MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0350%/8h= +38.3% APRnext payment +$0.44 per $10,000 · paid last 24h +0.180%

Price spread now: Deribit against Polymarket Perps−0.053%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.413%+$41 on $10k

Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.053%, 7d avg +0.068%

Together, before fees+0.536%+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.122% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of +0.068%). If the spread goes back, that is −$12 on $10k: about 28 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	169.49	0.0050	pay 0.0006% / 1h	59m 22s	$400K	$2.8M	10x
Short	Deribit MSTR_USDC-PERPETUAL	169.40	0.0400	get 0.0050% / 1h	59m 22s	$288K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.053%Rate

Funding earned: $73.45
Price spread: −0.053% → +0.068%: −$12.16
Slippage, 4 orders: −$24.41
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $21.88
Costs to cover: 0.394%
Break-even: 4.9 days

Slippage from Polymarket Perps: live order book, 5 min ago; Deribit: live order book, 14 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	3.25 bp	9.5 bp −$9	10.4 bp −$104	12.1 bp −$1,208	doesn't fit
Sell Deribit live order book, 14 min ago	7.40 bp	11.5 bp −$11	14.6 bp −$146	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
Aster MSTRUSDT	0.0000%	8h	169.43	−0.038%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.50	+0.006%	$15.2M	$40.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.42	−0.041%	$21.9M	$105.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.42	−0.041%	$4.7M	$18.7M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.44	−0.028%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.31	−0.106%	$2.9M	$66K	10x	as long as short
Nado MSTR-PERP	+0.0027%	1h	169.51	+0.011%	$140K	$97K	3x	as long as short
Bitget MSTRUSDT	+0.0031%	8h	169.52	+0.018%	$28.7M	$117.6M	25x	as long as short
Lighter MSTR	+0.0032%	1h	169.51	+0.012%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	−0.008%	$581K	$1.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MSTR-USDT	+0.0037%	8h	169.60	+0.065%	$1.1M	$1.9M	20x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.73	+0.142%	—	$2.1M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.55	+0.037%	$77K	$871K	10x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.50	+0.006%	$1.5M	$10.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.49	0.000%	$57.2M	$36.9M	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	169.49	long leg	$400K	$2.8M	10x
SoDEX MSTR-USD	+0.0050%	1h	169.45	−0.024%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.23	−0.153%	$764K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0065%	8h	169.42	−0.041%	$89.4M	$628.7M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.437%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0093%	8h	169.54	+0.031%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.56	+0.039%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.46	−0.018%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.29	−0.118%	$4K	$223K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.40	−0.053%	$3K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.56	+0.040%	$141	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	168.88	−0.360%	$13K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.45	−0.024%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.57	+0.047%	$276K	$440K	10x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0400%	1h	169.40	−0.053%	$288K	$438K	10x
edgeX MSTRUSDC	+0.0455%	4h	169.46	−0.019%	$48K	$5.5M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.50	+0.006%	$27K	$129K	10x	as long as short