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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 05:00 UTC−0.1202%/8h= −131.7% APRpaid last 24h 0.000%
Price spread now: Bitget against Nado+0.125%7-day average +0.032% · 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−$64as in the Price arb table
costs, in and out, $10k−$730.732% of the position
Long on NadoShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.058%+$6 on $10k
Price spread, last 4 days (all we have)−0.413%−$41 · spread now +0.125%, 7d avg +0.032%
Together, before fees−0.355%+ Points / potential airdropNado: Active · farm board−$36 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bitget is 0.093% dearer against Nado than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of +0.032%): +$9 on $10k if it goes back. Holding the pair costs −$36 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 3 days funding on this pair paid +0.058%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.058% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado MSTR-PERP163.630.0241pay 0.0030% / 1h10m 09s$121K$148K3x
ShortBitget MSTRUSDT163.83−0.0961pay 0.0961% / 8h3h 10m$27.1M$116.6M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Nado. 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
−$252.5
Price spread: +0.125% → +0.032%
$9.27
Slippage, 4 orders
−$54.2
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$316.43
Costs to cover
0.732%
Break-even
never at this rate
Slippage from Nado: live order book, 42 min ago; Bitget: live order book, 4 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 Nado live order book, 42 min ago5.77 bp26.6 bp −$2784.3 bp −$843doesn't fitdoesn't fit
Sell Bitget live order book, 4 min ago0.31 bp7.9 bp −$812.6 bp −$12625.3 bp −$2,534doesn'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 MSTRUSDTshort−0.0961%8h163.83+0.125%$27.1M$116.6M25x
Aster MSTRUSDT0.0000%8h163.64+0.008%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.72+0.058%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.81+0.113%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.65+0.015%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.54−0.049%$588K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.492%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.89+0.161%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0042%8h163.67+0.027%$20.7M$98.9M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.46−0.101%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.64+0.009%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.66+0.021%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.51−0.071%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.66+0.021%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0068%8h163.70+0.043%$65—5xas long as short
Variational Omni MSTR+0.0091%8h163.69+0.042%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.66+0.018%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.61−0.010%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.77+0.088%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.60−0.016%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.62−0.004%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0151%8h163.84+0.132%$83K$837K10xas long as short
Binance MSTRUSDT+0.0155%8h163.71+0.051%$85.9M$619.0M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.84+0.131%$1.4M$1.1M10xas long as short
edgeX MSTRUSDC+0.0190%4h163.81+0.110%$48K$5.3M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.69+0.041%$265K$445K10xas long as short
Nado MSTR-PERPlong+0.0241%1h163.63long leg$121K$148K3x
tradeXYZ xyz:MSTR+0.0252%1h163.66+0.021%$54.5M$37.1M10xas long as short
BloFin MSTR-USDT+0.0275%8h163.78+0.094%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0312%8h163.73+0.064%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.98+0.217%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0545%1h163.69+0.039%$278K$438K10xas long as short