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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+0.0995%/8h= +109.0% APRnext payment +$1.24 per $10,000 · paid last 24h +0.099%
Price spread now: Deribit against Arcus+0.184%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$440.443% of the position
Long on ArcusShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.508%+$51 on $10k
Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.184%, 7d avg +0.014%
Together, before fees+0.391%+$39 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$30 a day on $10k at the current rate, and Deribit is 0.170% dearer against Arcus than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.014%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongArcus MSTR-USD163.260.0040pay 0.0005% / 1h24m 40s$26K$113K10x
ShortDeribit MSTR_USDC-PERPETUAL163.560.1036get 0.0129% / 1h24m 40s$278K$437K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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
$209.01
Price spread: +0.184% → +0.014%
$16.96
Slippage, 4 orders
−$32.77
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$181.7
Costs to cover
0.443%
Break-even
0.9 days
Slippage from Arcus: live order book, 18 min ago; Deribit: live order book, 19 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 Arcus live order book, 18 min ago7.06 bp10.9 bp −$1143.0 bp −$430doesn't fitdoesn't fit
Sell Deribit live order book, 19 min ago6.44 bp11.2 bp −$1112.7 bp −$127doesn'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−0.0902%8h163.56+0.184%$28.9M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.45+0.116%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.43+0.104%$2.8M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.25−0.009%$508K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.724%$8K$26K30xas long as short
Arcus MSTR-USDlong+0.0040%1h163.26long leg$26K$113K10x
Aster MSTRUSDT+0.0041%8h163.20−0.035%$1.8M$8.7M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.23−0.018%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.45+0.116%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.40+0.086%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.14−0.074%$857K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.42+0.098%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.35+0.058%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.23−0.018%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.98−0.172%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.46+0.123%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.48+0.134%$136—10xas long as short
Lighter MSTR+0.0144%1h163.32+0.037%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.066%$1.4M$1.1M10xas long as short
OKX MSTR-USDT-SWAP+0.0155%8h163.43+0.104%$20.8M$100.5M50xas long as short
Variational Omni MSTR+0.0158%8h163.34+0.047%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0168%8h163.35+0.055%$65—5xas long as short
Binance MSTRUSDT+0.0239%8h163.40+0.086%$84.0M$627.6M50xas long as short
GRVT MSTR_USDT_Perp+0.0248%8h163.15−0.067%$77K$878K10xas long as short
tradeXYZ xyz:MSTR+0.0271%1h163.30+0.025%$54.2M$37.1M10xas long as short
Phoenix MSTR+0.0328%1h162.77−0.300%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0356%8h163.48+0.135%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0359%1h163.33+0.042%$130K$157K3xas long as short
RISEx MSTR/USDC+0.0381%1h163.43+0.104%$265K$428K10xas long as short
Bybit MSTRUSDT+0.0385%8h163.43+0.104%$16.8M$41.8M50xas long as short
edgeX MSTRUSDC+0.0630%4h163.03−0.139%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.1036%1h163.56+0.184%$278K$437K10x