MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0968%/8h= −106.0% APRnext payment −$1.21 per $10,000 · paid last 24h −0.095%

Price spread now: RISEx against Deribit−0.037%7-day average −0.012% · 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−$33as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Deribit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.252%−$25 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now −0.037%, 7d avg −0.012%

Together, before fees−0.254%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and RISEx is 0.024% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.252% in total (about -26.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.21 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	164.36	0.0968	pay 0.0121% / 1h	35m 04s	$280K	$438K	10x
Short	RISEx MSTR/USDC	164.30	0	get 0.0000% / 1h	35m 04s	$269K	$436K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$203.35
Price spread: −0.037% → −0.012%: −$2.43
Slippage, 4 orders: −$17.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$236.15
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Deribit: live order book, 34 min ago; RISEx: live order book, 33 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, 34 min ago	7.19 bp	10.7 bp −$11	12.5 bp −$125	doesn't fit	doesn't fit
Sell RISEx live order book, 33 min ago	1.50 bp	4.5 bp −$4	6.8 bp −$68	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	−0.0868%	8h	164.60	+0.146%	$27.2M	$116.0M	25x	as long as short
Gate MSTR_USDT	−0.0204%	8h	164.42	+0.037%	$4.6M	$18.9M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.34	−0.009%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.53	+0.103%	$20.8M	$101.0M	50x	as long as short
RISEx MSTR/USDCshort	0.0000%	1h	164.30	−0.037%	$269K	$436K	10x
Variational Omni MSTR	0.0000%	8h	164.33	−0.019%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.19	−0.100%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.47	+0.067%	$2.8M	$68K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.724%	$1.1M	$1.9M	20x	as long as short
edgeX MSTRUSDC	+0.0016%	4h	163.85	−0.312%	$48K	$5.5M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MSTRUSDT	+0.0023%	8h	164.44	+0.051%	$87.3M	$626.3M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.20	−0.097%	$591K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.28	−0.049%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.12	−0.146%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.32	−0.024%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.13	−0.140%	$917K	$4.9M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.29	−0.043%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.30	−0.037%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.23	−0.079%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.08	−0.170%	$4K	$203K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.28	−0.049%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.28	−0.050%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0114%	1h	164.26	−0.061%	$381K	$2.7M	10x	as long as short
Lighter MSTR	+0.0144%	1h	164.27	−0.055%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0166%	8h	164.24	−0.073%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.04	−0.195%	$1.4M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0340%	1h	164.39	+0.018%	$55.3M	$36.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.030%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0381%	1h	164.13	−0.140%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0400%	1h	164.11	−0.151%	$111K	$143K	3x	as long as short
Bybit MSTRUSDT	+0.0430%	8h	164.53	+0.103%	$17.2M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0968%	1h	164.36	long leg	$280K	$438K	10x