MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0186%/8h= −20.4% APRnext payment −$0.23 per $10,000 · paid last 24h −0.179%

Price spread now: Nado against Deribit−0.040%7-day average −0.060% · 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−$75as in the Price arb table

costs, in and out, $10k−$770.772% of the position

Long on Deribit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.598%−$60 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.040%, 7d avg −0.060%

Together, before fees−0.632%+ Points / potential airdropNado: Active · farm board−$63 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	161.70	0.0555	pay 0.0069% / 1h	26m 20s	$275K	$438K	10x
Short	Nado MSTR-PERP	161.64	0.0369	get 0.0046% / 1h	26m 20s	$129K	$157K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.040%Rate

Funding earned: −$39.03
Price spread: −0.040% → −0.060%: $1.99
Slippage, 4 orders: −$63.2
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$114.24
Costs to cover: 0.772%
Break-even: never at this rate

Slippage from Deribit: live order book, 22 min ago; Nado: live order book, 21 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, 22 min ago	6.10 bp	9.6 bp −$10	11.9 bp −$119	doesn't fit	doesn't fit
Sell Nado live order book, 21 min ago	8.25 bp	31.4 bp −$31	85.6 bp −$856	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	−0.1221%	8h	161.93	+0.142%	$26.7M	$117.8M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	161.70	−0.003%	$1.7M	$8.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	161.82	+0.074%	$4.6M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.30	+0.371%	$2.7M	$77K	10x	as long as short
Vest MSTR-USD-PERP	+0.0030%	1h	161.29	−0.254%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	161.47	−0.142%	$495K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.725%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.10	+0.247%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	161.67	−0.019%	$373K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	161.64	−0.037%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	161.62	−0.049%	$863K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	161.74	+0.025%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	161.75	+0.031%	$262K	$443K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0090%	8h	161.72	+0.012%	$20.4M	$99.5M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	161.72	+0.012%	$99K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	161.64	−0.037%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.11	+0.254%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	161.71	+0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	161.71	+0.009%	$134	—	10x	as long as short
Variational Omni MSTR	+0.0124%	8h	162.32	+0.383%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0144%	1h	161.65	−0.031%	$3.4M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0145%	8h	161.68	−0.011%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.111%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0195%	8h	161.72	+0.010%	$83.5M	$627.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0209%	8h	162.29	+0.367%	$77K	$849K	10x	as long as short
BloFin MSTR-USDT	+0.0316%	8h	161.68	−0.012%	$1.0M	$2.1M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0339%	1h	161.67	−0.019%	$53.7M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0362%	1h	162.41	+0.439%	$55K	$226K	10x	as long as short
Nado MSTR-PERPshort	+0.0369%	1h	161.64	−0.040%	$129K	$157K	3x
Bybit MSTRUSDT	+0.0369%	8h	161.78	+0.049%	$16.7M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0491%	4h	162.30	+0.370%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0555%	1h	161.70	long leg	$275K	$438K	10x