Settings8H · net · $10k
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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0268%/8h= +29.4% APRnext payment +$0.34 per $10,000 · paid last 24h +0.197%
Price spread now: Deribit against Extended+0.188%7-day average +0.112% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$380.379% of the position
Long on ExtendedShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)+0.462%+$46 on $10k
Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.188%, 7d avg +0.112%
Together, before fees+0.465%+ Points / potential airdropExtended: Active · farm board+$47 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.076% dearer against Extended than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.112%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended MSTR_24_5-USD163.270.0032pay 0.0004% / 1h55m 48s$592K$2.0M10x
ShortDeribit MSTR_USDC-PERPETUAL163.580.0300get 0.0038% / 1h55m 48s$278K$435K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Extended. 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
$56.38
Price spread: +0.188% → +0.112%
$7.59
Slippage, 4 orders
−$25.9
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$26.08
Costs to cover
0.379%
Break-even
3.8 days
Slippage from Extended: live order book, 3 min ago; Deribit: live order book, 43 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 3 min ago3.36 bp7.6 bp −$825.2 bp −$252doesn't fitdoesn't fit
Sell Deribit live order book, 43 min ago6.72 bp10.8 bp −$1111.9 bp −$119doesn'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−0.0343%8h163.28+0.004%$29.7M$119.0M25xas long as short
Gate MSTR_USDT0.0000%8h163.32+0.029%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.65+0.231%$2.8M$85K10xas long as short
Lighter MSTR+0.0032%1h163.58+0.188%$3.5M$1.7M10xas long as short
Extended MSTR_24_5-USDlong+0.0032%1h163.27long leg$592K$2.0M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.716%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.81+0.329%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.73+0.280%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.63+0.219%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.72+0.274%$898K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0061%1h163.75+0.292%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0089%8h163.41+0.085%$1.8M$8.7M50xas long as short
Nado MSTR-PERP+0.0093%1h163.70+0.260%$125K$165K3xas long as short
Pacifica MSTR+0.0100%1h163.76+0.296%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.46+0.115%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.45+0.108%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.72+0.274%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.71+0.266%$136—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.400%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0129%8h163.76+0.298%$66—5xas long as short
OKX MSTR-USDT-SWAP+0.0211%8h163.25−0.014%$20.8M$99.5M50xas long as short
Variational Omni MSTR+0.0215%8h163.64+0.224%$1.2M$2.0M—as long as short
tradeXYZ xyz:MSTR+0.0281%1h163.54+0.164%$54.0M$37.7M10xas long as short
Binance MSTRUSDT+0.0283%8h163.29+0.010%$84.1M$619.9M50xas long as short
SoDEX MSTR-USD+0.0298%1h163.64+0.225%$43K$3K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0300%1h163.58+0.188%$278K$435K10x
Phoenix MSTR+0.0357%1h163.79+0.315%$56K$223K10xas long as short
Bybit MSTRUSDT+0.0382%8h163.28+0.004%$17.1M$41.4M50xas long as short
BloFin MSTR-USDT+0.0398%8h163.94+0.409%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0400%1h163.75+0.292%$269K$417K10xas long as short
GRVT MSTR_USDT_Perp+0.0485%8h163.68+0.249%$80K$858K10xas long as short
edgeX MSTRUSDC+0.0936%4h163.43+0.097%$47K$5.3M10xas long as short