MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0118%/8h= −12.9% APRnext payment −$0.15 per $10,000 · paid last 24h −0.007%

Price spread now: Ondo Perps against Coinbase International−0.152%7-day average −0.037% · you buy dearer than you sell

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

Long on Coinbase International Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.200%+$20 · spread now −0.152%, 7d avg −0.037%

Together, before fees+0.059%+ Points / potential airdropOndo Perps: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Ondo Perps is 0.115% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	164.77	0.0168	pay 0.0021% / 1h	43m 13s	$1.4M	$1.1M	10x
Short	Ondo Perps MSTR-USD.P	164.52	0.0050	get 0.0006% / 1h	43m 13s	$866K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Coinbase International. 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 Coinbase InternationalbpFee Ondo PerpsbpOrdersPrice spread, now −0.152%Rate

Funding earned: −$24.7
Price spread: −0.152% → −0.037%: −$11.46
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$51.16
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, just now; Ondo Perps: no order-book sample. 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 Coinbase International live order book, just now	5.47 bp	10.5 bp −$10	14.7 bp −$147	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0840%	8h	164.68	−0.055%	$27.7M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0044%	8h	164.50	−0.164%	$4.6M	$18.4M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.59	−0.112%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.53	−0.146%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	164.48	−0.176%	$20.6M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.40	−0.225%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.31	−0.282%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.774%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.70	−0.042%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.79	+0.012%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.62	−0.091%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.56	−0.127%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.46	−0.188%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	164.52	−0.152%	$866K	$4.1M	10x
QFEX MSTR-USD	+0.0054%	1h	164.74	−0.018%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0063%	8h	164.69	−0.046%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.72	−0.030%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.39	−0.231%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	−0.127%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.45	−0.194%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.44	−0.202%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0125%	8h	164.47	−0.183%	$87.9M	$617.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0143%	8h	164.70	−0.045%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0162%	8h	164.73	−0.024%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	164.77	long leg	$1.4M	$1.1M	10x
Phoenix MSTR	+0.0213%	1h	164.56	−0.129%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0244%	1h	164.42	−0.212%	$54.9M	$36.9M	10x	as long as short
BloFin MSTR-USDT	+0.0245%	8h	164.52	−0.152%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0282%	1h	164.57	−0.119%	$122K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0370%	8h	164.55	−0.134%	$17.1M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0537%	4h	164.68	−0.058%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0602%	1h	164.46	−0.188%	$280K	$438K	10x	as long as short