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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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Funding you earn now, next payment 08:00 UTC+0.0268%/8h= +29.3% APRnext payment +$2.68 per $10,000 · paid last 24h −0.008%
Price spread now: Bybit against OKX+0.086%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$310.310% of the position
Long on OKXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.014%+$1 on $10k
Price spread, last 7 days−0.120%−$12 · spread now +0.086%, 7d avg −0.004%
Together, before fees−0.106%−$11 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 Bybit is 0.089% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.004%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.68 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
LongOKX MSTR-USDT-SWAP163.730.0050pay 0.0050% / 8h2h 55m$20.7M$99.1M50x
ShortBybit MSTRUSDT163.870.0318get 0.0318% / 8h2h 55m$16.6M$41.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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
$56.21
Price spread: +0.086% → −0.004%
$8.94
Slippage, 4 orders
−$9.98
Fee OKX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$34.17
Costs to cover
0.310%
Break-even
2.7 days
Slippage from OKX: live order book, 3 min ago; Bybit: live order book, 3 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 OKX live order book, 3 min ago0.31 bp6.0 bp −$611.0 bp −$110doesn't fitdoesn't fit
Sell Bybit live order book, 3 min ago0.61 bp9.9 bp −$1014.9 bp −$149116.2 bp −$11.6Kdoesn'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−0.0987%8h163.89+0.098%$27.1M$116.8M25xas long as short
Aster MSTRUSDT0.0000%8h163.78+0.031%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.80+0.043%$4.6M$19.1M50xas long as short
Phemex MSTRUSDT0.0000%4h164.00+0.165%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.58−0.092%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.426%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.74+0.006%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.43−0.183%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.64−0.055%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.72−0.006%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX MSTR-USDT-SWAPlong+0.0050%8h163.73long leg$20.7M$99.1M50x
Ondo Perps MSTR-USD.P+0.0050%1h163.65−0.049%$817K$3.9M10xas long as short
QFEX MSTR-USD+0.0054%1h163.68−0.031%$1.4M$7.2M10xas long as short
Lighter MSTR+0.0056%1h163.69−0.024%$3.5M$1.9M10xas long as short
Paradex MSTR-USD-PERP+0.0085%8h163.70−0.019%$65—5xas long as short
RISEx MSTR/USDC+0.0088%1h163.74+0.003%$266K$446K10xas long as short
Variational Omni MSTR+0.0094%8h163.78+0.031%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.71−0.012%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.63−0.061%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.44−0.177%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.730.000%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.75+0.011%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0148%8h163.74+0.005%$83K$824K10xas long as short
Binance MSTRUSDT+0.0160%8h163.72−0.006%$85.9M$619.4M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.098%$1.4M$1.1M10xas long as short
edgeX MSTRUSDC+0.0248%4h163.64−0.057%$48K$5.4M10xas long as short
BloFin MSTR-USDT+0.0278%8h163.79+0.037%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0288%1h163.61−0.071%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0304%1h163.66−0.043%$54.5M$37.1M10xas long as short
Bybit MSTRUSDTshort+0.0318%8h163.87+0.086%$16.6M$41.2M50x
Phoenix MSTR+0.0340%1h163.63−0.064%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0850%1h163.78+0.031%$279K$438K10xas long as short