MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0705%/8h= −77.2% APRnext payment −$0.88 per $10,000 · paid last 24h −0.178%

Price spread now: Coinbase International against Deribit−0.342%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.371%−$37 on $10k

Price spread, last 3 days (all we have)+0.345%+$35 · spread now −0.342%, 7d avg −0.104%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Coinbase International is 0.238% cheaper against Deribit than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	169.69	0.0753	pay 0.0094% / 1h	23m 51s	$288K	$438K	10x
Short	Coinbase International MSTR-PERP-INTX	169.11	0.0048	get 0.0006% / 1h	23m 51s	$1.5M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.342%Rate

Funding earned: −$148.01
Price spread: −0.342% → −0.104%: −$23.81
Slippage, 4 orders: −$23.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$211.85
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Deribit: live order book, 65 min ago; Coinbase International: 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 Deribit live order book, 65 min ago	6.19 bp	9.7 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.72 bp	9.7 bp −$10	16.8 bp −$168	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	−0.0079%	1h	169.46	−0.133%	$140K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0015%	8h	169.65	−0.024%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.59	−0.058%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.68	−0.005%	$88.9M	$629.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.74	+0.029%	$22.1M	$107.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.67	−0.010%	$297K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.64	−0.029%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.58	−0.065%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	−0.147%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.61	−0.047%	$2.9M	$57K	10x	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	169.57	−0.071%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.41	−0.167%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.58	−0.065%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.68	−0.006%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0048%	1h	169.11	−0.342%	$1.5M	$1.2M	10x
tradeXYZ xyz:MSTR	+0.0050%	1h	169.58	−0.065%	$56.7M	$38.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.59	−0.059%	$413K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.66	−0.018%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.27	−0.248%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0071%	8h	169.71	+0.012%	$28.9M	$119.8M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0073%	8h	169.59	−0.057%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0092%	8h	169.67	−0.012%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.58	−0.066%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.48	−0.124%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.37	−0.189%	$4K	$934K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.62	−0.041%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.60	−0.051%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.44	−0.149%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0387%	4h	169.35	−0.199%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.66	−0.018%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.348%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0753%	1h	169.69	long leg	$288K	$438K	10x