Funding you earn now, next payment 05:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.027%
Price spread now: Ondo Perps against Bybit−0.238%7-day average −0.085% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.032%−$3 on $10k
+Price spread, last 7 days+0.072%+$7 · spread now −0.238%, 7d avg −0.085%
=Together, before fees+0.040%+ Points / potential airdropOndo Perps: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Ondo Perps is 0.153% cheaper against Bybit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.085%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.032% in total (about -1.6% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSTRUSDT | 163.86 | 0.0314 | pay 0.0314% / 8h | 3h 07m | $16.6M | $41.2M | 50x |
| Short | Ondo Perps MSTR-USD.P | 163.47 | 0.0050 | get 0.0006% / 1h | 7m 07s | $817K | $4.0M | 10x |
Bybit MSTRUSDT
Ondo Perps MSTR-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$55.28
- Price spread: −0.238% → −0.085%
- −$15.35
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$86.63
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 2 min ago; Ondo Perps: no order-book sample. Net counts fees only.
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, 2 min ago | 0.92 bp | 8.7 bp −$9 | 13.1 bp −$131 | 133.9 bp −$13.4K | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0975% | 8h | 163.92 | +0.037% | $27.1M | $116.6M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 163.77 | −0.054% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.86 | 0.000% | $4.6M | $19.3M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.86 | 0.000% | $2.8M | $77K | 10x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 163.75 | −0.067% | $3.5M | $2.0M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.59 | −0.162% | $599K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.344% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.81 | −0.031% | $26K | $110K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0041% | 8h | 163.76 | −0.061% | $20.7M | $98.9M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.51 | −0.214% | — | $1.7M | 25x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
OKX MSTR-USDT-SWAP
Vest MSTR-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.74 | −0.073% | $379K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 163.73 | −0.079% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.Pshort | +0.0050% | 1h | 163.47 | −0.238% | $817K | $4.0M | 10x | |
| QFEX MSTR-USD | +0.0067% | 1h | 163.75 | −0.067% | $1.4M | $7.3M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0071% | 8h | 163.74 | −0.071% | $65 | — | 5x | as long as short |
| Variational Omni MSTR | +0.0091% | 8h | 163.69 | −0.101% | $1.2M | $2.1M | — | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.76 | −0.062% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.68 | −0.110% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.50 | −0.220% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.75 | −0.067% | $4K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.75 | −0.067% | $136 | — | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0145% | 8h | 163.66 | −0.122% | $83K | $837K | 10x | as long as short |
| Binance MSTRUSDT | +0.0154% | 8h | 163.83 | −0.015% | $86.0M | $619.0M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.57 | −0.177% | $1.4M | $1.1M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0231% | 1h | 163.82 | −0.026% | $266K | $445K | 10x | as long as short |
| Nado MSTR-PERP | +0.0240% | 1h | 163.65 | −0.126% | $121K | $148K | 3x | as long as short |
| tradeXYZ xyz:MSTR | +0.0256% | 1h | 163.76 | −0.061% | $54.6M | $37.1M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0274% | 8h | 163.82 | −0.024% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDTlong | +0.0314% | 8h | 163.86 | long leg | $16.6M | $41.2M | 50x | |
| Phoenix MSTR | +0.0340% | 1h | 163.78 | −0.049% | $56K | $226K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0686% | 4h | 163.69 | −0.103% | $48K | $5.4M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0728% | 1h | 163.80 | −0.037% | $279K | $438K | 10x | as long as short |
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
QFEX MSTR-USD
Paradex MSTR-USD-PERP
Variational Omni MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
GRVT MSTR_USDT_Perp
Binance MSTRUSDT
Coinbase International MSTR-PERP-INTX
RISEx MSTR/USDC
Nado MSTR-PERP
tradeXYZ xyz:MSTR
BloFin MSTR-USDT
Phoenix MSTR
edgeX MSTRUSDC
Deribit MSTR_USDC-PERPETUAL