MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0150%/8h= +16.4% APRnext payment +$0.19 per $10,000 · paid last 24h +0.007%

Price spread now: Coinbase International against Polymarket Perps−0.273%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.273%, 7d avg −0.041%

Together, before fees+0.160%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.232% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.273% now, against its 7-day average of −0.041%). If the spread goes back, that is −$23 on $10k: about 5.2 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.094% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	164.54	0.0050	pay 0.0006% / 1h	34m 19s	$384K	$2.7M	10x
Short	Coinbase International MSTR-PERP-INTX	164.09	0.0200	get 0.0025% / 1h	34m 19s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now −0.273%Rate

Funding earned: $31.5
Price spread: −0.273% → −0.041%: −$23.24
Slippage, 4 orders: −$13.35
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$23.1
Costs to cover: 0.314%
Break-even: 12.1 days

Slippage from Polymarket Perps: live order book, 5 min ago; Coinbase International: live order book, 4 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 Polymarket Perps live order book, 5 min ago	2.13 bp	8.4 bp −$8	10.6 bp −$106	12.8 bp −$1,284	doesn't fit
Sell Coinbase International live order book, 4 min ago	3.05 bp	8.0 bp −$8	13.6 bp −$136	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	−0.1270%	8h	164.74	+0.122%	$27.7M	$114.3M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.45	−0.056%	$1.8M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.69	+0.091%	$20.8M	$99.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.78	+0.146%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.63	+0.055%	$2.8M	$71K	10x	as long as short
Variational Omni MSTR	+0.0029%	8h	164.54	+0.002%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.62	+0.049%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.47	−0.040%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.917%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.48	−0.036%	$26K	$112K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.47	−0.043%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	164.54	long leg	$384K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	164.66	+0.073%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.34	−0.122%	$855K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.53	−0.006%	$1.4M	$7.6M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0078%	1h	164.52	−0.012%	$55.0M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0096%	8h	164.68	+0.088%	$88.3M	$618.7M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.54	+0.003%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.52	−0.012%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.28	−0.158%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.64	+0.061%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.63	+0.058%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0144%	8h	164.53	−0.009%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0158%	8h	164.48	−0.036%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0200%	1h	164.09	−0.273%	$1.4M	$1.1M	10x
BloFin MSTR-USDT	+0.0215%	8h	164.57	+0.018%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0220%	1h	164.46	−0.046%	$122K	$149K	3x	as long as short
edgeX MSTRUSDC	+0.0283%	4h	164.31	−0.142%	$49K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.58	+0.027%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.24	−0.183%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0346%	8h	164.72	+0.109%	$17.2M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0844%	1h	164.70	+0.097%	$280K	$438K	10x	as long as short