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Funding arb /

MSTR

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Funding spread now, next payment 14:00 UTC+0.0096%/8h
paid, last 24h−0.167%paid, last 4 days−0.328%to open and close $10k−$38
Long on DeribitShort on OKX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit MSTR_USDC-PERPETUAL164.660.0358pay 0.0045% / 1h29m 28s$279K$493K10x
ShortOKX MSTR-USDT-SWAP165.790.0453get 0.0453% / 8h2h 29m$21.5M$76.2M50x

Funding history

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Funding on every exchange

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latest

Profit calculator

Funding earned
$20.11
Slippage, 4 orders
−$20.62
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee OKX: 5 bp × 2 orders
−$10
Net
−$17.52
Break-even
13.1 days
Slippage from Deribit: live order book, 31 min ago; OKX: live order book, 1 min ago.

Price risk

price view
Price gap now
+0.686%
Avg gap 7d
−0.024%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

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, 31 min ago5.42 bp8.9 bp −$911.9 bp −$119doesn't fitdoesn't fit
Sell OKX live order book, 1 min ago1.52 bp8.9 bp −$914.3 bp −$14343.9 bp −$4,386doesn't fit

MSTR on 31 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Gate MSTR_USDT0.0000%8h$5.0M$16.9M50xas long as short
Phemex MSTRUSDT0.0000%4h$2.8M$26K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h$494K$2.1M10xas long as short
Vest MSTR-USD-PERP+0.0046%1h—$951K25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h$413K$1.3M10xas long as short
SoDEX MSTR-USD+0.0050%1h$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h$924K$4.0M10xas long as short
QFEX MSTR-USD+0.0070%1h$1.3M$8.7M10xas long as short
Pacifica MSTR+0.0100%1h$101K$176K10xas long as short
ApeX Omni MSTRUSDT+0.0100%1h$131K$2.3M50xas long as short
Show all 31 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Orderly PERP_MSTR_USDC_mythos+0.0100%8h$4K$10K10xas long as short
Lighter MSTR+0.0104%1h$3.5M$2.5M10xas long as short
Aevo MSTR-PERP+0.0104%1h$137—10xas long as short
KuCoin MSTRUSDTM+0.0138%8h$2.5M$1.4M20xas long as short
Paradex MSTR-USD-PERP+0.0147%8h$66—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0176%1h$1.5M$1.1M10xas long as short
Bybit MSTRUSDT+0.0210%8h$16.0M$34.0M50xas long as short
Nado MSTR-PERP+0.0239%1h$154K$254K3xas long as short
Phoenix MSTR+0.0342%1h$55K$230K10xas long as short
Deribit MSTR_USDC-PERPETUALlong+0.0358%1h$279K$493K10x
Variational Omni MSTR+0.0414%8h$1.4M$1.8M—as long as short
tradeXYZ xyz:MSTR+0.0415%1h$58.6M$21.6M10xas long as short
Injective MSTR/USDC PERP+0.0440%1h$13K$130K30xas long as short
OKX MSTR-USDT-SWAPshort+0.0453%8h$21.5M$76.2M50x
Bitget MSTRUSDT+0.0492%8h$31.9M$87.3M25xas long as short
Binance MSTRUSDT+0.0509%8h$86.3M$368.6M50xas long as short
Aster MSTRUSDT+0.0546%8h$1.9M$3.5M50xas long as short
Arcus MSTR-USD+0.0549%1h$30K$109K10xas long as short
edgeX MSTRUSDC+0.0574%4h$32K$3.1M10xas long as short
BloFin MSTR-USDT+0.0661%8h$1.1M$1.2M20xas long as short
RISEx MSTR/USDC+0.0870%1h$256K$321K10xas long as short