Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Phemex against Ondo Perps+0.208%7-day average +0.140% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.250%−$25 on $10k
+Price spread, last 4 days (all we have)−0.270%−$27 · spread now +0.208%, 7d avg +0.140%
=Together, before fees−0.521%+ Points / potential airdropOndo Perps: Active · farm board−$52 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.068% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.208% now, against its 7-day average of +0.140%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.250% in total) that is about 46 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSTR-USD.P | 163.71 | 0.0050 | pay 0.0006% / 1h | 50m 35s | $830K | $3.9M | 10x |
| Short | Phemex MSTRUSDT | 164.05 | 0 | get 0.0000% / 4h | 2h 50m | $2.8M | $77K | 10x |
Ondo Perps MSTR-USD.P
Phemex MSTRUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$10.58
- Price spread: +0.208% → +0.140%
- $6.79
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$20.79
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago | 1.22 bp | doesn't fit | doesn't fit | 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 | −0.0976% | 8h | 164.02 | +0.189% | $27.1M | $116.9M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 163.84 | +0.081% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.97 | +0.159% | $4.6M | $19.2M | 50x | as long as short |
| Phemex MSTRUSDTshort | 0.0000% | 4h | 164.05 | +0.208% | $2.8M | $77K | 10x | |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.68 | −0.021% | $596K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.439% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.85 | +0.086% | $26K | $109K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.54 | −0.104% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.75 | +0.024% | $379K | $2.7M | 10x | as long as short |
| Ondo Perps MSTR-USD.Plong | +0.0050% | 1h | 163.71 | long leg | $830K | $3.9M | 10x |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | +0.0054% | 1h | 163.84 | +0.079% | $1.4M | $7.2M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0062% | 8h | 163.92 | +0.128% | $20.6M | $99.5M | 50x | as long as short |
| SoDEX MSTR-USD | +0.0071% | 1h | 163.85 | +0.086% | $43K | $3K | 10x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 163.91 | +0.122% | $266K | $446K | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.84 | +0.082% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.72 | +0.006% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.59 | −0.073% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.83 | +0.073% | $4K | $8K | 10x | as long as short |
| Variational Omni MSTR | +0.0103% | 8h | 163.88 | +0.102% | $1.2M | $2.1M | — | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.85 | +0.084% | $136 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0110% | 8h | 163.84 | +0.077% | $66 | — | 5x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0160% | 8h | 163.86 | +0.092% | $79K | $838K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.57 | −0.086% | $1.4M | $1.1M | 10x | as long as short |
| Binance MSTRUSDT | +0.0171% | 8h | 163.92 | +0.126% | $85.8M | $619.5M | 50x | as long as short |
| Lighter MSTR | +0.0208% | 1h | 163.82 | +0.067% | $3.5M | $1.9M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0287% | 8h | 163.93 | +0.134% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0331% | 8h | 163.98 | +0.165% | $16.7M | $41.2M | 50x | as long as short |
| Nado MSTR-PERP | +0.0338% | 1h | 163.66 | −0.033% | $121K | $148K | 3x | as long as short |
| tradeXYZ xyz:MSTR | +0.0356% | 1h | 163.83 | +0.073% | $54.5M | $37.1M | 10x | as long as short |
| Phoenix MSTR | +0.0362% | 1h | 163.69 | −0.011% | $56K | $226K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0496% | 4h | 163.67 | −0.026% | $48K | $5.4M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.1155% | 1h | 163.88 | +0.104% | $279K | $438K | 10x | as long as short |
QFEX MSTR-USD
OKX MSTR-USDT-SWAP
SoDEX MSTR-USD
RISEx MSTR/USDC
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Variational Omni MSTR
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
Binance MSTRUSDT
Lighter MSTR
BloFin MSTR-USDT
Bybit MSTRUSDT
Nado MSTR-PERP
tradeXYZ xyz:MSTR
Phoenix MSTR
edgeX MSTRUSDC
Deribit MSTR_USDC-PERPETUAL