MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0136%/8h= +14.9% APRnext payment +$0.17 per $10,000 · paid last 24h +0.005%

Price spread now: Coinbase International against Extended+0.347%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs+$1as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Extended Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−0.359%−$36 · spread now +0.347%, 7d avg +0.002%

Together, before fees−0.269%+ Points / potential airdropExtended: Active · farm board−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.345% dearer against Extended than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSTR_24_5-USD	164.20	0.0032	pay 0.0004% / 1h	38m 57s	$595K	$1.9M	10x
Short	Coinbase International MSTR-PERP-INTX	164.77	0.0168	get 0.0021% / 1h	38m 57s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Extended. 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 ExtendedbpFee Coinbase InternationalbpOrdersPrice spread, now +0.347%Rate

Funding earned: $28.56
Price spread: +0.347% → +0.002%: $34.53
Slippage, 4 orders: −$18.75
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $29.34
Costs to cover: 0.338%
Break-even: from the start

Slippage from Extended: live order book, 5 min ago; Coinbase International: live order book, 5 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 Extended live order book, 5 min ago	2.43 bp	6.8 bp −$7	22.2 bp −$222	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	5.47 bp	10.5 bp −$10	17.2 bp −$172	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	−0.0865%	8h	164.48	+0.171%	$27.7M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0048%	8h	164.36	+0.097%	$4.6M	$18.5M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.33	+0.081%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.54	+0.207%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	164.33	+0.079%	$20.6M	$99.6M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.29	+0.055%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	164.20	long leg	$595K	$1.9M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.130%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.45	+0.152%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.71	+0.311%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.45	+0.152%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.43	+0.140%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.34	+0.085%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.50	+0.183%	$866K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.47	+0.164%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0069%	8h	164.72	+0.319%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.51	+0.189%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.29	+0.055%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.63	+0.262%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.34	+0.085%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.32	+0.076%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0129%	8h	164.31	+0.065%	$87.8M	$618.0M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0142%	8h	164.44	+0.143%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0165%	8h	164.79	+0.361%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	164.77	+0.347%	$1.4M	$1.1M	10x
Phoenix MSTR	+0.0213%	1h	164.59	+0.234%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0237%	1h	164.31	+0.067%	$54.8M	$36.9M	10x	as long as short
BloFin MSTR-USDT	+0.0249%	8h	164.38	+0.110%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0270%	1h	164.47	+0.166%	$121K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0372%	8h	164.39	+0.116%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0420%	1h	164.38	+0.110%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0951%	4h	164.67	+0.284%	$49K	$5.3M	10x	as long as short