MSTR

Alert

Funding spread now, next payment 16:00 UTC−0.0729%/8h

next payment, per $10,000−$0.91paid, last 24h−0.080%paid, last 4 days−0.099%to open and close $10k−$41

The current rate is far above what this pair has been paying: over the last 4 days it paid -0.099% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.91 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	166.20	0.0955	pay 0.0119% / 1h	43m 01s	$282K	$454K	10x
Short	Phoenix MSTR	165.76	0.0226	get 0.0028% / 1h	43m 01s	$53K	$380K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee PhoenixbpOrdersRate

Funding earned: −$153.09
Slippage, 4 orders: −$27.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$194.54
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Phoenix: live order book, 65 min ago.

Price risk

price view

Price gap now: −0.265%
Avg gap 7d: −0.035%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 2 min ago	6.93 bp	10.4 bp −$10	12.3 bp −$123	doesn't fit	doesn't fit
Sell Phoenix live order book, 65 min ago	4.52 bp	11.6 bp −$12	21.9 bp −$219	doesn't fit	doesn't fit

MSTR on 31 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate MSTR_USDT	0.0000%	8h	$4.8M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	$2.8M	$39K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	$499K	$2.2M	10x	as long as short
QFEX MSTR-USD	+0.0041%	1h	$1.3M	$9.3M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	—	$1.7M	25x	as long as short
Lighter MSTR	+0.0048%	1h	$3.6M	$2.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	$410K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	$889K	$4.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	$102K	$153K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin MSTRUSDTM	+0.0100%	8h	$2.5M	$2.6M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	$130K	$1.9M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0111%	8h	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	$1.5M	$1.2M	10x	as long as short
Nado MSTR-PERP	+0.0145%	1h	$125K	$257K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0177%	1h	$56.8M	$31.3M	10x	as long as short
Phoenix MSTRshort	+0.0226%	1h	$53K	$380K	10x
Variational Omni MSTR	+0.0251%	8h	$1.2M	$2.2M	—	as long as short
OKX MSTR-USDT-SWAP	+0.0270%	8h	$22.3M	$101.0M	50x	as long as short
RISEx MSTR/USDC	+0.0277%	1h	$292K	$477K	10x	as long as short
Aster MSTRUSDT	+0.0301%	8h	$1.3M	$6.0M	50x	as long as short
Binance MSTRUSDT	+0.0310%	8h	$89.5M	$555.6M	50x	as long as short
Injective MSTR/USDC PERP	+0.0312%	1h	$12K	$93K	30x	as long as short
Bitget MSTRUSDT	+0.0323%	8h	$29.0M	$111.0M	25x	as long as short
BloFin MSTR-USDT	+0.0430%	8h	$1.1M	$1.4M	20x	as long as short
Bybit MSTRUSDT	+0.0442%	8h	$15.4M	$42.6M	50x	as long as short
Arcus MSTR-USD	+0.0612%	1h	$26K	$126K	10x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0955%	1h	$282K	$454K	10x
edgeX MSTRUSDC	+0.0961%	4h	$44K	$4.9M	10x	as long as short