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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 09:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h −0.002%
Price spread now: Injective against OKX+3.471%48s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OKXShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days−0.104%−$10 on $10k
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 3.471% dearer against OKX than usual: you sell high and buy low (spread +3.471% now, against zero (this spread has no 7-day history yet)): +$347 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.104% in total) that is about 8 months. The two prices were read 48 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 -0.104% in total (about -5.4% 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-SWAP163.660.0218pay 0.0218% / 8h7h 50m$20.9M$99.5M50x
ShortInjective MSTR/USDC PERP169.340.0033get 0.0004% / 1h50m 33s$8K$25K30x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective 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
−$38.87
Price spread: +3.471% → 0.000%
$347.06
Slippage, 4 orders
no order book: not counted
Fee OKX: 5 bp × 2 orders
−$10
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$298.17
Costs to cover
0.100%
Break-even
from the start
Slippage unknown: OKX: live order book, 3 min ago; Injective: no order-book sample. Net counts fees only.

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 bp6.5 bp −$612.5 bp −$125doesn't fitdoesn't fit
Sell Injective no order-book sample—————
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0264%8h163.70+0.024%$30.0M$118.6M25xas long as short
Phemex MSTRUSDT0.0000%4h163.86+0.122%$2.8M$85K10xas long as short
Gate MSTR_USDT+0.0009%8h163.74+0.049%$4.7M$18.4M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.49−0.105%$592K$2.0M10xas long as short
Injective MSTR/USDC PERPshort+0.0033%1h169.34+3.471%$8K$25K30x
Arcus MSTR-USD+0.0040%1h163.73+0.043%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.81+0.092%—$1.7M25xas long as short
Lighter MSTR+0.0048%1h163.74+0.049%$3.5M$1.7M10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.75+0.055%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.77+0.067%$892K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0061%1h163.64−0.012%$1.4M$7.1M10xas long as short
Pacifica MSTR+0.0100%1h163.71+0.028%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.59−0.043%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.46−0.122%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.84+0.110%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.86+0.120%$136—10xas long as short
Aster MSTRUSDT+0.0107%8h163.660.000%$1.8M$8.7M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.635%$1.4M$1.1M10xas long as short
Nado MSTR-PERP+0.0128%1h163.52−0.085%$125K$165K3xas long as short
SoDEX MSTR-USD+0.0137%1h163.78+0.073%$43K$3K10xas long as short
Paradex MSTR-USD-PERP+0.0140%8h163.70+0.025%$65—5xas long as short
Variational Omni MSTR+0.0218%8h163.95+0.176%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAPlong+0.0218%8h163.66long leg$20.9M$99.5M50x
Binance MSTRUSDT+0.0302%8h163.70+0.024%$84.3M$618.9M50xas long as short
tradeXYZ xyz:MSTR+0.0384%1h163.76+0.061%$54.0M$37.5M10xas long as short
RISEx MSTR/USDC+0.0400%1h163.69+0.016%$269K$417K10xas long as short
BloFin MSTR-USDT+0.0417%8h163.94+0.171%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.66+0.002%$56K$223K10xas long as short
Bybit MSTRUSDT+0.0499%8h163.71+0.031%$17.2M$41.3M50xas long as short
edgeX MSTRUSDC+0.0834%4h163.62−0.025%$47K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0849%1h163.98+0.196%$279K$435K10xas long as short
GRVT MSTR_USDT_Perp+0.0900%8h163.72+0.038%$80K$838K10xas long as short