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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0224%/8h= −24.6% APRnext payment −$0.28 per $10,000 · paid last 24h −0.046%
Price spread now: Extended against tradeXYZ−0.040%7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$350.351% of the position
Long on tradeXYZShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days−0.056%−$6 on $10k
Price spread, last 7 days+0.016%+$2 · spread now −0.040%, 7d avg −0.019%
Together, before fees−0.040%+ Points / potential airdroptradeXYZ: Active · Extended: Active · farm board−$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Extended is 0.020% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.019%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.056% in total (about -2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongtradeXYZ xyz:MSTR163.670.0256pay 0.0032% / 1h18m 18s$54.2M$37.2M10x
ShortExtended MSTR_24_5-USD163.600.0032get 0.0004% / 1h18m 18s$511K$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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

Funding earned
−$47.1
Price spread: −0.040% → −0.019%
−$2.03
Slippage, 4 orders
−$12.1
Fee tradeXYZ: 9 bp × 2 orders
−$18
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$84.23
Costs to cover
0.351%
Break-even
never at this rate
Slippage from tradeXYZ: live order book, 11 min ago; Extended: live order book, 5 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 tradeXYZ live order book, 11 min ago0.31 bp11.0 bp −$1113.7 bp −$137doesn't fitdoesn't fit
Sell Extended live order book, 5 min ago2.45 bp8.2 bp −$834.4 bp −$344doesn'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−0.0798%8h163.94+0.165%$29.0M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.80+0.079%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.91+0.147%$2.8M$79K10xas long as short
Extended MSTR_24_5-USDshort+0.0032%1h163.60−0.040%$511K$2.0M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.464%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.73+0.037%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.670.000%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.66−0.006%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.54−0.079%$840K$3.9M10xas long as short
Aster MSTRUSDT+0.0054%8h163.66−0.005%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.72+0.031%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.75+0.047%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.61−0.037%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.62−0.031%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.78+0.067%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.79+0.075%$136—10xas long as short
Lighter MSTR+0.0136%1h163.74+0.043%$3.5M$2.0M10xas long as short
SoDEX MSTR-USD+0.0141%1h163.75+0.049%$43K$3K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.314%$1.4M$1.1M10xas long as short
OKX MSTR-USDT-SWAP+0.0165%8h163.81+0.086%$20.8M$100.8M50xas long as short
Variational Omni MSTR+0.0166%8h163.76+0.053%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0170%8h163.69+0.011%$65—5xas long as short
Binance MSTRUSDT+0.0250%8h163.77+0.061%$84.0M$627.2M50xas long as short
tradeXYZ xyz:MSTRlong+0.0256%1h163.67long leg$54.2M$37.2M10x
GRVT MSTR_USDT_Perp+0.0259%8h163.42−0.153%$83K$878K10xas long as short
Phoenix MSTR+0.0328%1h163.43−0.147%$55K$223K10xas long as short
Nado MSTR-PERP+0.0367%1h163.60−0.046%$131K$157K3xas long as short
BloFin MSTR-USDT+0.0370%8h163.75+0.049%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.81+0.082%$266K$427K10xas long as short
Bybit MSTRUSDT+0.0392%8h163.80+0.079%$17.2M$42.0M50xas long as short
edgeX MSTRUSDC+0.0831%4h163.42−0.152%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0850%1h163.82+0.092%$279K$437K10xas long as short