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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h 0.000%
Price spread now: Extended against Polymarket Perps+0.019%49s7-day average −0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as 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−$320.322% of the position
Long on Polymarket PerpsShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days+0.004%$0 on $10k
Price spread, last 7 days−0.006%−$1 · spread now +0.019%, 7d avg −0.015%
Together, before fees−0.003%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Extended is 0.034% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.015%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.3 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps MSTR-USD163.740.0050pay 0.0006% / 1h57m 35s$379K$2.7M10x
ShortExtended MSTR_24_5-USD163.770.0032get 0.0004% / 1h57m 35s$592K$2.1M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Polymarket Perps. 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

Funding earned
−$3.78
Price spread: +0.019% → −0.015%
$3.4
Slippage, 4 orders
−$19.18
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$32.56
Costs to cover
0.322%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 6 min ago; Extended: live order book, 1 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 Polymarket Perps live order book, 6 min ago2.45 bp8.6 bp −$99.2 bp −$9211.6 bp −$1,161doesn't fit
Sell Extended live order book, 1 min ago3.36 bp9.3 bp −$944.2 bp −$442doesn'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−0.0356%8h164.06+0.195%$29.8M$118.9M25xas long as short
Gate MSTR_USDT0.0000%8h164.00+0.159%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.75+0.006%$2.8M$84K10xas long as short
Extended MSTR_24_5-USDshort+0.0032%1h163.77+0.019%$592K$2.1M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.420%$8K$25K30xas long as short
Lighter MSTR+0.0040%1h163.93+0.116%$3.5M$1.7M10xas long as short
Arcus MSTR-USD+0.0040%1h163.98+0.147%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.76+0.012%—$1.8M25xas long as short
Nado MSTR-PERP+0.0047%1h163.67−0.043%$125K$165K3xas long as short
Polymarket Perps MSTR-USDlong+0.0050%1h163.74long leg$379K$2.7M10x
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.96−0.476%$895K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.99+0.153%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0084%8h163.78+0.025%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.92+0.112%$101K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.77+0.018%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.16−0.354%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.83+0.055%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.80+0.039%$136—10xas long as short
Bybit MSTRUSDT+0.0105%8h163.93+0.116%$17.2M$41.6M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.684%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0129%8h163.91+0.103%$66—5xas long as short
Variational Omni MSTR+0.0202%8h163.25−0.297%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0206%8h164.02+0.171%$20.9M$100.0M50xas long as short
tradeXYZ xyz:MSTR+0.0228%1h163.91+0.104%$54.2M$37.7M10xas long as short
GRVT MSTR_USDT_Perp+0.0267%8h163.37−0.223%$80K$858K10xas long as short
Binance MSTRUSDT+0.0278%8h163.91+0.101%$84.4M$620.1M50xas long as short
Phoenix MSTR+0.0357%1h163.34−0.242%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0393%8h163.68−0.037%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0400%1h163.80+0.038%$269K$418K10xas long as short
SoDEX MSTR-USD+0.0544%1h163.78+0.024%$43K$3K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0605%1h163.87+0.079%$279K$437K10xas long as short
edgeX MSTRUSDC+0.0963%4h163.30−0.267%$46K$5.4M10xas long as short