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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+0.0318%/8h= +34.8% APRpaid last 24h −0.009%
Price spread now: Nado against Aster−0.126%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$82as in the Price arb table
costs, in and out, $10k−$690.693% of the position
Long on AsterShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.046%−$5 on $10k
Price spread, last 4 days (all we have)+0.297%+$30 · spread now −0.126%, 7d avg +0.004%
Together, before fees+0.251%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$25 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.130% cheaper against Aster than usual: you would sell low and buy high (spread −0.126% now, against its 7-day average of +0.004%). If the spread goes back, that is −$13 on $10k: about 33 hours of funding at the current rate (+$10 a day).
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.046% in total (about -4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster MSTRUSDT163.090.0036pay 0.0036% / 8h1h 27m$1.8M$8.7M50x
ShortNado MSTR-PERP162.890.0354get 0.0044% / 1h27m 07s$130K$157K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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
$66.8
Price spread: −0.126% → +0.004%
−$12.99
Slippage, 4 orders
−$54.31
Fee Aster: 4 bp × 2 orders
−$8
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$15.49
Costs to cover
0.693%
Break-even
8.6 days
Slippage from Aster: live order book, 2 min ago; Nado: live order book, 15 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 Aster live order book, 2 min ago0.31 bp8.6 bp −$9128.5 bp −$1,285doesn't fitdoesn't fit
Sell Nado live order book, 15 min ago7.06 bp28.6 bp −$2985.8 bp −$858doesn'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−0.0940%8h163.32+0.138%$28.7M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.17+0.046%$4.7M$19.6M50xas long as short
Phemex MSTRUSDT0.0000%4h163.07−0.015%$2.7M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h162.94−0.095%$508K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.829%$8K$26K30xas long as short
Aster MSTRUSDTlong+0.0036%8h163.09long leg$1.8M$8.7M50x
Arcus MSTR-USD+0.0040%1h162.92−0.107%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h162.69−0.248%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h162.97−0.077%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.07−0.015%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.82−0.168%$849K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.04−0.034%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.05−0.025%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h162.97−0.077%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.70−0.242%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.18+0.052%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.12+0.015%$135—10xas long as short
OKX MSTR-USDT-SWAP+0.0150%8h163.14+0.028%$20.7M$100.3M50xas long as short
Variational Omni MSTR+0.0151%8h162.75−0.214%$1.2M$2.1M—as long as short
Lighter MSTR+0.0152%1h163.06−0.021%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−0.966%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0166%8h163.01−0.050%$65—5xas long as short
Binance MSTRUSDT+0.0232%8h163.15+0.034%$83.9M$627.5M50xas long as short
GRVT MSTR_USDT_Perp+0.0242%8h162.87−0.138%$77K$878K10xas long as short
tradeXYZ xyz:MSTR+0.0278%1h163.03−0.040%$54.1M$37.4M10xas long as short
Phoenix MSTR+0.0328%1h162.77−0.199%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0352%8h163.17+0.046%$1.0M$2.1M20xas long as short
Nado MSTR-PERPshort+0.0354%1h162.89−0.126%$130K$157K3x
RISEx MSTR/USDC+0.0381%1h163.12+0.015%$264K$428K10xas long as short
Bybit MSTRUSDT+0.0385%8h163.15+0.034%$16.8M$41.8M50xas long as short
edgeX MSTRUSDC+0.0496%4h162.92−0.110%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1039%1h163.12+0.015%$277K$437K10xas long as short