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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC−0.0460%/8h= −50.4% APRnext payment −$2.30 per $10,000 · paid last 24h −0.184%
Price spread now: Phemex against edgeX+0.257%7-day average +0.031% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on edgeXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.238%−$24 on $10k
Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.257%, 7d avg +0.031%
Together, before fees−0.558%+ Points / potential airdropedgeX: Active · farm board−$56 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.226% dearer against edgeX than usual: you sell high and buy low (spread +0.257% now, against its 7-day average of +0.031%): +$23 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.238% in total) that is about 6.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.238% in total (about -12.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX MSTRUSDC163.050.0460pay 0.0230% / 4h2h 13m$45K$5.4M10x
ShortPhemex MSTRUSDT163.470get 0.0000% / 4h2h 13m$2.8M$78K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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

Funding earned
−$96.69
Price spread: +0.257% → +0.031%
$22.58
Slippage, 4 orders
no order book: not counted
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$95.11
Costs to cover
0.210%
Break-even
from the start
Slippage unknown: edgeX: live order book, 1 min ago; Phemex: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy edgeX live order book, 1 min ago5.51 bp10.5 bp −$1017.7 bp −$177doesn't fitdoesn't fit
Sell Phemex live order book, 6 min ago2.15 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.1256%8h163.66+0.374%$27.9M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.50+0.275%$4.7M$19.8M50xas long as short
Phemex MSTRUSDTshort0.0000%4h163.47+0.257%$2.8M$78K10x
Aster MSTRUSDT+0.0002%8h163.21+0.100%$1.8M$8.7M50xas long as short
Vest MSTR-USD-PERP+0.0020%1h163.09+0.024%—$1.8M25xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.31+0.156%$500K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.857%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.05−0.001%$26K$109K10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.32+0.165%$377K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h162.93−0.074%$870K$3.9M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0054%1h163.34+0.177%$1.3M$7.3M10xas long as short
RISEx MSTR/USDC+0.0088%1h163.36+0.190%$263K$444K10xas long as short
Pacifica MSTR+0.0100%1h163.31+0.156%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.21+0.098%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.99−0.037%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.33+0.171%$4K$9K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.32+0.163%$136—10xas long as short
OKX MSTR-USDT-SWAP+0.0110%8h163.54+0.300%$20.7M$100.8M50xas long as short
Variational Omni MSTR+0.0132%8h162.96−0.057%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0144%8h163.30+0.153%$65—5xas long as short
Lighter MSTR+0.0152%1h163.37+0.196%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h161.52−0.939%$1.4M$1.1M10xas long as short
SoDEX MSTR-USD+0.0174%1h163.35+0.183%$43K$3K10xas long as short
Binance MSTRUSDT+0.0209%8h163.51+0.283%$83.8M$628.4M50xas long as short
GRVT MSTR_USDT_Perp+0.0220%8h163.14+0.055%$79K$857K10xas long as short
tradeXYZ xyz:MSTR+0.0282%1h163.38+0.202%$54.3M$37.3M10xas long as short
BloFin MSTR-USDT+0.0329%8h163.38+0.202%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0339%1h163.25+0.123%$130K$157K3xas long as short
Phoenix MSTR+0.0362%1h163.21+0.098%$55K$226K10xas long as short
Bybit MSTRUSDT+0.0377%8h163.54+0.300%$16.8M$41.9M50xas long as short
edgeX MSTRUSDClong+0.0460%4h163.05long leg$45K$5.4M10x
Deribit MSTR_USDC-PERPETUAL+0.0914%1h163.45+0.245%$278K$438K10xas long as short