MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0136%/8h= −14.9% APRnext payment −$0.17 per $10,000 · paid last 24h −0.005%

Price spread now: Extended against Coinbase International−0.273%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 4 days (all we have)+0.285%+$29 · spread now −0.273%, 7d avg −0.002%

Together, before fees+0.195%+ Points / potential airdropExtended: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Extended is 0.271% cheaper against Coinbase International than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	164.77	0.0168	pay 0.0021% / 1h	39m 24s	$1.4M	$1.1M	10x
Short	Extended MSTR_24_5-USD	164.32	0.0032	get 0.0004% / 1h	39m 24s	$595K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee ExtendedbpOrdersPrice spread, now −0.273%Rate

Funding earned: −$28.56
Price spread: −0.273% → −0.002%: −$27.13
Slippage, 4 orders: −$18.75
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$89.44
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Extended: live order book, 4 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 Coinbase International live order book, 4 min ago	5.47 bp	10.5 bp −$10	14.7 bp −$147	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	2.43 bp	6.0 bp −$6	19.5 bp −$195	doesn't fit	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	−0.0865%	8h	164.67	−0.061%	$27.7M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0048%	8h	164.47	−0.182%	$4.6M	$18.5M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.44	−0.197%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.64	−0.079%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	164.35	−0.255%	$20.6M	$99.6M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.54	−0.140%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	164.32	−0.273%	$595K	$1.9M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.774%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.45	−0.194%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.71	−0.036%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.45	−0.194%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.43	−0.206%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.58	−0.115%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.50	−0.164%	$866K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.47	−0.182%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0069%	8h	164.72	−0.028%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.51	−0.158%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.46	−0.188%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.63	−0.085%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.34	−0.261%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.64	−0.077%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0129%	8h	164.43	−0.206%	$87.8M	$617.9M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0142%	8h	164.44	−0.203%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0165%	8h	164.79	+0.014%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	164.77	long leg	$1.4M	$1.1M	10x
Phoenix MSTR	+0.0213%	1h	164.59	−0.112%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0239%	1h	164.44	−0.200%	$54.9M	$36.9M	10x	as long as short
BloFin MSTR-USDT	+0.0247%	8h	164.78	+0.006%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0270%	1h	164.47	−0.181%	$121K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0372%	8h	164.44	−0.200%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0662%	1h	164.68	−0.055%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0951%	4h	164.67	−0.063%	$49K	$5.3M	10x	as long as short