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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 12:00 UTC+0.0342%/8h= +37.5% APRpaid last 24h +0.168%
Price spread now: edgeX against OKX+0.104%101s7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$330.331% of the position
Long on OKXShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.046%+$5 on $10k
Price spread, last 7 days−0.139%−$14 · spread now +0.104%, 7d avg −0.018%
Together, before fees−0.093%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and edgeX is 0.122% dearer against OKX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.018%. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.046% in total (about 2.4% 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
LongOKX MSTR-USDT-SWAP163.480.0228pay 0.0228% / 8h7h 45m$20.9M$99.4M50x
ShortedgeX MSTRUSDC163.650.0570get 0.0285% / 4h3h 45m$47K$5.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX 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
$71.91
Price spread: +0.104% → −0.018%
$12.19
Slippage, 4 orders
−$14.14
Fee OKX: 5 bp × 2 orders
−$10
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
$50.97
Costs to cover
0.331%
Break-even
2.0 days
Slippage from OKX: live order book, 3 min ago; edgeX: 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 −$611.8 bp −$11862.1 bp −$6,211doesn't fit
Sell edgeX live order book, 3 min ago5.20 bp10.3 bp −$1017.3 bp −$173doesn'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−0.0211%8h163.53+0.031%$30.2M$118.5M25xas long as short
Phemex MSTRUSDT0.0000%4h163.41−0.043%$2.7M$85K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.26−0.134%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.585%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.55+0.043%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.32−0.098%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.20−0.171%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.36−0.073%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.39−0.055%$892K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.44−0.024%$1.3M$7.0M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter MSTR+0.0096%1h163.36−0.073%$3.5M$1.7M10xas long as short
Pacifica MSTR+0.0100%1h163.48+0.002%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.45−0.018%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.36−0.073%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.43−0.031%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.39−0.052%$136—10xas long as short
Aster MSTRUSDT+0.0120%8h163.51+0.021%$1.8M$8.7M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.526%$1.4M$1.1M10xas long as short
Gate MSTR_USDT+0.0124%8h163.54+0.037%$4.7M$18.5M50xas long as short
Paradex MSTR-USD-PERP+0.0162%8h163.42−0.038%$65—5xas long as short
Nado MSTR-PERP+0.0169%1h163.24−0.146%$125K$165K3xas long as short
OKX MSTR-USDT-SWAPlong+0.0228%8h163.48long leg$20.9M$99.4M50x
Variational Omni MSTR+0.0237%8h163.36−0.075%$1.2M$2.0M—as long as short
Binance MSTRUSDT+0.0315%8h163.46−0.012%$84.2M$619.1M50xas long as short
RISEx MSTR/USDC+0.0400%1h163.42−0.037%$268K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0426%1h163.36−0.073%$53.9M$37.6M10xas long as short
BloFin MSTR-USDT+0.0435%8h163.41−0.043%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.65+0.102%$56K$223K10xas long as short
edgeX MSTRUSDCshort+0.0570%4h163.65+0.104%$47K$5.4M10x
Bybit MSTRUSDT+0.0674%8h163.51+0.018%$17.1M$41.3M50xas long as short
GRVT MSTR_USDT_Perp+0.1038%8h163.62+0.088%$80K$848K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1160%1h163.38−0.061%$278K$432K10xas long as short