MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0305%/8h= −33.4% APRnext payment −$0.38 per $10,000 · paid last 24h −0.069%

Price spread now: Ondo Perps against Phoenix+0.167%48s7-day average −0.126% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 4 days (all we have)−0.569%−$57 · spread now +0.167%, 7d avg −0.126%

Together, before fees−0.804%+ Points / potential airdropOndo Perps: Active · farm board−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.292% dearer against Phoenix than usual: you sell high and buy low (spread +0.167% now, against its 7-day average of −0.126%): +$29 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.234% in total) that is about 8.7 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSTR	165.61	0.0355	pay 0.0044% / 1h	20m 36s	$55K	$217K	10x
Short	Ondo Perps MSTR-USD.P	165.89	0.0050	get 0.0006% / 1h	20m 36s	$883K	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Ondo PerpsbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$63.99
Price spread: +0.167% → −0.126%: $29.23
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$46.76
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 26 min ago; Ondo Perps: 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, 26 min ago	3.92 bp	11.9 bp −$12	25.1 bp −$251	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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 exchanges

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
Gate MSTR_USDT	0.0000%	8h	166.11	+0.299%	$4.9M	$18.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.13	+0.312%	$31.9M	$108.1M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.11	+0.299%	$2.8M	$85K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.93	+0.190%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.36	+0.450%	—	$1.7M	25x	as long as short
Lighter MSTR	+0.0048%	1h	166.04	+0.257%	$3.5M	$1.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.19	+0.348%	$384K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.08	+0.281%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	165.89	+0.167%	$883K	$3.4M	10x
QFEX MSTR-USD	+0.0076%	1h	166.04	+0.257%	$1.3M	$6.4M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex MSTR-USD-PERP	+0.0096%	8h	166.07	+0.278%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.95	+0.202%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.95	+0.203%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.76	+0.088%	$6K	$167K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.09	+0.287%	$3K	$10K	10x	as long as short
Nado MSTR-PERP	+0.0104%	1h	166.10	+0.293%	$127K	$133K	3x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.06	+0.272%	$138	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	165.78	+0.100%	$1.4M	$405K	10x	as long as short
Aster MSTRUSDT	+0.0192%	8h	165.93	+0.191%	$1.8M	$7.4M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0254%	1h	166.09	+0.287%	$54.9M	$34.7M	10x	as long as short
Bybit MSTRUSDT	+0.0259%	8h	166.16	+0.330%	$17.2M	$38.8M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0266%	8h	166.16	+0.330%	$21.6M	$87.0M	50x	as long as short
Variational Omni MSTR	+0.0287%	8h	166.04	+0.258%	$1.2M	$1.7M	—	as long as short
Phoenix MSTRlong	+0.0355%	1h	165.61	long leg	$55K	$217K	10x
Binance MSTRUSDT	+0.0378%	8h	166.13	+0.309%	$87.0M	$556.2M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0397%	8h	166.07	+0.275%	$88K	$852K	10x	as long as short
edgeX MSTRUSDC	+0.0424%	4h	165.69	+0.045%	$49K	$5.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	165.22	−0.238%	$7K	$28K	30x	as long as short
BloFin MSTR-USDT	+0.0496%	8h	166.04	+0.257%	$1.1M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0598%	1h	166.12	+0.308%	$274K	$353K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0714%	1h	166.08	+0.281%	$282K	$224K	10x	as long as short
Arcus MSTR-USD	+0.0942%	1h	166.20	+0.354%	$26K	$77K	10x	as long as short