Funding you earn now, next payment 22:00 UTC+0.0231%/8h= +25.3% APRpaid last 24h +0.080%
Price spread now: Phoenix against Phemex+0.097%7-day average −0.028% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.490%+$49 on $10k
+Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.097%, 7d avg −0.028%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.125% dearer against Phemex than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.028%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSTRUSDT | 168.85 | 0 | get 0.0000% / 4h | 1h 28m | $2.9M | $61K | 10x |
| Short | Phoenix MSTR | 169.01 | 0.0231 | get 0.0029% / 1h | 28m 37s | $57K | $394K | 10x |
Phemex MSTRUSDT
Phoenix MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Phemex. 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
- $48.6
- Price spread: +0.097% → −0.028%
- $12.47
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $42.07
- Costs to cover
- 0.190%
- Break-even
- 0.9 days
Slippage unknown: Phemex: live order book, 5 min ago; Phoenix: live order book, 53 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 Phemex live order book, 5 min ago | 1.77 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 53 min ago | 2.77 bp | 9.5 bp −$9 | 18.9 bp −$189 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSTR-PERP | −0.0115% | 1h | 168.67 | −0.106% | $139K | $97K | 3x | as long as short |
| BloFin MSTR-USDT | −0.0002% | 8h | 168.83 | −0.012% | $1.1M | $1.8M | 20x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 168.74 | −0.065% | $1.2M | $6.2M | 50x | as long as short |
| Binance MSTRUSDT | 0.0000% | 8h | 168.83 | −0.010% | $88.2M | $629.1M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 168.84 | −0.006% | $22.0M | $106.7M | 50x | as long as short |
| RISEx MSTR/USDC | 0.0000% | 1h | 168.82 | −0.016% | $275K | $446K | 10x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 168.78 | −0.041% | $4.8M | $19.4M | 50x | as long as short |
| Variational Omni MSTR | 0.0000% | 8h | 168.91 | +0.035% | $1.2M | $2.4M | — | as long as short |
| GRVT MSTR_USDT_Perp | 0.0000% | 8h | 168.72 | −0.078% | $83K | $935K | 10x | as long as short |
| Phemex MSTRUSDTlong | 0.0000% | 4h | 168.85 | long leg | $2.9M | $61K | 10x |
Nado MSTR-PERP
BloFin MSTR-USDT
Aster MSTRUSDT
Binance MSTRUSDT
OKX MSTR-USDT-SWAP
RISEx MSTR/USDC
Gate MSTR_USDT
Variational Omni MSTR
GRVT MSTR_USDT_PerpShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSTRUSDT | +0.0026% | 8h | 168.83 | −0.012% | $28.8M | $119.7M | 25x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 168.72 | −0.077% | $3.6M | $2.5M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 168.63 | −0.133% | $585K | $1.8M | 10x | as long as short |
| QFEX MSTR-USD | +0.0042% | 1h | 168.81 | −0.024% | $1.5M | $10.2M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 168.75 | −0.059% | — | $2.1M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 168.72 | −0.077% | $396K | $2.6M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 168.72 | −0.077% | $44K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 168.64 | −0.124% | $741K | $5.2M | 10x | as long as short |
| Bybit MSTRUSDT | +0.0053% | 8h | 168.81 | −0.024% | $15.1M | $40.9M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0056% | 1h | 168.66 | −0.113% | $1.5M | $1.2M | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0065% | 1h | 168.75 | −0.059% | $56.8M | $38.0M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0069% | 8h | 168.73 | −0.073% | $67 | — | 5x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 168.76 | −0.055% | $103K | $114K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 168.74 | −0.065% | $2.6M | $2.8M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 169.03 | +0.107% | $4K | $552K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 168.75 | −0.059% | $3K | $12K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 168.73 | −0.072% | $140 | — | 10x | as long as short |
| Phoenix MSTRshort | +0.0231% | 1h | 169.01 | +0.097% | $57K | $394K | 10x | |
| edgeX MSTRUSDC | +0.0278% | 4h | 169.05 | +0.117% | $47K | $5.4M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0333% | 1h | 169.29 | +0.261% | $13K | $22K | 30x | as long as short |
| Arcus MSTR-USD | +0.0457% | 1h | 168.86 | +0.006% | $27K | $129K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0639% | 1h | 168.84 | −0.006% | $287K | $439K | 10x | as long as short |
Bitget MSTRUSDT
Lighter MSTR
Extended MSTR_24_5-USD
QFEX MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
Bybit MSTRUSDT
Coinbase International MSTR-PERP-INTX
tradeXYZ xyz:MSTR
Paradex MSTR-USD-PERP
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
edgeX MSTRUSDC
Injective MSTR/USDC PERP
Arcus MSTR-USD
Deribit MSTR_USDC-PERPETUAL