MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h +0.015%

Price spread now: Extended against Coinbase International−0.006%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.006%, 7d avg −0.010%

Together, before fees−0.076%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	169.11	0.0048	pay 0.0006% / 1h	28m 12s	$1.5M	$1.2M	10x
Short	Extended MSTR_24_5-USD	169.10	0.0032	get 0.0004% / 1h	28m 12s	$588K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee ExtendedbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$3.36
Price spread: −0.006% → −0.010%: $0.36
Slippage, 4 orders: −$18.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$36.18
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Coinbase International: live order book, just now; Extended: live order book, 5 min ago.

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 Coinbase International live order book, just now	4.72 bp	10.9 bp −$11	17.7 bp −$177	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	2.66 bp	5.8 bp −$6	18.8 bp −$188	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
Nado MSTR-PERP	−0.0103%	1h	169.14	+0.020%	$139K	$98K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.26	+0.089%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.32	+0.125%	$88.7M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.32	+0.124%	$22.1M	$107.4M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.33	+0.131%	$296K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.27	+0.095%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.30	+0.111%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.28	+0.098%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.31	+0.118%	$2.9M	$57K	10x	as long as short
BloFin MSTR-USDT	+0.0002%	8h	169.21	+0.059%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.22	+0.065%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	169.10	−0.006%	$588K	$1.9M	10x
QFEX MSTR-USD	+0.0039%	1h	169.29	+0.106%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.37	+0.154%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0048%	1h	169.11	long leg	$1.5M	$1.2M	10x
tradeXYZ xyz:MSTR	+0.0050%	1h	169.21	+0.059%	$56.6M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.25	+0.083%	$410K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.29	+0.106%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.11	0.000%	$737K	$5.0M	10x	as long as short
Bitget MSTRUSDT	+0.0068%	8h	169.29	+0.106%	$28.8M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	169.26	+0.088%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0091%	8h	169.27	+0.095%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.27	+0.096%	$103K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.20	+0.053%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.27	+0.095%	$4K	$979K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.32	+0.124%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.30	+0.112%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.27	+0.096%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0358%	4h	169.27	+0.095%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.35	+0.142%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.006%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0814%	1h	169.33	+0.130%	$288K	$438K	10x	as long as short