.84+0.062%$83K$837K10xas long as short
Binance MSTRUSDT+0.0155%8h163.71−0.018%$85.9M$618.9M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.84+0.061%$1.4M$1.1M10xas long as short
edgeX MSTRUSDC+0.0190%4h163.81+0.040%$48K$5.3M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.69−0.029%$265K$445K10xas long as short
Nado MSTR-PERP+0.0242%1h163.67−0.044%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0252%1h163.69−0.031%$54.5M$37.1M10xas long as short
BloFin MSTR-USDT+0.0275%8h163.78+0.024%$1.0M$2.1M20xas long as short
Bybit MSTRUSDTlong+0.0312%8h163.74long leg$16.6M$41.2M50x
Phoenix MSTR+0.0340%1h163.98+0.147%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0545%1h163.72−0.012%$278K$438K10xas long as short