MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0257%/8h= +28.2% APRnext payment +$0.32 per $10,000 · paid last 24h +0.050%

Price spread now: Phoenix against SoDEX−0.050%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.050% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSTR-USD	165.65	0.0079	pay 0.0010% / 1h	11m 14s	$44K	$3K	10x
Short	Phoenix MSTR	165.57	0.0336	get 0.0042% / 1h	11m 14s	$56K	$227K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now −0.050%Rate

Funding earned: $54.03
Price spread: −0.050% → 0.000%: −$5.01
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $34.02
Costs to cover: 0.150%
Break-even: 2.6 days

Slippage unknown: SoDEX: no order-book sample; Phoenix: live order book, 48 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 48 min ago	3.89 bp	12.0 bp −$12	25.2 bp −$252	doesn't fit	doesn't fit

SoDEX: 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 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	−0.0917%	8h	165.80	+0.091%	$27.8M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.56	−0.053%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.74	+0.054%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.79	+0.085%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0003%	8h	165.76	+0.066%	$20.8M	$100.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.66	+0.006%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.60	−0.027%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.228%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.67	+0.014%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.57	−0.048%	$27K	$110K	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	165.73	+0.048%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.57	−0.048%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.61	−0.024%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.38	−0.163%	$882K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.57	−0.048%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USDlong	+0.0079%	1h	165.65	long leg	$44K	$3K	10x
Pacifica MSTR	+0.0100%	1h	165.55	−0.063%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.54	−0.066%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.39	−0.157%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.73	+0.048%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.73	+0.049%	$138	—	10x	as long as short
Binance MSTRUSDT	+0.0109%	8h	165.79	+0.083%	$88.3M	$616.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0133%	8h	165.53	−0.070%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0163%	8h	165.50	−0.088%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.085%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0216%	1h	165.44	−0.125%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0229%	8h	165.79	+0.085%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.62	−0.019%	$271K	$447K	10x	as long as short
Phoenix MSTRshort	+0.0336%	1h	165.57	−0.050%	$56K	$227K	10x
Bybit MSTRUSDT	+0.0349%	8h	165.81	+0.097%	$17.3M	$40.6M	50x	as long as short
edgeX MSTRUSDC	+0.0721%	4h	165.59	−0.035%	$51K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0897%	1h	165.77	+0.072%	$282K	$438K	10x	as long as short