Settings8H · net · $10k
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Funding arb · Price arb /

MSTR

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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0254%/8h= +27.9% APRpaid last 24h +0.049%
Price spread now: BloFin against Coinbase International+0.215%7-day average +0.119% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$340.340% of the position
Long on Coinbase InternationalShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.078%+$8 on $10k
Price spread, last 4 days (all we have)−0.248%−$25 · spread now +0.215%, 7d avg +0.119%
Together, before fees−0.170%−$17 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.096% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.119%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.078% in total (about 4.1% 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
LongCoinbase International MSTR-PERP-INTX162.620.0136pay 0.0017% / 1h10m 17s$1.4M$1.1M10x
ShortBloFin MSTR-USDT162.970.0390get 0.0390% / 8h10m 17s$1.0M$2.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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
$53.44
Price spread: +0.215% → +0.119%
$9.58
Slippage, 4 orders
−$11.96
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee BloFin: 6 bp × 2 orders
−$12
Net
$29.06
Costs to cover
0.340%
Break-even
3.2 days
Slippage from Coinbase International: live order book, 3 min ago; BloFin: live order book, 3 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 Coinbase International live order book, 3 min ago1.53 bp11.5 bp −$1216.3 bp −$163doesn't fitdoesn't fit
Sell BloFin live order book, 3 min ago0.61 bp8.4 bp −$811.1 bp −$11125.7 bp −$2,566doesn'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−0.0452%8h163.32+0.430%$29.5M$119.2M25xas long as short
Gate MSTR_USDT0.0000%8h163.24+0.381%$4.7M$19.6M50xas long as short
Phemex MSTRUSDT0.0000%4h163.08+0.283%$2.7M$84K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.06+0.271%$591K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+4.132%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.11+0.301%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h162.99+0.228%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.09+0.289%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.13+0.314%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h162.85+0.141%$888K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter MSTR+0.0056%1h163.09+0.289%$3.5M$2.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.13+0.314%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0075%8h163.20+0.358%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.00+0.236%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.10+0.295%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.03+0.252%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.19+0.351%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.20+0.359%$135—10xas long as short
Coinbase International MSTR-PERP-INTXlong+0.0136%1h162.62long leg$1.4M$1.1M10x
Paradex MSTR-USD-PERP+0.0139%8h163.07+0.279%$65—5xas long as short
Nado MSTR-PERP+0.0175%1h163.05+0.264%$125K$165K3xas long as short
Variational Omni MSTR+0.0197%8h163.01+0.240%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0200%8h163.26+0.394%$20.8M$99.9M50xas long as short
Binance MSTRUSDT+0.0269%8h163.22+0.371%$83.9M$620.2M50xas long as short
GRVT MSTR_USDT_Perp+0.0270%8h163.12+0.310%$82K$859K10xas long as short
edgeX MSTRUSDC+0.0324%4h162.80+0.108%$46K$5.4M10xas long as short
Phoenix MSTR+0.0357%1h163.17+0.338%$55K$223K10xas long as short
BloFin MSTR-USDTshort+0.0390%8h162.97+0.215%$1.0M$2.1M20x
Bybit MSTRUSDT+0.0406%8h163.17+0.338%$17.1M$41.7M50xas long as short
tradeXYZ xyz:MSTR+0.0442%1h163.18+0.344%$53.9M$37.7M10xas long as short
RISEx MSTR/USDC+0.0493%1h163.20+0.357%$268K$419K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0670%1h163.21+0.363%$278K$437K10xas long as short