MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0428%/8h= −46.9% APRnext payment −$0.54 per $10,000 · paid last 24h −0.198%

Price spread now: Extended against Deribit−0.071%7-day average −0.111% · 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−$30as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Deribit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.381%−$38 on $10k

Price spread, last 3 days (all we have)+0.007%+$1 · spread now −0.071%, 7d avg −0.111%

Together, before fees−0.374%+ Points / potential airdropExtended: Active · farm board−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.040% dearer against Deribit than usual: you sell high and buy low (spread −0.071% now, against its 7-day average of −0.111%): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	169.04	0.0460	pay 0.0058% / 1h	48m 58s	$287K	$438K	10x
Short	Extended MSTR_24_5-USD	168.92	0.0032	get 0.0004% / 1h	48m 58s	$579K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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

Position, each leg$Hold fordaysFee DeribitbpFee ExtendedbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$89.96
Price spread: −0.071% → −0.111%: $4.03
Slippage, 4 orders: −$22.04
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$119.98
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from Deribit: live order book, 25 min ago; Extended: live order book, 5 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 Deribit live order book, 25 min ago	7.40 bp	10.9 bp −$11	14.8 bp −$148	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	1.77 bp	5.8 bp −$6	16.0 bp −$160	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
Nado MSTR-PERP	−0.0096%	1h	168.86	−0.107%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.12	+0.048%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.15	+0.065%	$15.2M	$39.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.05	+0.006%	$21.9M	$103.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.09	+0.030%	$4.7M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	169.11	+0.041%	$28.6M	$115.1M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	−0.048%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.10	+0.035%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.98	−0.035%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	168.92	−0.071%	$579K	$1.7M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0035%	1h	168.92	−0.071%	$1.4M	$10.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.15	+0.065%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.03	−0.006%	—	$2.0M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.95	−0.053%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.93	−0.065%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.80	−0.142%	$747K	$5.0M	10x	as long as short
BloFin MSTR-USDT	+0.0063%	8h	169.09	+0.030%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0072%	8h	169.09	+0.030%	$89.3M	$621.1M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.172%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.94	−0.061%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.95	−0.054%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.06	+0.012%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.89	−0.089%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.00	−0.024%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.10	+0.035%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0170%	1h	169.11	+0.041%	$57.1M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.177%	$8K	$26K	30x	as long as short
GRVT MSTR_USDT_Perp	+0.0256%	8h	169.19	+0.089%	$77K	$859K	10x	as long as short
Phoenix MSTR	+0.0259%	1h	169.17	+0.075%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.03	−0.007%	$275K	$440K	10x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0460%	1h	169.04	long leg	$287K	$438K	10x
edgeX MSTRUSDC	+0.0465%	4h	169.30	+0.154%	$48K	$5.5M	10x	as long as short