Funding you earn now, next payment 03:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.069%
Price spread now: Phoenix against Extended+0.117%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$370.367% of the position
Funding, last 7 days+0.188%+$19 on $10k
+Price spread, last 4 days (all we have)+0.357%+$36 · spread now +0.117%, 7d avg +0.093%
=Together, before fees+0.545%+ Points / potential airdropExtended: Active · farm board+$55 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.024% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.093%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MSTR_24_5-USD | 164.56 | 0.0032 | pay 0.0004% / 1h | 57m 05s | $594K | $1.9M | 10x |
| Short | Phoenix MSTR | 164.76 | 0.0213 | get 0.0027% / 1h | 57m 05s | $56K | $226K | 10x |
Extended MSTR_24_5-USD
Phoenix MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $37.96
- Price spread: +0.117% → +0.093%
- $2.41
- Slippage, 4 orders
- −$24.66
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $3.72
- Costs to cover
- 0.367%
- Break-even
- 6.3 days
Slippage from Extended: live order book, 1 min ago; Phoenix: live order book, 58 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 Extended live order book, 1 min ago | 2.73 bp | 6.2 bp −$6 | 23.6 bp −$236 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 58 min ago | 3.39 bp | 10.9 bp −$11 | 22.5 bp −$225 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSTRUSDT | −0.0906% | 8h | 164.79 | +0.137% | $27.9M | $115.2M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.62 | +0.030% | $1.8M | $8.5M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.75 | +0.112% | $4.6M | $18.7M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.72 | +0.094% | $2.8M | $75K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0024% | 8h | 164.72 | +0.094% | $20.7M | $99.7M | 50x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.63 | +0.039% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USDlong | +0.0032% | 1h | 164.56 | long leg | $594K | $1.9M | 10x | |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +2.902% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.74 | +0.106% | $26K | $109K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.66 | +0.058% | — | $1.7M | 25x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
OKX MSTR-USDT-SWAP
Lighter MSTR
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.64 | +0.046% | $381K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.66 | +0.058% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.51 | −0.033% | $859K | $4.0M | 10x | as long as short |
| QFEX MSTR-USD | +0.0067% | 1h | 164.71 | +0.088% | $1.4M | $7.4M | 10x | as long as short |
| Variational Omni MSTR | +0.0097% | 8h | 164.61 | +0.025% | $1.2M | $2.1M | — | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.68 | +0.072% | $101K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.62 | +0.033% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.62 | +0.033% | $6K | $186K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.67 | +0.064% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.71 | +0.087% | $137 | — | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0128% | 1h | 164.64 | +0.046% | $54.8M | $37.0M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0140% | 8h | 164.70 | +0.083% | $66 | — | 5x | as long as short |
| Binance MSTRUSDT | +0.0157% | 8h | 164.70 | +0.082% | $87.0M | $615.6M | 50x | as long as short |
| edgeX MSTRUSDC | +0.0159% | 4h | 164.73 | +0.103% | $49K | $5.3M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 164.12 | −0.270% | $1.4M | $1.1M | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0179% | 8h | 164.77 | +0.127% | $82K | $792K | 10x | as long as short |
| Phoenix MSTRshort | +0.0213% | 1h | 164.76 | +0.117% | $56K | $226K | 10x | |
| RISEx MSTR/USDC | +0.0231% | 1h | 164.74 | +0.106% | $267K | $445K | 10x | as long as short |
| Nado MSTR-PERP | +0.0231% | 1h | 164.60 | +0.021% | $122K | $148K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0277% | 8h | 164.69 | +0.076% | $1.0M | $2.0M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0345% | 8h | 164.74 | +0.106% | $17.0M | $40.8M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0661% | 1h | 164.72 | +0.094% | $280K | $438K | 10x | as long as short |
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
Variational Omni MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
tradeXYZ xyz:MSTR
Paradex MSTR-USD-PERP
Binance MSTRUSDT
edgeX MSTRUSDC
Coinbase International MSTR-PERP-INTX
GRVT MSTR_USDT_Perp
RISEx MSTR/USDC
Nado MSTR-PERP
BloFin MSTR-USDT
Bybit MSTRUSDT
Deribit MSTR_USDC-PERPETUAL