MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0059%/8h= −6.5% APRnext payment −$0.07 per $10,000 · paid last 24h −0.044%

Price spread now: Coinbase International against tradeXYZ−0.158%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on tradeXYZ Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.158%, 7d avg −0.034%

Together, before fees+0.143%+ Points / potential airdroptradeXYZ: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.125% cheaper against tradeXYZ than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	164.38	0.0227	pay 0.0028% / 1h	14m 05s	$54.8M	$37.0M	10x
Short	Coinbase International MSTR-PERP-INTX	164.12	0.0168	get 0.0021% / 1h	14m 05s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against tradeXYZ. 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 tradeXYZbpFee Coinbase InternationalbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$12.41
Price spread: −0.158% → −0.034%: −$12.45
Slippage, 4 orders: −$15.05
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$67.91
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 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 tradeXYZ live order book, 4 min ago	0.61 bp	10.0 bp −$10	12.6 bp −$126	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	5.78 bp	10.8 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
Bitget MSTRUSDT	−0.0944%	8h	164.60	+0.134%	$27.8M	$115.1M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.46	+0.049%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.48	+0.061%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.45	+0.043%	$2.8M	$74K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0009%	8h	164.46	+0.049%	$20.6M	$99.5M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.37	−0.006%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.27	−0.067%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.017%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.50	+0.073%	$267K	$448K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.52	+0.085%	$26K	$109K	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	164.33	−0.030%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.41	+0.018%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.43	+0.030%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.28	−0.061%	$856K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.48	+0.061%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0077%	8h	164.39	+0.004%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.45	+0.041%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.38	0.000%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.38	0.000%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.44	+0.037%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.45	+0.041%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0133%	8h	164.48	+0.058%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0140%	8h	164.47	+0.055%	$87.3M	$615.9M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0160%	8h	164.59	+0.127%	$76K	$780K	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	164.12	−0.158%	$1.4M	$1.1M	10x
Phoenix MSTR	+0.0213%	1h	164.27	−0.066%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTRlong	+0.0227%	1h	164.38	long leg	$54.8M	$37.0M	10x
Nado MSTR-PERP	+0.0241%	1h	164.39	+0.007%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0260%	8h	164.48	+0.061%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0350%	8h	164.49	+0.067%	$17.0M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0602%	1h	164.46	+0.049%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0731%	4h	164.47	+0.056%	$49K	$5.4M	10x	as long as short