Funding you earn now, next payment 05:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.027%
Price spread now: Phemex against Coinbase International+1.145%7-day average +0.108% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.389%−$39 on $10k
+Price spread, last 4 days (all we have)−1.184%−$118 · spread now +1.145%, 7d avg +0.108%
=The price spread pays, funding is against you. Phemex is 1.038% dearer against Coinbase International than usual: you sell high and buy low (spread +1.145% now, against its 7-day average of +0.108%): +$104 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 21 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSTR-PERP-INTX | 161.52 | 0.0168 | pay 0.0021% / 1h | 14m 14s | $1.4M | $1.1M | 10x |
| Short | Phemex MSTRUSDT | 163.37 | 0 | get 0.0000% / 4h | 2h 14m | $2.8M | $78K | 10x |
Coinbase International MSTR-PERP-INTX
Phemex MSTRUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$35.28
- Price spread: +1.145% → +0.108%
- $103.76
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $46.48
- Costs to cover
- 0.220%
- Break-even
- from the start
Slippage unknown: Coinbase International: live order book, 4 min ago; Phemex: live order book, 4 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 Coinbase International live order book, 4 min ago | 3.38 bp | 10.4 bp −$10 | 15.8 bp −$158 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.15 bp | doesn't fit | doesn't fit | 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 | −0.1273% | 8h | 163.44 | +1.189% | $27.6M | $118.6M | 25x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.30 | +1.102% | $4.7M | $19.8M | 50x | as long as short |
| Phemex MSTRUSDTshort | 0.0000% | 4h | 163.37 | +1.145% | $2.8M | $78K | 10x | |
| Aster MSTRUSDT | +0.0002% | 8h | 163.04 | +0.941% | $1.8M | $8.7M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.0020% | 1h | 162.90 | +0.854% | — | $1.8M | 25x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.09 | +0.975% | $500K | $2.0M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +4.842% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 162.93 | +0.873% | $26K | $109K | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.12 | +0.991% | $376K | $2.7M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 162.93 | +0.873% | $870K | $3.9M | 10x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Aster MSTRUSDT
Vest MSTR-USD-PERP
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Polymarket Perps MSTR-USD
Ondo Perps MSTR-USD.PShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | +0.0054% | 1h | 163.13 | +0.997% | $1.3M | $7.3M | 10x | as long as short |
| edgeX MSTRUSDC | +0.0056% | 4h | 162.86 | +0.828% | $45K | $5.4M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 163.15 | +1.011% | $262K | $444K | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.13 | +0.998% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.08 | +0.966% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 162.81 | +0.799% | $5K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.15 | +1.009% | $4K | $9K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.15 | +1.010% | $135 | — | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0106% | 8h | 163.29 | +1.096% | $20.7M | $100.7M | 50x | as long as short |
| Variational Omni MSTR | +0.0132% | 8h | 162.96 | +0.890% | $1.2M | $2.1M | — | as long as short |
| SoDEX MSTR-USD | +0.0133% | 1h | 163.19 | +1.034% | $43K | $3K | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0143% | 8h | 163.14 | +1.004% | $65 | — | 5x | as long as short |
| Lighter MSTR | +0.0152% | 1h | 163.17 | +1.022% | $3.5M | $2.0M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTXlong | +0.0168% | 1h | 161.52 | long leg | $1.4M | $1.1M | 10x | |
| Binance MSTRUSDT | +0.0206% | 8h | 163.24 | +1.063% | $83.7M | $628.1M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0222% | 8h | 162.79 | +0.788% | $79K | $857K | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0286% | 1h | 163.16 | +1.015% | $54.2M | $37.3M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0325% | 8h | 163.11 | +0.984% | $1.0M | $2.1M | 20x | as long as short |
| Nado MSTR-PERP | +0.0340% | 1h | 163.07 | +0.962% | $130K | $157K | 3x | as long as short |
| Phoenix MSTR | +0.0362% | 1h | 162.72 | +0.744% | $55K | $226K | 10x | as long as short |
| Bybit MSTRUSDT | +0.0377% | 8h | 163.24 | +1.065% | $16.7M | $41.9M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0793% | 1h | 163.21 | +1.046% | $278K | $438K | 10x | as long as short |
QFEX MSTR-USD
edgeX MSTRUSDC
RISEx MSTR/USDC
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
OKX MSTR-USDT-SWAP
Variational Omni MSTR
SoDEX MSTR-USD
Paradex MSTR-USD-PERP
Lighter MSTR
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
tradeXYZ xyz:MSTR
BloFin MSTR-USDT
Nado MSTR-PERP
Phoenix MSTR
Bybit MSTRUSDT
Deribit MSTR_USDC-PERPETUAL