MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0309%/8h= +33.9% APRnext payment +$3.09 per $10,000 · paid last 24h +0.002%

Price spread now: Bybit against Variational Omni+0.136%7-day average −0.022% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 7 days−0.140%−$14 · spread now +0.136%, 7d avg −0.022%

Together, before fees−0.041%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.158% dearer against Variational Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.022%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.099% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.09 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	165.48	0.0038	pay 0.0038% / 8h	5h 16m	$1.2M	$2.1M	—
Short	Bybit MSTRUSDT	165.71	0.0348	get 0.0348% / 8h	5h 16m	$17.3M	$40.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now +0.136%Rate

Funding earned: $64.95
Price spread: +0.136% → −0.022%: $15.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $69.78
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 3 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 Variational Omni RFQ quote, 3 min ago	2.96 bp	doesn't fit	15.3 bp −$153	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.60 bp	8.3 bp −$8	13.9 bp −$139	125.8 bp −$12.6K	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	−0.0998%	8h	165.73	+0.148%	$27.7M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.48	−0.002%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.63	+0.088%	$20.8M	$100.2M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.65	+0.100%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.60	+0.070%	$2.8M	$72K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.58	+0.058%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.46	−0.012%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.330%	$8K	$26K	30x	as long as short
Variational Omni MSTRlong	+0.0038%	8h	165.48	long leg	$1.2M	$2.1M	—
Arcus MSTR-USD	+0.0040%	1h	165.48	−0.003%	$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	165.67	+0.112%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.51	+0.015%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.32	−0.099%	$882K	$4.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0058%	1h	165.48	−0.003%	$55.1M	$36.8M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.56	+0.046%	$1.4M	$7.5M	10x	as long as short
edgeX MSTRUSDC	+0.0087%	4h	165.50	+0.010%	$51K	$5.4M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.52	+0.020%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.55	+0.040%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.44	−0.027%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.61	+0.076%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.61	+0.078%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0105%	8h	165.66	+0.106%	$88.3M	$616.6M	50x	as long as short
SoDEX MSTR-USD	+0.0122%	1h	165.63	+0.088%	$44K	$3K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	165.56	+0.045%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0164%	8h	165.56	+0.043%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	+0.015%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	165.48	−0.001%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0224%	8h	165.52	+0.022%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.63	+0.085%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.50	+0.006%	$56K	$227K	10x	as long as short
Bybit MSTRUSDTshort	+0.0348%	8h	165.71	+0.136%	$17.3M	$40.6M	50x
Deribit MSTR_USDC-PERPETUAL	+0.0777%	1h	165.68	+0.118%	$282K	$438K	10x	as long as short