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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0375%/8h= +41.1% APRnext payment +$0.47 per $10,000 · paid last 24h +0.049%
Price spread now: tradeXYZ against Vest+0.104%7-day average +0.343% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on VestShort on tradeXYZ
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.122%+$12 on $10k
Price spread, last 7 days−0.203%−$20 · spread now +0.104%, 7d avg +0.343%
Together, before fees−0.081%+ Points / potential airdropVest: Active · tradeXYZ: Active · farm board−$8 on $10k · with fees, hour by hour
Funding pays, the price is against you. tradeXYZ is 0.238% cheaper against Vest than usual: you would sell low and buy high (spread +0.104% now, against its 7-day average of +0.343%). If the spread goes back, that is −$24 on $10k: about 2.1 days of funding at the current rate (+$11 a day). At the pace of the last 4 days (+0.122% in total) that is about 6.9 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.122% in total (about 12.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.47 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
LongVest MSTR-USD-PERP163.140.0046pay 0.0006% / 1h2m 38s—$1.8M25x
ShorttradeXYZ xyz:MSTR163.310.0421get 0.0053% / 1h2m 38s$53.9M$37.7M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

tradeXYZ 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

Funding earned
$78.83
Price spread: +0.104% → +0.343%
−$23.84
Slippage, 4 orders
no order book: not counted
Fee Vest: 1 bp × 2 orders
−$2
Fee tradeXYZ: 9 bp × 2 orders
−$18
Net
$34.99
Costs to cover
0.200%
Break-even
3.9 days
Slippage unknown: Vest: no order-book sample; tradeXYZ: live order book, 7 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Vest no order-book sample—————
Sell tradeXYZ live order book, 7 min ago0.31 bp9.3 bp −$911.1 bp −$111doesn't fitdoesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0403%8h163.43+0.178%$29.5M$119.3M25xas long as short
Gate MSTR_USDT0.0000%8h163.35+0.129%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37+0.141%$2.7M$84K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.22+0.052%$589K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.800%$8K$26K30xas long as short
edgeX MSTRUSDC+0.0036%4h163.01−0.080%$46K$5.4M10xas long as short
Arcus MSTR-USD+0.0040%1h163.34+0.123%$26K$114K10xas long as short
Vest MSTR-USD-PERPlong+0.0046%1h163.14long leg—$1.8M25x
Lighter MSTR+0.0048%1h163.26+0.074%$3.5M$2.0M10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.26+0.074%$378K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0050%1h163.33+0.116%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.140.000%$879K$3.7M10xas long as short
QFEX MSTR-USD+0.0067%1h163.29+0.092%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0079%8h163.25+0.069%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.29+0.090%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.18+0.025%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.90−0.147%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.29+0.092%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.29+0.093%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0132%8h163.29+0.090%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h162.62−0.319%$1.4M$1.1M10xas long as short
Nado MSTR-PERP+0.0163%1h163.16+0.012%$125K$165K3xas long as short
Variational Omni MSTR+0.0196%8h163.14+0.002%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0202%8h163.27+0.080%$20.8M$99.9M50xas long as short
GRVT MSTR_USDT_Perp+0.0263%8h163.05−0.055%$82K$859K10xas long as short
Binance MSTRUSDT+0.0272%8h163.29+0.092%$84.0M$620.6M50xas long as short
Phoenix MSTR+0.0357%1h163.27+0.079%$55K$223K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0363%1h163.29+0.092%$278K$437K10xas long as short
BloFin MSTR-USDT+0.0390%8h163.37+0.141%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0399%8h163.26+0.074%$17.1M$41.7M50xas long as short
tradeXYZ xyz:MSTRshort+0.0421%1h163.31+0.104%$53.9M$37.7M10x
RISEx MSTR/USDC+0.0493%1h163.31+0.107%$268K$419K10xas long as short