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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0801%/8h= −87.7% APRpaid last 24h −0.155%
Price spread now: Binance against Deribit−0.068%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$340.342% of the position
Long on DeribitShort on Binance
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)−0.575%−$57 on $10k
Price spread, last 4 days (all we have)−0.088%−$9 · spread now −0.068%, 7d avg −0.039%
Together, before fees−0.663%−$66 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Binance is 0.030% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.039%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit MSTR_USDC-PERPETUAL163.860.0972pay 0.0122% / 1h49m 45s$279K$438K10x
ShortBinance MSTRUSDT163.750.0171get 0.0171% / 8h2h 49m$85.7M$619.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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
−$168.16
Price spread: −0.068% → −0.039%
−$2.96
Slippage, 4 orders
−$17.16
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Binance: 5 bp × 2 orders
−$10
Net
−$205.28
Costs to cover
0.342%
Break-even
never at this rate
Slippage from Deribit: live order book, 64 min ago; Binance: live order book, 9 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 Deribit live order book, 64 min ago5.77 bp9.3 bp −$911.3 bp −$113doesn't fitdoesn't fit
Sell Binance live order book, 9 min ago0.31 bp6.7 bp −$79.5 bp −$9525.7 bp −$2,56933.5 bp −$16.7K

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−0.0973%8h163.89+0.018%$27.0M$117.0M25xas long as short
Aster MSTRUSDT0.0000%8h163.78−0.049%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.83−0.018%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.01+0.092%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.59−0.162%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.344%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.85−0.006%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.56−0.183%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.82−0.024%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.71−0.092%$830K$3.9M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0054%1h163.84−0.012%$1.4M$7.2M10xas long as short
OKX MSTR-USDT-SWAP+0.0063%8h163.78−0.049%$20.6M$99.4M50xas long as short
SoDEX MSTR-USD+0.0071%1h163.71−0.092%$43K$3K10xas long as short
RISEx MSTR/USDC+0.0088%1h163.91+0.031%$266K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.74−0.073%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.66−0.122%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.59−0.165%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.78−0.049%$4K$8K10xas long as short
Variational Omni MSTR+0.0103%8h163.88+0.010%$1.2M$2.1M—as long as short
Aevo MSTR-PERP+0.0104%1h163.81−0.032%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0111%8h163.71−0.093%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0160%8h163.860.000%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.177%$1.4M$1.1M10xas long as short
Binance MSTRUSDTshort+0.0171%8h163.75−0.068%$85.7M$619.5M50x
Lighter MSTR+0.0224%1h163.72−0.085%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0287%8h163.93+0.043%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0333%8h163.84−0.012%$16.7M$41.2M50xas long as short
Nado MSTR-PERP+0.0343%1h163.70−0.101%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0349%1h163.73−0.079%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.103%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0496%4h163.67−0.118%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUALlong+0.0972%1h163.86long leg$279K$438K10x