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 −0.002%

Price spread now: Variational Omni against Bybit−0.112%7-day average +0.021% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.099%−$10 on $10k

Price spread, last 7 days+0.118%+$12 · spread now −0.112%, 7d avg +0.021%

Together, before fees+0.019%+ Points / potential airdropVariational Omni: Active · farm board+$2 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 Variational Omni is 0.133% cheaper against Bybit than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	164.79	0.0349	pay 0.0349% / 8h	3h 59m	$17.0M	$40.8M	50x
Short	Variational Omni MSTR	164.61	0.0097	get 0.0097% / 8h	3h 59m	$1.2M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.112%Rate

Funding earned: −$52.81
Price spread: −0.112% → +0.021%: −$13.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$77.11
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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, 4 min ago	1.22 bp	9.4 bp −$9	13.2 bp −$132	119.1 bp −$11.9K	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.98 bp	doesn't fit	11.9 bp −$119	doesn't fit	doesn't fit

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
Bitget MSTRUSDT	−0.0919%	8h	164.86	+0.042%	$27.9M	$115.2M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.61	−0.110%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.90	+0.067%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.72	−0.042%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0024%	8h	164.77	−0.012%	$20.7M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.67	−0.073%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.62	−0.103%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.761%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.67	−0.073%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.65	−0.085%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.68	−0.067%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.72	−0.042%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.51	−0.170%	$859K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.73	−0.036%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTRshort	+0.0097%	8h	164.61	−0.112%	$1.2M	$2.1M	—
Pacifica MSTR	+0.0100%	1h	164.71	−0.048%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.64	−0.091%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.39	−0.243%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.72	−0.042%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.74	−0.031%	$137	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0120%	1h	164.68	−0.067%	$54.9M	$37.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0144%	8h	164.72	−0.040%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0157%	8h	164.76	−0.018%	$87.0M	$615.7M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.407%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.57	−0.134%	$82K	$792K	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.55	−0.148%	$56K	$226K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.77	−0.013%	$267K	$445K	10x	as long as short
BloFin MSTR-USDT	+0.0273%	8h	164.67	−0.073%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0317%	1h	164.57	−0.136%	$122K	$148K	3x	as long as short
Bybit MSTRUSDTlong	+0.0349%	8h	164.79	long leg	$17.0M	$40.8M	50x
edgeX MSTRUSDC	+0.0952%	4h	164.58	−0.128%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1209%	1h	164.78	−0.006%	$280K	$438K	10x	as long as short