Settings8H · net · $10k
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Funding arb · Price arb /

MSTR

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Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0484%/8h= +53.1% APRnext payment +$0.61 per $10,000 · paid last 24h +0.178%
Price spread now: Deribit against Coinbase International+0.836%7-day average +0.140% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$29as in the Price arb table
costs, in and out, $10k−$410.406% of the position
Long on Coinbase InternationalShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)+0.461%+$46 on $10k
Price spread, last 4 days (all we have)−0.787%−$79 · spread now +0.836%, 7d avg +0.140%
Together, before fees−0.325%−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Deribit is 0.697% dearer against Coinbase International than usual: you sell high and buy low: +$70 more if the spread goes back to its 7-day average of +0.140%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International MSTR-PERP-INTX162.620.0120pay 0.0015% / 1h56m 33s$1.4M$1.1M10x
ShortDeribit MSTR_USDC-PERPETUAL163.980.0604get 0.0076% / 1h56m 33s$279K$437K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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
$101.74
Price spread: +0.836% → +0.140%
$69.67
Slippage, 4 orders
−$23.56
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$130.85
Costs to cover
0.406%
Break-even
from the start
Slippage from Coinbase International: live order book, 2 min ago; Deribit: 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 Coinbase International live order book, 2 min ago3.97 bp10.5 bp −$1118.3 bp −$183doesn't fitdoesn't fit
Sell Deribit live order book, 42 min ago6.72 bp10.8 bp −$1111.9 bp −$119doesn'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−0.0343%8h163.85+0.756%$29.8M$118.9M25xas long as short
Gate MSTR_USDT0.0000%8h163.83+0.744%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.88+0.775%$2.8M$85K10xas long as short
Lighter MSTR+0.0032%1h163.82+0.738%$3.5M$1.7M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.69+0.657%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+4.132%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.81+0.732%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.86+0.763%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.81+0.732%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.72+0.676%$898K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0061%1h163.75+0.695%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0089%8h163.74+0.690%$1.8M$8.7M50xas long as short
Nado MSTR-PERP+0.0093%1h163.70+0.663%$125K$165K3xas long as short
Pacifica MSTR+0.0100%1h163.76+0.699%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.70+0.664%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.45+0.510%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.93+0.806%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.89+0.781%$136—10xas long as short
Coinbase International MSTR-PERP-INTXlong+0.0120%1h162.62long leg$1.4M$1.1M10x
Paradex MSTR-USD-PERP+0.0129%8h163.76+0.700%$66—5xas long as short
Variational Omni MSTR+0.0202%8h163.25+0.389%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0211%8h163.71+0.670%$20.9M$99.8M50xas long as short
tradeXYZ xyz:MSTR+0.0264%1h163.88+0.775%$54.2M$37.7M10xas long as short
Binance MSTRUSDT+0.0283%8h163.73+0.683%$84.3M$619.7M50xas long as short
Phoenix MSTR+0.0357%1h163.79+0.718%$56K$223K10xas long as short
Bybit MSTRUSDT+0.0382%8h163.78+0.713%$17.1M$41.4M50xas long as short
BloFin MSTR-USDT+0.0398%8h163.94+0.812%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0400%1h163.75+0.695%$269K$417K10xas long as short
GRVT MSTR_USDT_Perp+0.0485%8h163.68+0.652%$80K$858K10xas long as short
SoDEX MSTR-USD+0.0552%1h163.90+0.787%$43K$3K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0604%1h163.98+0.836%$279K$437K10x
edgeX MSTRUSDC+0.0936%4h163.43+0.499%$47K$5.3M10xas long as short