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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0224%/8h= +24.5% APRnext payment +$2.24 per $10,000 · paid last 24h −0.008%
Price spread now: Bybit against OKX−0.024%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$320.315% of the position
Long on OKXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.014%+$1 on $10k
Price spread, last 7 days−0.001%$0 · spread now −0.024%, 7d avg −0.004%
Together, before fees+0.013%+$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.021% cheaper against OKX than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of −0.004%). If the spread goes back, that is −$2 on $10k: about 7 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.014% in total) that is about 10 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX MSTR-USDT-SWAP163.780.0165pay 0.0165% / 8h1h 21m$20.8M$100.7M50x
ShortBybit MSTRUSDT163.740.0389get 0.0389% / 8h1h 21m$16.9M$41.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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

Funding earned
$46.99
Price spread: −0.024% → −0.004%
−$2.07
Slippage, 4 orders
−$10.5
Fee OKX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$13.42
Costs to cover
0.315%
Break-even
5.0 days
Slippage from OKX: live order book, 2 min ago; Bybit: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 2 min ago0.31 bp6.5 bp −$610.3 bp −$10371.9 bp −$7,188doesn't fit
Sell Bybit live order book, 2 min ago1.53 bp9.9 bp −$1014.6 bp −$146126.4 bp −$12.6Kdoesn'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−0.0858%8h163.90+0.073%$29.0M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.80+0.012%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.63−0.092%$2.8M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.60−0.110%$511K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.395%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.47−0.189%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.61−0.104%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.34−0.269%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.48−0.183%$840K$3.9M10xas long as short
Aster MSTRUSDT+0.0050%8h163.54−0.146%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.780.000%$1.3M$7.2M10xas long as short
SoDEX MSTR-USD+0.0065%1h163.37−0.250%$43K$3K10xas long as short
Pacifica MSTR+0.0100%1h163.73−0.032%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.56−0.134%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.29−0.299%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.36−0.256%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.38−0.244%$136—10xas long as short
Lighter MSTR+0.0144%1h163.60−0.110%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.380%$1.4M$1.1M10xas long as short
Variational Omni MSTR+0.0158%8h163.34−0.271%$1.2M$2.1M—as long as short
OKX MSTR-USDT-SWAPlong+0.0165%8h163.78long leg$20.8M$100.7M50x
Paradex MSTR-USD-PERP+0.0169%8h163.63−0.090%$65—5xas long as short
Binance MSTRUSDT+0.0245%8h163.77−0.006%$84.0M$627.3M50xas long as short
GRVT MSTR_USDT_Perp+0.0259%8h163.42−0.220%$83K$878K10xas long as short
tradeXYZ xyz:MSTR+0.0260%1h163.60−0.110%$54.2M$37.1M10xas long as short
Phoenix MSTR+0.0328%1h163.35−0.259%$55K$223K10xas long as short
Nado MSTR-PERP+0.0361%1h163.49−0.178%$131K$157K3xas long as short
BloFin MSTR-USDT+0.0363%8h163.41−0.226%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.47−0.187%$265K$428K10xas long as short
Bybit MSTRUSDTshort+0.0389%8h163.74−0.024%$16.9M$41.8M50x
Deribit MSTR_USDC-PERPETUAL+0.0485%1h163.43−0.214%$278K$437K10xas long as short
edgeX MSTRUSDC+0.0831%4h163.42−0.219%$46K$5.4M10xas long as short