MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0548%/8h= +60.0% APRnext payment +$0.68 per $10,000 · paid last 24h +0.080%

Price spread now: RISEx against Polymarket Perps+0.048%52s7-day average +0.042% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.263% of the position

Long on Polymarket Perps Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.169%+$17 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now +0.048%, 7d avg +0.042%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.169% in total (about 16.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.68 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	166.23	0.0050	pay 0.0006% / 1h	17m 36s	$384K	$2.4M	10x
Short	RISEx MSTR/USDC	166.31	0.0598	get 0.0075% / 1h	17m 36s	$274K	$353K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.048%Rate

Funding earned: $115.04
Price spread: +0.048% → +0.042%: $0.63
Slippage, 4 orders: −$12.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: $89.36
Costs to cover: 0.263%
Break-even: 1.6 days

Slippage from Polymarket Perps: live order book, 4 min ago; RISEx: live order book, 33 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, 4 min ago	2.71 bp	6.7 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit
Sell RISEx live order book, 33 min ago	2.42 bp	5.4 bp −$5	6.2 bp −$62	doesn't fit	doesn't fit

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	166.34	+0.066%	$4.9M	$18.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.33	+0.060%	$32.0M	$107.3M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.32	+0.054%	$2.8M	$85K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.12	−0.069%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.43	+0.120%	—	$1.7M	25x	as long as short
Lighter MSTR	+0.0048%	1h	166.26	+0.018%	$3.5M	$1.8M	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	166.23	long leg	$384K	$2.4M	10x
SoDEX MSTR-USD	+0.0050%	1h	166.25	+0.012%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.89	−0.205%	$883K	$3.3M	10x	as long as short
QFEX MSTR-USD	+0.0076%	1h	166.25	+0.012%	$1.3M	$6.3M	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	166.28	+0.029%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	166.21	−0.012%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.13	−0.060%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.92	−0.186%	$6K	$162K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.26	+0.018%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.27	+0.023%	$138	—	10x	as long as short
Nado MSTR-PERP	+0.0105%	1h	166.21	−0.013%	$127K	$133K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	165.78	−0.271%	$1.4M	$399K	10x	as long as short
Aster MSTRUSDT	+0.0199%	8h	166.22	−0.006%	$1.8M	$7.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0258%	1h	166.31	+0.048%	$54.9M	$34.7M	10x	as long as short
Bybit MSTRUSDT	+0.0258%	8h	166.34	+0.066%	$17.2M	$38.7M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0271%	8h	166.31	+0.048%	$21.6M	$86.6M	50x	as long as short
Variational Omni MSTR	+0.0287%	8h	166.04	−0.114%	$1.2M	$1.7M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.15	−0.049%	$56K	$217K	10x	as long as short
Binance MSTRUSDT	+0.0382%	8h	166.32	+0.054%	$87.1M	$552.1M	50x	as long as short
edgeX MSTRUSDC	+0.0405%	4h	166.10	−0.078%	$50K	$5.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0431%	8h	166.16	−0.045%	$78K	$842K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	165.22	−0.608%	$7K	$28K	30x	as long as short
BloFin MSTR-USDT	+0.0499%	8h	166.11	−0.072%	$1.1M	$2.0M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0532%	1h	166.30	+0.042%	$283K	$224K	10x	as long as short
RISEx MSTR/USDCshort	+0.0598%	1h	166.31	+0.048%	$274K	$353K	10x
Arcus MSTR-USD	+0.0942%	1h	166.36	+0.078%	$26K	$71K	10x	as long as short