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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 08:00 UTC+0.0848%/8h= +92.9% APRnext payment +$8.48 per $10,000 · paid last 24h +0.015%
Price spread now: OKX against Bitget−0.043%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$300.297% of the position
Long on BitgetShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.087%+$9 on $10k
Price spread, last 7 days+0.016%+$2 · spread now −0.043%, 7d avg −0.007%
Together, before fees+0.103%+$10 on $10k · with fees, hour by hour
Funding pays, the price is against you. OKX is 0.036% cheaper against Bitget than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of −0.007%). If the spread goes back, that is −$4 on $10k: about 3 hours of funding at the current rate (+$25 a day). At the pace of the last 7 days (+0.087% in total) that is about 2.9 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.087% in total (about 4.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$8.48 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
LongBitget MSTRUSDT163.71−0.0678get 0.0678% / 8h1h 09m$29.1M$118.7M25x
ShortOKX MSTR-USDT-SWAP163.640.0170get 0.0170% / 8h1h 09m$20.8M$100.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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
$178.11
Price spread: −0.043% → −0.007%
−$3.57
Slippage, 4 orders
−$7.7
Fee Bitget: 6 bp × 2 orders
−$12
Fee OKX: 5 bp × 2 orders
−$10
Net
$144.85
Costs to cover
0.297%
Break-even
1.3 days
Slippage from Bitget: live order book, 5 min ago; OKX: live order book, 4 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 Bitget live order book, 5 min ago0.31 bp8.4 bp −$814.3 bp −$14326.0 bp −$2,596doesn't fit
Sell OKX live order book, 4 min ago0.31 bp6.5 bp −$713.1 bp −$13167.6 bp −$6,759doesn'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 MSTRUSDTlong−0.0678%8h163.71long leg$29.1M$118.7M25x
Gate MSTR_USDT0.0000%8h163.710.000%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.66−0.031%$2.8M$80K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.34−0.226%$508K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.439%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.63−0.049%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.50−0.128%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.54−0.104%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.52−0.116%$846K$3.9M10xas long as short
SoDEX MSTR-USD+0.0052%1h163.53−0.110%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster MSTRUSDT+0.0055%8h163.52−0.116%$1.8M$8.7M50xas long as short
QFEX MSTR-USD+0.0057%1h163.53−0.110%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.53−0.109%$100K$88K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.55−0.098%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.33−0.232%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.62−0.055%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.65−0.039%$136—10xas long as short
Lighter MSTR+0.0112%1h163.49−0.134%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.338%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0164%8h163.52−0.118%$65—5xas long as short
OKX MSTR-USDT-SWAPshort+0.0170%8h163.64−0.043%$20.8M$100.2M50x
Variational Omni MSTR+0.0177%8h163.46−0.150%$1.2M$2.1M—as long as short
tradeXYZ xyz:MSTR+0.0242%1h163.53−0.110%$54.2M$37.1M10xas long as short
Binance MSTRUSDT+0.0253%8h163.63−0.049%$84.1M$625.7M50xas long as short
GRVT MSTR_USDT_Perp+0.0267%8h163.55−0.098%$83K$867K10xas long as short
edgeX MSTRUSDC+0.0309%4h163.63−0.052%$46K$5.4M10xas long as short
Phoenix MSTR+0.0328%1h163.52−0.117%$56K$223K10xas long as short
Nado MSTR-PERP+0.0358%1h163.43−0.172%$131K$157K3xas long as short
BloFin MSTR-USDT+0.0371%8h163.52−0.116%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.60−0.067%$266K$426K10xas long as short
Bybit MSTRUSDT+0.0391%8h163.69−0.012%$17.1M$41.8M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0974%1h163.61−0.061%$278K$437K10xas long as short