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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 16:00 UTC+0.0546%/8h= +59.8% APRnext payment +$5.46 per $10,000 · paid last 24h −0.011%
Price spread now: GRVT against OKX−0.134%51s7-day average +0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as 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−$300.302% of the position
Long on OKXShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 7 days−0.085%−$8 on $10k
Price spread, last 4 days (all we have)+0.978%+$98 · spread now −0.134%, 7d avg +0.021%
Together, before fees+0.893%+ Points / potential airdropGRVT: Active · farm board+$89 on $10k · with fees, hour by hour
Funding pays, the price is against you. GRVT is 0.155% cheaper against OKX than usual: you would sell low and buy high (spread −0.134% now, against its 7-day average of +0.021%). If the spread goes back, that is −$16 on $10k: about 23 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour. The two prices were read 51 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 -0.085% in total (about -4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.46 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-SWAP163.680.0215pay 0.0215% / 8h7h 52m$20.9M$99.5M50x
ShortGRVT MSTR_USDT_Perp163.460.0761get 0.0761% / 8h7h 52m$80K$858K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GRVT 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
$114.59
Price spread: −0.134% → +0.021%
−$15.52
Slippage, 4 orders
−$11.17
Fee OKX: 5 bp × 2 orders
−$10
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
$68.9
Costs to cover
0.302%
Break-even
2.8 days
Slippage from OKX: live order book, 1 min ago; GRVT: live order book, 45 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, 1 min ago0.31 bp6.5 bp −$612.5 bp −$125doesn't fitdoesn't fit
Sell GRVT live order book, 45 min ago0.92 bp9.9 bp −$1014.2 bp −$142doesn'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−0.0293%8h163.76+0.049%$30.0M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.74+0.037%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.73+0.031%$2.8M$85K10xas long as short
Lighter MSTR+0.0032%1h163.60−0.049%$3.5M$1.7M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.51−0.104%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.458%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.67−0.006%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.55−0.079%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.50−0.110%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.46−0.134%$898K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0061%1h163.70+0.012%$1.4M$7.1M10xas long as short
SoDEX MSTR-USD+0.0081%1h163.64−0.024%$43K$3K10xas long as short
Aster MSTRUSDT+0.0097%8h163.66−0.014%$1.8M$8.7M50xas long as short
Nado MSTR-PERP+0.0098%1h163.46−0.134%$125K$165K3xas long as short
Pacifica MSTR+0.0100%1h163.58−0.062%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.52−0.098%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.28−0.244%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.71+0.018%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.72+0.025%$136—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.648%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0132%8h163.61−0.040%$65—5xas long as short
Bybit MSTRUSDT+0.0174%8h163.63−0.031%$17.1M$41.3M50xas long as short
Variational Omni MSTR+0.0215%8h163.64−0.026%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAPlong+0.0215%8h163.68long leg$20.9M$99.5M50x
Binance MSTRUSDT+0.0296%8h163.68+0.002%$84.3M$619.2M50xas long as short
tradeXYZ xyz:MSTR+0.0352%1h163.66−0.012%$54.0M$37.4M10xas long as short
RISEx MSTR/USDC+0.0400%1h163.69+0.006%$269K$417K10xas long as short
BloFin MSTR-USDT+0.0411%8h163.76+0.049%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.66−0.010%$56K$223K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0666%1h163.82+0.086%$279K$435K10xas long as short
GRVT MSTR_USDT_Perpshort+0.0761%8h163.46−0.134%$80K$858K10x
edgeX MSTRUSDC+0.0997%4h163.38−0.186%$47K$5.3M10xas long as short