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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 05:00 UTC−0.1025%/8h= −112.3% APRpaid last 24h +0.020%
Price spread now: Bitget against Ondo Perps+0.281%7-day average +0.100% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.069%−$7 on $10k
Price spread, last 7 days−0.063%−$6 · spread now +0.281%, 7d avg +0.100%
Together, before fees−0.132%+ Points / potential airdropOndo Perps: Active · farm board−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bitget is 0.181% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.281% now, against its 7-day average of +0.100%): +$18 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.069% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% 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
LongOndo Perps MSTR-USD.P163.470.0050pay 0.0006% / 1h7m 41s$817K$4.0M10x
ShortBitget MSTRUSDT163.93−0.0975pay 0.0975% / 8h3h 07m$27.1M$116.6M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. 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
−$215.33
Price spread: +0.281% → +0.100%
$18.15
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$214.19
Costs to cover
0.170%
Break-even
from the start
Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 1 min ago. 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 Ondo Perps no order-book sample—————
Sell Bitget live order book, 1 min ago0.31 bp8.7 bp −$913.6 bp −$13637.9 bp −$3,789doesn't fit
Ondo Perps: 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 MSTRUSDTshort−0.0975%8h163.93+0.281%$27.1M$116.6M25x
Aster MSTRUSDT0.0000%8h163.77+0.185%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.87+0.245%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.78+0.190%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.74+0.165%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.59+0.076%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.591%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.81+0.208%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.82+0.214%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.39−0.049%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.58+0.067%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.63+0.098%$43K$3K10xas long as short
Ondo Perps MSTR-USD.Plong+0.0050%1h163.47long leg$817K$4.0M10x
QFEX MSTR-USD+0.0067%1h163.75+0.171%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0071%8h163.74+0.168%$65—5xas long as short
Variational Omni MSTR+0.0091%8h163.69+0.137%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.76+0.177%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.65+0.110%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.77+0.184%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.61+0.086%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.61+0.087%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0145%8h163.66+0.116%$83K$837K10xas long as short
Binance MSTRUSDT+0.0154%8h163.85+0.232%$86.0M$619.0M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57+0.061%$1.4M$1.1M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.82+0.213%$266K$445K10xas long as short
Nado MSTR-PERP+0.0240%1h163.53+0.038%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0255%1h163.75+0.171%$54.5M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.62+0.092%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0314%8h163.83+0.220%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78+0.190%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0667%1h163.66+0.116%$278K$438K10xas long as short
edgeX MSTRUSDC+0.0686%4h163.69+0.135%$48K$5.4M10xas long as short