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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.017%
Price spread now: Phemex against Extended+0.138%7-day average +0.104% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ExtendedShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.301%−$30 on $10k
Price spread, last 4 days (all we have)−0.147%−$15 · spread now +0.138%, 7d avg +0.104%
Together, before fees−0.448%+ Points / potential airdropExtended: Active · farm board−$45 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.034% dearer against Extended than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of +0.104%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.301% in total) that is about 19 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended MSTR_24_5-USD163.160.0032pay 0.0004% / 1h57m 40s$507K$2.0M10x
ShortPhemex MSTRUSDT163.390get 0.0000% / 4h57m 40s$2.7M$80K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$6.72
Price spread: +0.138% → +0.104%
$3.36
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$20.36
Costs to cover
0.170%
Break-even
never at this rate
Slippage unknown: Extended: live order book, 1 min ago; Phemex: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 1 min ago1.53 bp7.9 bp −$830.4 bp −$304doesn't fitdoesn't fit
Sell Phemex live order book, 6 min ago1.53 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0572%8h163.53+0.224%$29.1M$118.9M25xas long as short
Gate MSTR_USDT0.0000%8h163.43+0.162%$4.7M$19.4M50xas long as short
Phemex MSTRUSDTshort0.0000%4h163.39+0.138%$2.7M$80K10x
Extended MSTR_24_5-USDlong+0.0032%1h163.16long leg$507K$2.0M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.785%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.55+0.236%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.23+0.040%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.25+0.052%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.37+0.126%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.37+0.126%$846K$3.8M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster MSTRUSDT+0.0066%8h163.25+0.051%$1.8M$8.7M50xas long as short
QFEX MSTR-USD+0.0067%1h163.35+0.113%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.36+0.122%$100K$88K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.27+0.064%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.20+0.021%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.38+0.132%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.38+0.132%$136—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h161.52−1.008%$1.4M$1.1M10xas long as short
Lighter MSTR+0.0152%1h163.24+0.046%$3.5M$2.0M10xas long as short
Paradex MSTR-USD-PERP+0.0173%8h163.32+0.098%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0185%8h163.35+0.113%$20.8M$99.9M50xas long as short
Variational Omni MSTR+0.0187%8h163.34+0.105%$1.2M$2.1M—as long as short
Binance MSTRUSDT+0.0262%8h163.36+0.120%$84.1M$624.5M50xas long as short
GRVT MSTR_USDT_Perp+0.0274%8h163.40+0.144%$76K$865K10xas long as short
Phoenix MSTR+0.0328%1h163.53+0.222%$56K$223K10xas long as short
BloFin MSTR-USDT+0.0381%8h163.43+0.162%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0397%1h163.20+0.019%$130K$157K3xas long as short
Bybit MSTRUSDT+0.0410%8h163.39+0.138%$17.1M$41.8M50xas long as short
RISEx MSTR/USDC+0.0493%1h163.40+0.145%$266K$425K10xas long as short
tradeXYZ xyz:MSTR+0.0560%1h163.36+0.120%$54.0M$37.8M10xas long as short
edgeX MSTRUSDC+0.0637%4h163.44+0.171%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0914%1h163.44+0.169%$278K$437K10xas long as short