MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0735%/8h= +80.5% APRnext payment +$0.92 per $10,000 · paid last 24h +0.203%

Price spread now: Deribit against Vest+0.146%48s7-day average +0.981% · you sell dearer than you buy

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

Long on Vest Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.503%+$50 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now +0.146%, 7d avg +0.981%

Together, before fees+0.563%+ Points / potential airdropVest: Active · farm board+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.836% cheaper against Vest than usual: you would sell low and buy high (spread +0.146% now, against its 7-day average of +0.981%). If the spread goes back, that is −$84 on $10k: about 3.8 days of funding at the current rate (+$22 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSTR-USD-PERP	164.79	0.0046	pay 0.0006% / 1h	21m 27s	—	$1.8M	25x
Short	Deribit MSTR_USDC-PERPETUAL	165.03	0.0781	get 0.0098% / 1h	21m 27s	$281K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee DeribitbpOrdersPrice spread, now +0.146%Rate

Funding earned: $154.46
Price spread: +0.146% → +0.981%: −$83.58
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $61.88
Costs to cover: 0.090%
Break-even: 4.2 days

Slippage unknown: Vest: no order-book sample; Deribit: live order book, 47 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 Vest no order-book sample	—	—	—	—	—
Sell Deribit live order book, 47 min ago	7.19 bp	10.7 bp −$11	12.3 bp −$123	doesn't fit	doesn't fit

Vest: 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 31 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	−0.1036%	8h	164.89	+0.061%	$27.5M	$115.6M	25x	as long as short
Gate MSTR_USDT	−0.0169%	8h	164.78	−0.006%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.78	−0.007%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.76	−0.018%	$20.9M	$100.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.77	−0.012%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	165.11	+0.193%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.03	+0.146%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.57	−0.134%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.98	+0.115%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	164.79	long leg	—	$1.8M	25x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.72	−0.042%	$910K	$4.6M	10x	as long as short
Binance MSTRUSDT	+0.0060%	8h	164.69	−0.063%	$87.8M	$624.3M	50x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.76	−0.018%	$1.4M	$8.3M	10x	as long as short
Lighter MSTR	+0.0080%	1h	164.67	−0.073%	$3.5M	$1.9M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0093%	1h	164.68	−0.067%	$384K	$2.7M	10x	as long as short
edgeX MSTRUSDC	+0.0093%	4h	164.97	+0.106%	$48K	$5.4M	10x	as long as short
SoDEX MSTR-USD	+0.0099%	1h	164.89	+0.061%	$43K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.72	−0.041%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.70	−0.055%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.85	+0.036%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.71	−0.049%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.69	−0.059%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	165.00	+0.127%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.89	+0.061%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0174%	8h	164.69	−0.059%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0242%	1h	164.66	−0.079%	$55.4M	$36.6M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.761%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0371%	1h	164.64	−0.088%	$111K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.99	+0.123%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0382%	8h	164.78	−0.006%	$17.1M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0781%	1h	165.03	+0.146%	$281K	$438K	10x