MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0186%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h +0.066%

Price spread now: Phoenix against Vest+0.150%58s7-day average +0.970% · you sell dearer than you buy

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

Long on Vest Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.092%+$9 on $10k

Price spread, last 3 days (all we have)−0.169%−$17 · spread now +0.150%, 7d avg +0.970%

Together, before fees−0.076%+ Points / potential airdropVest: Active · farm board−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.820% cheaper against Vest than usual: you would sell low and buy high (spread +0.150% now, against its 7-day average of +0.970%). If the spread goes back, that is −$82 on $10k: about 15 days of funding at the current rate (+$6 a day). The two prices were read 58 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	168.76	0.0046	pay 0.0006% / 1h	27m 37s	—	$2.1M	25x
Short	Phoenix MSTR	169.01	0.0231	get 0.0029% / 1h	27m 37s	$57K	$394K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Vest. 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 VestbpFee PhoenixbpOrdersPrice spread, now +0.150%Rate

Funding earned: $39
Price spread: +0.150% → +0.970%: −$81.98
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$51.98
Costs to cover: 0.090%
Break-even: 16.3 days

Slippage unknown: Vest: no order-book sample; Phoenix: live order book, 54 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 Phoenix live order book, 54 min ago	2.77 bp	9.5 bp −$9	18.9 bp −$189	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 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
Nado MSTR-PERP	−0.0115%	1h	168.67	−0.053%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	168.83	+0.041%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.68	−0.046%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.70	−0.035%	$88.2M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.72	−0.024%	$22.0M	$106.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.71	−0.032%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.69	−0.041%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.91	+0.088%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.72	−0.025%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.72	−0.024%	$2.8M	$62K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.75	−0.006%	$28.8M	$119.8M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.69	−0.041%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.50	−0.152%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.81	+0.030%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	168.76	long leg	—	$2.1M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	168.73	−0.018%	$402K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.64	−0.071%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.77	+0.006%	$741K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0053%	8h	168.69	−0.041%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.059%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0066%	1h	168.69	−0.041%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0069%	8h	168.68	−0.046%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.68	−0.049%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.65	−0.065%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	+0.160%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.68	−0.047%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.66	−0.057%	$140	—	10x	as long as short
Phoenix MSTRshort	+0.0231%	1h	169.01	+0.150%	$57K	$394K	10x
edgeX MSTRUSDC	+0.0278%	4h	169.05	+0.171%	$47K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.314%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.81	+0.030%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0699%	1h	168.78	+0.012%	$287K	$439K	10x	as long as short