MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0675%/8h= −74.0% APRnext payment −$0.84 per $10,000 · paid last 24h −0.166%

Price spread now: Injective against Deribit−0.632%63s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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 −$20 a day on $10k at the current rate, and Injective is 0.632% cheaper against Deribit than usual: you would sell low and buy high (−$63 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	166.27	0.0412	pay 0.0052% / 1h	47m 30s	$283K	$209K	10x
Short	Injective MSTR/USDC PERP	165.22	−0.0263	pay 0.0033% / 1h	47m 30s	$7K	$28K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.632%Rate

Funding earned: −$141.85
Price spread: −0.632% → 0.000%: −$63.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$212.02
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 64 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 Deribit live order book, 64 min ago	8.46 bp	12.0 bp −$12	16.9 bp −$169	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	−0.632%	$7K	$28K	30x
Gate MSTR_USDT	0.0000%	8h	166.21	−0.036%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.17	−0.060%	$32.0M	$105.2M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.29	+0.012%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.16	−0.066%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.06	−0.128%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.34	+0.042%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.17	−0.060%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.10	−0.102%	$383K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.27	0.000%	$44K	$3K	10x	as long as short

Show 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	165.96	−0.186%	$875K	$3.3M	10x	as long as short
Nado MSTR-PERP	+0.0059%	1h	166.12	−0.092%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.295%	$1.4M	$364K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.25	−0.014%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.17	−0.060%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.16	−0.066%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.22	−0.030%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.22	−0.031%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0118%	8h	166.20	−0.042%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0210%	1h	166.14	−0.078%	$54.9M	$34.4M	10x	as long as short
Bybit MSTRUSDT	+0.0211%	8h	166.22	−0.030%	$17.1M	$37.9M	50x	as long as short
Aster MSTRUSDT	+0.0280%	8h	166.19	−0.048%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0296%	8h	166.19	−0.048%	$21.6M	$83.4M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.31	+0.025%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0364%	8h	166.38	+0.068%	$1.2M	$1.7M	—	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0412%	1h	166.27	long leg	$283K	$209K	10x
RISEx MSTR/USDC	+0.0436%	1h	166.23	−0.024%	$274K	$350K	10x	as long as short
Binance MSTRUSDT	+0.0466%	8h	166.22	−0.030%	$87.2M	$534.9M	50x	as long as short
BloFin MSTR-USDT	+0.0591%	8h	166.32	+0.030%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0635%	8h	166.33	+0.036%	$79K	$853K	10x	as long as short
edgeX MSTRUSDC	+0.0734%	4h	166.28	+0.008%	$48K	$4.9M	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.25	−0.012%	$26K	$71K	10x	as long as short