Funding you earn now, next payment 03:00 UTC+0.0794%/8h= +86.9% APRnext payment +$0.99 per $10,000 · paid last 24h +0.195%
Price spread now: Deribit against Ondo Perps+0.213%7-day average +0.148% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)+0.458%+$46 on $10k
+Price spread, last 4 days (all we have)−0.453%−$45 · spread now +0.213%, 7d avg +0.148%
=Together, before fees+0.004%+ Points / potential airdropOndo Perps: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Deribit is 0.065% dearer against Ondo Perps than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.148%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSTR-USD.P | 164.35 | 0.0050 | pay 0.0006% / 1h | 33m 27s | $855K | $4.2M | 10x |
| Short | Deribit MSTR_USDC-PERPETUAL | 164.70 | 0.0844 | get 0.0106% / 1h | 33m 27s | $280K | $438K | 10x |
Ondo Perps MSTR-USD.P
Deribit MSTR_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $166.67
- Price spread: +0.213% → +0.148%
- $6.45
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $161.13
- Costs to cover
- 0.120%
- Break-even
- 0.2 days
Slippage unknown: Ondo Perps: no order-book sample; Deribit: live order book, 30 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 Deribit live order book, 30 min ago | 5.77 bp | 11.1 bp −$11 | 13.2 bp −$132 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSTRUSDT | −0.1263% | 8h | 164.84 | +0.298% | $27.7M | $114.3M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.58 | +0.138% | $1.8M | $8.4M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 164.72 | +0.225% | $20.9M | $99.5M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.86 | +0.310% | $4.6M | $18.5M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.63 | +0.170% | $2.8M | $71K | 10x | as long as short |
| Variational Omni MSTR | +0.0029% | 8h | 164.54 | +0.117% | $1.2M | $2.1M | — | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.59 | +0.146% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.53 | +0.110% | $594K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.036% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.55 | +0.122% | $26K | $112K | 10x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Gate MSTR_USDT
Phemex MSTRUSDT
Variational Omni MSTR
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.58 | +0.140% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.65 | +0.183% | $384K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.66 | +0.189% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.Plong | +0.0050% | 1h | 164.35 | long leg | $855K | $4.2M | 10x | |
| QFEX MSTR-USD | +0.0060% | 1h | 164.72 | +0.225% | $1.4M | $7.6M | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0079% | 1h | 164.62 | +0.164% | $55.0M | $36.6M | 10x | as long as short |
| Binance MSTRUSDT | +0.0097% | 8h | 164.79 | +0.268% | $88.3M | $618.5M | 50x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.72 | +0.223% | $101K | $84K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.60 | +0.152% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.51 | +0.097% | $4K | $184K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.74 | +0.237% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.75 | +0.242% | $137 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0146% | 8h | 164.67 | +0.193% | $66 | — | 5x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0164% | 8h | 164.63 | +0.171% | $77K | $763K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0200% | 1h | 164.09 | −0.158% | $1.4M | $1.1M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0215% | 8h | 164.57 | +0.134% | $1.0M | $1.9M | 20x | as long as short |
| Nado MSTR-PERP | +0.0221% | 1h | 164.53 | +0.107% | $122K | $149K | 3x | as long as short |
| RISEx MSTR/USDC | +0.0291% | 1h | 164.75 | +0.246% | $270K | $447K | 10x | as long as short |
| Phoenix MSTR | +0.0336% | 1h | 164.64 | +0.178% | $56K | $227K | 10x | as long as short |
| Bybit MSTRUSDT | +0.0350% | 8h | 164.84 | +0.298% | $17.2M | $40.7M | 50x | as long as short |
| edgeX MSTRUSDC | +0.0681% | 4h | 164.52 | +0.105% | $49K | $5.4M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUALshort | +0.0844% | 1h | 164.70 | +0.213% | $280K | $438K | 10x |
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
QFEX MSTR-USD
tradeXYZ xyz:MSTR
Binance MSTRUSDT
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
BloFin MSTR-USDT
Nado MSTR-PERP
RISEx MSTR/USDC
Phoenix MSTR
Bybit MSTRUSDT
edgeX MSTRUSDC