MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0638%/8h= −69.9% APRnext payment −$0.80 per $10,000 · paid last 24h −0.165%

Price spread now: Injective against Deribit+3.909%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 3.909% dearer against Deribit than usual: you sell high and buy low (spread +3.909% now, against zero (this spread has no 7-day history yet)): +$391 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	162.97	0.0671	pay 0.0084% / 1h	17m 09s	$277K	$438K	10x
Short	Injective MSTR/USDC PERP	169.34	0.0033	get 0.0004% / 1h	17m 09s	$8K	$26K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +3.909%Rate

Funding earned: −$133.96
Price spread: +3.909% → 0.000%: $390.87
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $249.88
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: live order book, 32 min ago; Injective: 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 Deribit live order book, 32 min ago	6.10 bp	9.6 bp −$10	11.9 bp −$119	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.1303%	8h	163.10	+0.080%	$27.1M	$118.3M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.95	−0.012%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.01	+0.025%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0003%	8h	162.86	−0.066%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0021%	1h	162.55	−0.258%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.83	−0.086%	$503K	$2.0M	10x	as long as short
Injective MSTR/USDC PERPshort	+0.0033%	1h	169.34	+3.909%	$8K	$26K	30x
Arcus MSTR-USD	+0.0040%	1h	162.60	−0.227%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.86	−0.067%	$376K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.56	−0.252%	$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	−0.080%	$1.3M	$7.3M	10x	as long as short
SoDEX MSTR-USD	+0.0055%	1h	162.87	−0.061%	$43K	$3K	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.97	−0.003%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.83	−0.084%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.85	−0.074%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.70	−0.166%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.91	−0.037%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.94	−0.017%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0105%	8h	162.91	−0.037%	$20.6M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	−0.456%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0148%	8h	162.79	−0.109%	$65	—	5x	as long as short
Lighter MSTR	+0.0152%	1h	162.92	−0.031%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.890%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0206%	8h	162.94	−0.018%	$83.6M	$627.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0222%	8h	162.79	−0.108%	$79K	$857K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0303%	1h	162.85	−0.074%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.95	−0.012%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0349%	1h	162.71	−0.158%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0362%	1h	162.72	−0.152%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.94	−0.018%	$16.7M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0671%	1h	162.97	long leg	$277K	$438K	10x
edgeX MSTRUSDC	+0.0737%	4h	162.33	−0.392%	$45K	$5.4M	10x	as long as short