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Funding arb · Price arb /

MSTR

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Alert: funding
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC−0.0219%/8h= −24.0% APRpaid last 24h −0.044%
Price spread now: Extended against Binance−0.094%7-day average −0.116% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$240.240% of the position
Long on BinanceShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days+0.055%+$5 on $10k
Price spread, last 7 days+0.016%+$2 · spread now −0.094%, 7d avg −0.116%
Together, before fees+0.071%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Extended is 0.022% dearer against Binance than usual: you sell high and buy low (spread −0.094% now, against its 7-day average of −0.116%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.055%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.055% in total (about 2.9% 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
LongBinance MSTRUSDT163.450.0251pay 0.0251% / 8h1h 11m$84.0M$625.9M50x
ShortExtended MSTR_24_5-USD163.300.0032get 0.0004% / 1h11m 43s$508K$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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
−$46.01
Price spread: −0.094% → −0.116%
$2.22
Slippage, 4 orders
−$8.99
Fee Binance: 5 bp × 2 orders
−$10
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$67.78
Costs to cover
0.240%
Break-even
never at this rate
Slippage from Binance: live order book, 2 min ago; Extended: live order book, 2 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 Binance live order book, 2 min ago0.31 bp6.1 bp −$610.1 bp −$10128.5 bp −$2,850doesn't fit
Sell Extended live order book, 2 min ago3.06 bp5.6 bp −$624.8 bp −$248doesn'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−0.0706%8h163.62+0.102%$29.1M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.53+0.047%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.67+0.132%$2.8M$79K10xas long as short
Extended MSTR_24_5-USDshort+0.0032%1h163.30−0.094%$508K$2.0M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.601%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.71+0.157%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.51+0.034%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.47+0.010%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.52+0.040%$850K$3.9M10xas long as short
Aster MSTRUSDT+0.0055%8h163.31−0.089%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.56+0.065%$1.3M$7.1M10xas long as short
SoDEX MSTR-USD+0.0067%1h163.57+0.071%$43K$3K10xas long as short
Pacifica MSTR+0.0100%1h163.54+0.056%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.47+0.010%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.61+0.095%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.52+0.040%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.55+0.058%$136—10xas long as short
Lighter MSTR+0.0112%1h163.37−0.051%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.183%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0164%8h163.52+0.042%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0168%8h163.48+0.016%$20.8M$100.1M50xas long as short
Variational Omni MSTR+0.0175%8h163.69+0.142%$1.2M$2.1M—as long as short
tradeXYZ xyz:MSTR+0.0244%1h163.39−0.039%$54.1M$37.2M10xas long as short
Binance MSTRUSDTlong+0.0251%8h163.45long leg$84.0M$625.9M50x
GRVT MSTR_USDT_Perp+0.0265%8h163.76+0.185%$84K$867K10xas long as short
Phoenix MSTR+0.0328%1h163.77+0.193%$56K$223K10xas long as short
Nado MSTR-PERP+0.0358%1h163.39−0.036%$131K$157K3xas long as short
BloFin MSTR-USDT+0.0369%8h163.62+0.102%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.65+0.120%$265K$425K10xas long as short
Bybit MSTRUSDT+0.0387%8h163.52+0.040%$17.1M$41.8M50xas long as short
edgeX MSTRUSDC+0.0780%4h163.70+0.152%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0913%1h163.59+0.083%$278K$437K10xas long as short