MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0703%/8h= −77.0% APRnext payment −$0.88 per $10,000 · paid last 24h −0.172%

Price spread now: Polymarket Perps against Deribit−0.024%7-day average −0.069% · 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−$34as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on Deribit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.397%−$40 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.024%, 7d avg −0.069%

Together, before fees−0.374%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.045% dearer against Deribit than usual: you sell high and buy low (spread −0.024% now, against its 7-day average of −0.069%): +$5 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 5 days (−0.397% in total) that is about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	169.70	0.0753	pay 0.0094% / 1h	23m 01s	$288K	$438K	10x
Short	Polymarket Perps MSTR-USD	169.66	0.0050	get 0.0006% / 1h	23m 01s	$413K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$147.58
Price spread: −0.024% → −0.069%: $4.52
Slippage, 4 orders: −$23.56
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$181.62
Costs to cover: 0.386%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Polymarket Perps: live order book, 6 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, 1 min ago	4.71 bp	8.2 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	3.25 bp	7.2 bp −$7	11.4 bp −$114	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	−0.0070%	1h	169.50	−0.117%	$140K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	169.62	−0.047%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.56	−0.082%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.61	−0.053%	$88.8M	$629.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.61	−0.053%	$22.1M	$107.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.65	−0.027%	$297K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.56	−0.082%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.58	−0.071%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	−0.153%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.58	−0.071%	$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	−0.077%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.46	−0.140%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.65	−0.029%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.77	+0.041%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.348%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.52	−0.106%	$56.7M	$38.1M	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	169.66	−0.024%	$413K	$2.6M	10x
SoDEX MSTR-USD	+0.0050%	1h	169.60	−0.059%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.59	−0.065%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0073%	8h	169.57	−0.077%	$28.9M	$119.8M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0076%	8h	169.67	−0.020%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0095%	8h	169.62	−0.047%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.65	−0.028%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.44	−0.153%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.37	−0.194%	$4K	$934K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.60	−0.059%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.070%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.44	−0.154%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0387%	4h	169.35	−0.205%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.69	−0.006%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.354%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0753%	1h	169.70	long leg	$288K	$438K	10x