Funding you earn now, next payment 10:00 UTC−0.0335%/8h= −36.7% APRnext payment −$0.42 per $10,000 · paid last 24h +0.009%
Price spread now: Injective against Coinbase International−0.338%64s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.207%−$21 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 0.338% cheaper against Coinbase International than usual: you would sell low and buy high (−$34 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 64 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 -0.207% in total (about -10.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSTR-PERP-INTX | 165.78 | 0.0072 | pay 0.0009% / 1h | 48m 17s | $1.4M | $364K | 10x |
| Short | Injective MSTR/USDC PERP | 165.22 | −0.0263 | pay 0.0033% / 1h | 48m 17s | $7K | $28K | 30x |
Coinbase International MSTR-PERP-INTX
Injective MSTR/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$70.45
- Price spread: −0.338% → 0.000%
- −$33.78
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$114.25
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 3 min ago; Injective: 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 Coinbase International live order book, 3 min ago | 4.21 bp | 10.0 bp −$10 | 16.6 bp −$166 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective MSTR/USDC PERPshort | −0.0263% | 1h | 165.22 | −0.338% | $7K | $28K | 30x | |
| Gate MSTR_USDT | 0.0000% | 8h | 166.33 | +0.332% | $4.9M | $17.6M | 50x | as long as short |
| Bitget MSTRUSDT | 0.0000% | 8h | 166.33 | +0.332% | $32.0M | $105.4M | 25x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 166.32 | +0.326% | $2.8M | $86K | 10x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 166.17 | +0.235% | $3.5M | $1.7M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 166.13 | +0.211% | $509K | $1.8M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 166.40 | +0.374% | — | $1.7M | 25x | as long as short |
| QFEX MSTR-USD | +0.0050% | 1h | 166.19 | +0.247% | $1.3M | $6.1M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 166.22 | +0.265% | $384K | $2.3M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 166.27 | +0.296% | $44K | $3K | 10x | as long as short |
Gate MSTR_USDT
Bitget MSTRUSDT
Phemex MSTRUSDT
Lighter MSTR
Extended MSTR_24_5-USD
Vest MSTR-USD-PERP
QFEX MSTR-USD
Polymarket Perps MSTR-USD
SoDEX MSTR-USDShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 166.12 | +0.205% | $875K | $3.3M | 10x | as long as short |
| Nado MSTR-PERP | +0.0057% | 1h | 166.18 | +0.238% | $127K | $127K | 3x | as long as short |
| Coinbase International MSTR-PERP-INTXlong | +0.0072% | 1h | 165.78 | long leg | $1.4M | $364K | 10x | |
| Pacifica MSTR | +0.0100% | 1h | 166.19 | +0.244% | $102K | $74K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 166.24 | +0.277% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 166.16 | +0.229% | $6K | $151K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 166.27 | +0.296% | $3K | $10K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 166.32 | +0.328% | $138 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0117% | 8h | 166.22 | +0.264% | $66 | — | 5x | as long as short |
| tradeXYZ xyz:MSTR | +0.0205% | 1h | 166.25 | +0.284% | $54.9M | $34.4M | 10x | as long as short |
| Bybit MSTRUSDT | +0.0213% | 8h | 166.30 | +0.314% | $17.1M | $37.9M | 50x | as long as short |
| Aster MSTRUSDT | +0.0277% | 8h | 166.27 | +0.298% | $1.8M | $7.0M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0297% | 8h | 166.28 | +0.302% | $21.6M | $83.5M | 50x | as long as short |
| Phoenix MSTR | +0.0322% | 1h | 166.49 | +0.428% | $56K | $213K | 10x | as long as short |
| Variational Omni MSTR | +0.0364% | 8h | 166.38 | +0.363% | $1.2M | $1.7M | — | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0412% | 1h | 166.27 | +0.296% | $283K | $209K | 10x | as long as short |
| RISEx MSTR/USDC | +0.0436% | 1h | 166.23 | +0.271% | $274K | $350K | 10x | as long as short |
| Binance MSTRUSDT | +0.0462% | 8h | 166.25 | +0.286% | $87.2M | $535.8M | 50x | as long as short |
| BloFin MSTR-USDT | +0.0591% | 8h | 166.32 | +0.326% | $1.1M | $2.0M | 20x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0608% | 8h | 166.43 | +0.393% | $87K | $855K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0734% | 4h | 166.28 | +0.304% | $48K | $4.9M | 10x | as long as short |
| Arcus MSTR-USD | +0.0824% | 1h | 166.34 | +0.338% | $26K | $71K | 10x | as long as short |
Ondo Perps MSTR-USD.P
Nado MSTR-PERP
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
tradeXYZ xyz:MSTR
Bybit MSTRUSDT
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Phoenix MSTR
Variational Omni MSTR
Deribit MSTR_USDC-PERPETUAL
RISEx MSTR/USDC
Binance MSTRUSDT
BloFin MSTR-USDT
GRVT MSTR_USDT_Perp
edgeX MSTRUSDC
Arcus MSTR-USD