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Funding arb · Price arb /

MSTR

RWAall MSTR markets
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Alert: funding
Measured
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Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC−0.0325%/8h= −35.6% APRpaid last 24h −0.042%
Price spread now: Phemex against Bybit+0.110%7-day average +0.014% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.281%−$28 on $10k
Price spread, last 4 days (all we have)−0.145%−$14 · spread now +0.110%, 7d avg +0.014%
Together, before fees−0.426%−$43 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.096% dearer against Bybit than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.014%): +$10 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.281% in total) that is about 2.4 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit MSTRUSDT163.820.0325pay 0.0325% / 8h2h 53m$16.7M$41.2M50x
ShortPhemex MSTRUSDT164.000get 0.0000% / 4h2h 53m$2.8M$77K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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
−$68.22
Price spread: +0.110% → +0.014%
$9.61
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$81.61
Costs to cover
0.230%
Break-even
never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Phemex: live order book, 5 min ago. Net counts fees only.

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 ago1.83 bp9.6 bp −$1012.7 bp −$127129.7 bp −$13.0Kdoesn't fit
Sell Phemex live order book, 5 min ago1.22 bpdoesn't fitdoesn'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−0.0988%8h163.93+0.067%$27.1M$116.9M25xas long as short
Aster MSTRUSDT0.0000%8h163.70−0.073%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.83+0.006%$4.6M$19.1M50xas long as short
Phemex MSTRUSDTshort0.0000%4h164.00+0.110%$2.8M$77K10x
edgeX MSTRUSDC+0.0003%4h163.64−0.110%$48K$5.4M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.56−0.156%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.370%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.73−0.055%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.36−0.281%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.63−0.116%$379K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0050%1h163.67−0.092%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.65−0.104%$817K$3.9M10xas long as short
QFEX MSTR-USD+0.0054%1h163.63−0.116%$1.4M$7.2M10xas long as short
OKX MSTR-USDT-SWAP+0.0055%8h163.79−0.018%$20.7M$99.2M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.70−0.073%$265K$446K10xas long as short
Paradex MSTR-USD-PERP+0.0094%8h163.64−0.107%$65—5xas long as short
Variational Omni MSTR+0.0094%8h163.78−0.024%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.67−0.090%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.64−0.110%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.61−0.128%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.70−0.073%$4K$8K10xas long as short
Lighter MSTR+0.0104%1h163.65−0.104%$3.5M$1.9M10xas long as short
Aevo MSTR-PERP+0.0104%1h163.72−0.061%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0153%8h163.820.000%$83K$824K10xas long as short
Binance MSTRUSDT+0.0162%8h163.79−0.018%$85.9M$619.5M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.153%$1.4M$1.1M10xas long as short
BloFin MSTR-USDT+0.0282%8h163.70−0.073%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0304%1h163.48−0.205%$121K$148K3xas long as short
Bybit MSTRUSDTlong+0.0325%8h163.82long leg$16.7M$41.2M50x
tradeXYZ xyz:MSTR+0.0329%1h163.74−0.049%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.078%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1156%1h163.76−0.037%$278K$438K10xas long as short