MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0295%/8h= +32.2% APRnext payment +$0.37 per $10,000 · paid last 24h +0.034%

Price spread now: Phoenix against Injective−3.971%112s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.296%+$30 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 3.971% cheaper against Injective than usual: you would sell low and buy high (spread −3.971% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$397 on $10k: about 45 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.296% in total) that is about 3 months. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSTR/USDC PERP	169.34	0.0033	pay 0.0004% / 1h	35m 34s	$8K	$26K	30x
Short	Phoenix MSTR	162.62	0.0328	get 0.0041% / 1h	35m 34s	$55K	$223K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Injective. 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 InjectivebpFee PhoenixbpOrdersPrice spread, now −3.971%Rate

Funding earned: $61.85
Price spread: −3.971% → 0.000%: −$397.13
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$342.3
Costs to cover: 0.070%
Break-even: 45.7 days

Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 4 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 4 min ago	2.58 bp	9.2 bp −$9	18.1 bp −$181	doesn't fit	doesn't fit

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	−0.0942%	8h	162.79	−3.868%	$28.6M	$118.9M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.63	−3.962%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.36	−3.531%	$2.8M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0029%	8h	162.55	−4.007%	$1.7M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.40	−4.101%	$505K	$2.0M	10x	as long as short
Injective MSTR/USDC PERPlong	+0.0033%	1h	169.34	long leg	$8K	$26K	30x
Arcus MSTR-USD	+0.0040%	1h	162.73	−3.903%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.18	−4.228%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.49	−4.045%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.56	−4.004%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.45	−4.069%	$852K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.54	−4.016%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.59	−3.986%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.55	−4.010%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.41	−4.092%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.58	−3.992%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.58	−3.992%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0142%	8h	162.58	−3.992%	$20.7M	$100.0M	50x	as long as short
Variational Omni MSTR	+0.0149%	8h	162.56	−4.006%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0152%	1h	162.52	−4.027%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−4.618%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0158%	8h	162.55	−4.010%	$65	—	5x	as long as short
Binance MSTRUSDT	+0.0228%	8h	162.55	−4.010%	$83.6M	$627.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0238%	8h	162.63	−3.965%	$83K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0272%	1h	162.50	−4.039%	$53.9M	$37.3M	10x	as long as short
Phoenix MSTRshort	+0.0328%	1h	162.62	−3.971%	$55K	$223K	10x
BloFin MSTR-USDT	+0.0345%	8h	162.61	−3.974%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0349%	1h	162.44	−4.075%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.56	−4.004%	$261K	$436K	10x	as long as short
Bybit MSTRUSDT	+0.0383%	8h	162.57	−3.998%	$16.8M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0711%	4h	162.63	−3.963%	$45K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0982%	1h	162.60	−3.980%	$277K	$437K	10x	as long as short