MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0414%/8h= −45.3% APRnext payment −$4.14 per $10,000 · paid last 24h +0.040%

Price spread now: BloFin against Bybit+0.804%602s7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.318% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 3 days (all we have)−0.823%−$82 · spread now +0.804%, 7d avg +0.007%

Together, before fees−0.640%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.797% dearer against Bybit than usual: you sell high and buy low (spread +0.804% now, against its 7-day average of +0.007%): +$80 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 6.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.183%, so the current rate has only just turned against you. The two prices were read 602 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.183% in total (about 9.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.14 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	164.23	0.0425	pay 0.0425% / 8h	6h 39m	$17.2M	$41.3M	50x
Short	BloFin MSTR-USDT	165.55	0.0011	get 0.0011% / 8h	6h 39m	$1.1M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bybit. 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

Position, each leg$Hold fordaysFee BybitbpFee BloFinbpOrdersPrice spread, now +0.804%Rate

Funding earned: −$86.84
Price spread: +0.804% → +0.007%: $79.67
Slippage, 4 orders: −$8.82
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$38.99
Costs to cover: 0.318%
Break-even: from the start

Slippage from Bybit: live order book, 5 min ago; BloFin: live order book, 14 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 5 min ago	0.30 bp	8.4 bp −$8	12.6 bp −$126	119.0 bp −$11.9K	doesn't fit
Sell BloFin live order book, 14 min ago	0.91 bp	7.6 bp −$8	9.7 bp −$97	25.4 bp −$2,538	doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	−0.0715%	8h	164.28	+0.030%	$27.0M	$116.0M	25x	as long as short
Gate MSTR_USDT	−0.0284%	8h	164.11	−0.073%	$4.6M	$18.9M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	163.99	−0.148%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.17	−0.037%	$20.8M	$100.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	163.79	−0.265%	$268K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.35	+0.073%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.41	+0.110%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.22	−0.006%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDTshort	+0.0011%	8h	165.55	+0.804%	$1.1M	$1.9M	20x
Binance MSTRUSDT	+0.0013%	8h	164.20	−0.018%	$86.8M	$626.7M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	163.94	−0.180%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.41	+0.110%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.71	−0.317%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.81	−0.256%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.69	−0.329%	$884K	$4.8M	10x	as long as short
edgeX MSTRUSDC	+0.0056%	4h	165.04	+0.492%	$47K	$5.4M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	163.86	−0.225%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.82	−0.248%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.06	−0.104%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.64	+0.250%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.09	−0.085%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.08	−0.090%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0127%	1h	163.82	−0.250%	$382K	$2.7M	10x	as long as short
Lighter MSTR	+0.0144%	1h	164.11	−0.073%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0164%	8h	163.81	−0.258%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.67	+0.268%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.111%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0366%	1h	164.09	−0.085%	$55.2M	$36.3M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	164.58	+0.214%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0415%	1h	163.68	−0.336%	$111K	$142K	3x	as long as short
Bybit MSTRUSDTlong	+0.0425%	8h	164.23	long leg	$17.2M	$41.3M	50x
Deribit MSTR_USDC-PERPETUAL	+0.1274%	1h	164.24	+0.006%	$279K	$438K	10x	as long as short