Funding you earn now, next payment 23:00 UTC−0.0156%/8h= −17.1% APRnext payment −$0.20 per $10,000 · paid last 24h −0.024%
Price spread now: Injective against Phoenix−0.336%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.266%−$27 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Injective is 0.336% cheaper against Phoenix than usual: you would sell low and buy high (−$34 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSTR | 169.45 | 0.0260 | pay 0.0033% / 1h | 0m 26s | $57K | $392K | 10x |
| Short | Injective MSTR/USDC PERP | 168.88 | 0.0104 | get 0.0013% / 1h | 0m 26s | $13K | $21K | 30x |
Phoenix MSTR
Injective MSTR/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phoenix. 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
- −$32.84
- Price spread: −0.336% → 0.000%
- −$33.58
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$73.44
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 11 min ago; Injective: no order-book sample. 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 Phoenix live order book, 11 min ago | 3.91 bp | 12.0 bp −$12 | 25.2 bp −$252 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSTR-PERP | −0.0044% | 1h | 169.42 | −0.019% | $140K | $97K | 3x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 169.26 | −0.112% | $1.3M | $6.1M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 169.55 | +0.060% | $21.9M | $106.4M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 169.48 | +0.018% | $4.7M | $19.6M | 50x | as long as short |
| Variational Omni MSTR | 0.0000% | 8h | 169.44 | −0.004% | $1.2M | $2.4M | — | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 169.31 | −0.082% | $2.9M | $66K | 10x | as long as short |
| RISEx MSTR/USDC | +0.0001% | 1h | 169.53 | +0.048% | $276K | $441K | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0030% | 8h | 169.13 | −0.188% | $77K | $871K | 10x | as long as short |
| Bitget MSTRUSDT | +0.0031% | 8h | 169.55 | +0.060% | $28.8M | $119.8M | 25x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 169.47 | +0.012% | $3.6M | $2.4M | 10x | as long as short |
Nado MSTR-PERP
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Gate MSTR_USDT
Variational Omni MSTR
Phemex MSTRUSDT
RISEx MSTR/USDC
GRVT MSTR_USDT_Perp
Bitget MSTRUSDT
Lighter MSTRShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended MSTR_24_5-USD | +0.0032% | 1h | 169.40 | −0.032% | $581K | $1.8M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0037% | 8h | 169.60 | +0.089% | $1.1M | $1.9M | 20x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 169.69 | +0.142% | — | $2.1M | 25x | as long as short |
| QFEX MSTR-USD | +0.0049% | 1h | 169.50 | +0.030% | $1.5M | $10.2M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 169.47 | +0.012% | $400K | $2.8M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 169.51 | +0.036% | $45K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 169.23 | −0.129% | $764K | $5.2M | 10x | as long as short |
| Bybit MSTRUSDT | +0.0061% | 8h | 169.58 | +0.077% | $15.2M | $40.3M | 50x | as long as short |
| Binance MSTRUSDT | +0.0062% | 8h | 169.60 | +0.089% | $89.5M | $628.5M | 50x | as long as short |
| Paradex MSTR-USD-PERP | +0.0094% | 8h | 169.47 | +0.010% | $68 | — | 5x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0096% | 1h | 168.75 | −0.413% | $1.4M | $1.2M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 169.53 | +0.046% | $105K | $87K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 169.36 | −0.053% | $2.5M | $2.8M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 169.15 | −0.176% | $4K | $224K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 169.51 | +0.036% | $3K | $10K | 10x | as long as short |
| Injective MSTR/USDC PERPshort | +0.0104% | 1h | 168.88 | −0.336% | $13K | $21K | 30x | |
| Aevo MSTR-PERP | +0.0104% | 1h | 169.34 | −0.063% | $141 | — | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0123% | 1h | 169.50 | +0.030% | $57.3M | $36.9M | 10x | as long as short |
| Phoenix MSTRlong | +0.0260% | 1h | 169.45 | long leg | $57K | $392K | 10x | |
| Deribit MSTR_USDC-PERPETUAL | +0.0458% | 1h | 169.54 | +0.054% | $288K | $438K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0628% | 4h | 169.42 | −0.017% | $48K | $5.5M | 10x | as long as short |
| Arcus MSTR-USD | +0.0738% | 1h | 169.57 | +0.071% | $27K | $129K | 10x | as long as short |
Extended MSTR_24_5-USD
BloFin MSTR-USDT
Vest MSTR-USD-PERP
QFEX MSTR-USD
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
Bybit MSTRUSDT
Binance MSTRUSDT
Paradex MSTR-USD-PERP
Coinbase International MSTR-PERP-INTX
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
tradeXYZ xyz:MSTR
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC
Arcus MSTR-USD