MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0038%/8h= +4.1% APRnext payment +$0.05 per $10,000 · paid last 24h +0.010%

Price spread now: Coinbase International against Ondo Perps+0.174%7-day average +0.039% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 3 days (all we have)−0.165%−$16 · spread now +0.174%, 7d avg +0.039%

Together, before fees−0.023%+ Points / potential airdropOndo Perps: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.135% dearer against Ondo Perps than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MSTR-USD.P	166.72	0.0050	pay 0.0006% / 1h	6m 57s	$763K	$4.8M	10x
Short	Coinbase International MSTR-PERP-INTX	167.01	0.0088	get 0.0011% / 1h	6m 57s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now +0.174%Rate

Funding earned: $7.9
Price spread: +0.174% → +0.039%: $13.46
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $6.35
Costs to cover: 0.150%
Break-even: 1.4 days

Slippage unknown: Ondo Perps: no order-book sample; Coinbase International: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Ondo Perps no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 2 min ago	2.70 bp	8.6 bp −$9	16.5 bp −$165	doesn't fit	doesn'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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSTR_USDT	−0.0174%	8h	166.80	+0.048%	$4.7M	$19.2M	50x	as long as short
BloFin MSTR-USDT	−0.0014%	8h	166.79	+0.042%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	166.86	+0.081%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.75	+0.018%	$21.5M	$99.5M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.82	+0.060%	$27.7M	$113.7M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	167.37	+0.388%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	167.28	+0.339%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.13	+0.246%	$2.8M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0004%	8h	166.80	+0.048%	$87.6M	$614.0M	50x	as long as short
Lighter MSTR	+0.0032%	1h	166.74	+0.012%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	166.63	−0.051%	$575K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.79	+0.042%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.31	+0.354%	$27K	$115K	10x	as long as short
Nado MSTR-PERP	+0.0045%	1h	166.68	−0.026%	$135K	$128K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.66	−0.036%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.69	−0.018%	$391K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.79	+0.042%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Plong	+0.0050%	1h	166.72	long leg	$763K	$4.8M	10x
Coinbase International MSTR-PERP-INTXshort	+0.0088%	1h	167.01	+0.174%	$1.4M	$1.1M	10x
Pacifica MSTR	+0.0100%	1h	166.83	+0.064%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.82	+0.060%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.13	+0.246%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.84	+0.072%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.81	+0.053%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0107%	8h	166.75	+0.016%	$67	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.571%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0237%	1h	166.78	+0.036%	$56.4M	$35.8M	10x	as long as short
Bybit MSTRUSDT	+0.0238%	8h	166.84	+0.072%	$15.9M	$39.5M	50x	as long as short
Phoenix MSTR	+0.0259%	1h	167.42	+0.420%	$56K	$384K	10x	as long as short
edgeX MSTRUSDC	+0.0265%	4h	167.38	+0.397%	$43K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.83	+0.064%	$272K	$433K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0650%	1h	166.84	+0.072%	$284K	$438K	10x	as long as short