MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0118%/8h= −12.9% APRnext payment −$0.15 per $10,000 · paid last 24h −0.012%

Price spread now: Polymarket Perps against Coinbase International+0.830%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs+$45as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.861%−$86 · spread now +0.830%, 7d avg +0.046%

Together, before fees−0.953%−$95 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.784% dearer against Coinbase International than usual: you sell high and buy low (spread +0.830% now, against its 7-day average of +0.046%): +$78 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 22 days. At the pace of the last 7 days (−0.092% in total) that is about 60 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	16m 55s	$1.4M	$1.1M	10x
Short	Polymarket Perps MSTR-USD	162.86	0.0050	get 0.0006% / 1h	16m 55s	$376K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.830%Rate

Funding earned: −$24.78
Price spread: +0.830% → +0.046%: $78.4
Slippage, 4 orders: −$15.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $20.57
Costs to cover: 0.330%
Break-even: from the start

Slippage from Coinbase International: live order book, 2 min ago; Polymarket Perps: live order book, 2 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, 2 min ago	3.38 bp	10.4 bp −$10	15.8 bp −$158	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.15 bp	6.2 bp −$6	8.6 bp −$86	12.0 bp −$1,202	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	−0.1303%	8h	163.06	+0.953%	$27.2M	$118.3M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.89	+0.848%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.01	+0.922%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0003%	8h	162.80	+0.790%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0021%	1h	162.55	+0.638%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.69	+0.721%	$503K	$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	162.60	+0.669%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	162.86	+0.830%	$376K	$2.7M	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.56	+0.644%	$866K	$3.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	162.84	+0.817%	$1.3M	$7.3M	10x	as long as short
SoDEX MSTR-USD	+0.0055%	1h	162.87	+0.836%	$43K	$3K	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.97	+0.895%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.83	+0.813%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.81	+0.799%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.70	+0.731%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.91	+0.861%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.94	+0.881%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0105%	8h	162.85	+0.823%	$20.6M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	+0.437%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0148%	8h	162.79	+0.788%	$65	—	5x	as long as short
Lighter MSTR	+0.0152%	1h	162.92	+0.867%	$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	162.85	+0.823%	$83.5M	$627.9M	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	+0.0300%	1h	162.82	+0.805%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.95	+0.885%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0349%	1h	162.71	+0.738%	$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	+0.0378%	8h	162.84	+0.817%	$16.7M	$41.9M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0671%	1h	162.97	+0.898%	$277K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0737%	4h	162.33	+0.503%	$45K	$5.4M	10x	as long as short