Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

MSTR

RWAall MSTR markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 04:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.21 per $10,000 · paid last 24h −0.060%
Price spread now: Coinbase International against Phoenix−0.034%72s7-day average −0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$420.420% of the position
Long on PhoenixShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days−0.097%−$10 on $10k
Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.034%, 7d avg −0.078%
Together, before fees−0.132%−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.044% dearer against Phoenix than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.078%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.097% in total) that is about 3.1 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix MSTR163.630.0340pay 0.0042% / 1h55m 40s$56K$226K10x
ShortCoinbase International MSTR-PERP-INTX163.570.0168get 0.0021% / 1h55m 40s$1.4M$1.1M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$36.1
Price spread: −0.034% → −0.078%
$4.37
Slippage, 4 orders
−$25
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$73.73
Costs to cover
0.420%
Break-even
never at this rate
Slippage from Phoenix: live order book, 54 min ago; Coinbase International: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 54 min ago3.65 bp11.4 bp −$1123.7 bp −$237doesn't fitdoesn't fit
Sell Coinbase International live order book, 3 min ago4.28 bp9.3 bp −$914.4 bp −$144doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0986%8h163.83+0.125%$27.0M$116.9M25xas long as short
Aster MSTRUSDT0.0000%8h163.68+0.030%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.72+0.057%$4.6M$19.1M50xas long as short
Phemex MSTRUSDT0.0000%4h164.00+0.229%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.44−0.111%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.492%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.75+0.076%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.43−0.120%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.64+0.009%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.72+0.057%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX MSTR-USDT-SWAP+0.0050%8h163.63+0.002%$20.7M$99.0M50xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.65+0.015%$817K$3.9M10xas long as short
QFEX MSTR-USD+0.0054%1h163.65+0.015%$1.4M$7.2M10xas long as short
Lighter MSTR+0.0056%1h163.59−0.022%$3.5M$1.9M10xas long as short
Paradex MSTR-USD-PERP+0.0085%8h163.59−0.022%$65—5xas long as short
RISEx MSTR/USDC+0.0088%1h163.63+0.002%$265K$446K10xas long as short
Variational Omni MSTR+0.0094%8h163.78+0.095%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.65+0.015%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.58−0.028%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.44−0.114%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.73+0.064%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.75+0.075%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0148%8h163.74+0.069%$83K$824K10xas long as short
Binance MSTRUSDT+0.0160%8h163.65+0.015%$85.8M$619.3M50xas long as short
Coinbase International MSTR-PERP-INTXshort+0.0168%1h163.57−0.034%$1.4M$1.1M10x
edgeX MSTRUSDC+0.0248%4h163.64+0.007%$48K$5.4M10xas long as short
BloFin MSTR-USDT+0.0278%8h163.79+0.100%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0288%1h163.61−0.007%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0290%1h163.66+0.021%$54.5M$37.1M10xas long as short
Bybit MSTRUSDT+0.0319%8h163.75+0.076%$16.6M$41.2M50xas long as short
Phoenix MSTRlong+0.0340%1h163.63long leg$56K$226K10x
Deribit MSTR_USDC-PERPETUAL+0.0850%1h163.78+0.094%$279K$438K10xas long as short