Funding you earn now, next payment 02:00 UTC+0.0236%/8h= +25.8% APRnext payment +$0.29 per $10,000 · paid last 24h +0.057%
Price spread now: Phoenix against Pacifica+0.144%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$410.410% of the position
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 4 days (all we have)+0.429%+$43 · spread now +0.144%, 7d avg +0.026%
=Together, before fees+0.625%+ Points / potential airdropPacifica: Active · farm board+$63 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.118% dearer against Pacifica than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.026%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica MSTR | 164.11 | 0.0100 | pay 0.0013% / 1h | 41m 08s | $100K | $84K | 10x |
| Short | Phoenix MSTR | 164.35 | 0.0336 | get 0.0042% / 1h | 41m 08s | $55K | $227K | 10x |
Pacifica MSTR
Phoenix MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Pacifica. 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
- $49.53
- Price spread: +0.144% → +0.026%
- $11.79
- Slippage, 4 orders
- −$26.05
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $20.28
- Costs to cover
- 0.410%
- Break-even
- 4.1 days
Slippage from Pacifica: live order book, 21 min ago; Phoenix: live order book, 19 min ago.
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 Pacifica live order book, 21 min ago | 0.73 bp | 4.7 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 19 min ago | 3.89 bp | 12.0 bp −$12 | 25.2 bp −$252 | doesn't fit | doesn't fit |
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 | −0.1274% | 8h | 164.33 | +0.134% | $27.6M | $114.6M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.16 | +0.028% | $1.7M | $8.4M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 164.15 | +0.024% | $20.8M | $99.3M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.16 | +0.030% | $4.6M | $18.5M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.17 | +0.037% | $2.8M | $70K | 10x | as long as short |
| Variational Omni MSTR | +0.0013% | 8h | 164.02 | −0.057% | $1.2M | $2.0M | — | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.02 | −0.055% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.87 | −0.146% | $594K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.187% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.33 | +0.134% | $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 | 164.05 | −0.037% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.05 | −0.037% | $383K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.09 | −0.012% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 163.99 | −0.073% | $880K | $4.2M | 10x | as long as short |
| QFEX MSTR-USD | +0.0060% | 1h | 164.15 | +0.024% | $1.4M | $7.7M | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0082% | 1h | 164.07 | −0.024% | $54.9M | $36.6M | 10x | as long as short |
| Binance MSTRUSDT | +0.0088% | 8h | 164.09 | −0.012% | $88.0M | $619.3M | 50x | as long as short |
| Pacifica MSTRlong | +0.0100% | 1h | 164.11 | long leg | $100K | $84K | 10x | |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.01 | −0.061% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.32 | +0.128% | $4K | $184K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.10 | −0.006% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.04 | −0.046% | $136 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0141% | 8h | 164.09 | −0.012% | $66 | — | 5x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0157% | 8h | 164.40 | +0.177% | $77K | $763K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0200% | 1h | 164.09 | −0.012% | $1.4M | $1.1M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0208% | 8h | 164.17 | +0.037% | $1.0M | $1.9M | 20x | as long as short |
| Nado MSTR-PERP | +0.0216% | 1h | 164.08 | −0.017% | $122K | $149K | 3x | as long as short |
| RISEx MSTR/USDC | +0.0291% | 1h | 164.18 | +0.040% | $269K | $447K | 10x | as long as short |
| Phoenix MSTRshort | +0.0336% | 1h | 164.35 | +0.144% | $55K | $227K | 10x | |
| Bybit MSTRUSDT | +0.0339% | 8h | 164.17 | +0.037% | $17.1M | $40.7M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0604% | 1h | 164.08 | −0.018% | $279K | $438K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0772% | 4h | 164.34 | +0.143% | $49K | $5.4M | 10x | as long as short |
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
tradeXYZ xyz:MSTR
Binance MSTRUSDT
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
Bybit MSTRUSDT
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC