Funding you earn now, next payment 04:00 UTC+0.0290%/8h= +31.7% APRnext payment +$0.36 per $10,000 · paid last 24h +0.069%
Price spread now: Phoenix against Ondo Perps+0.132%48s7-day average +0.125% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.238%+$24 on $10k
+Price spread, last 4 days (all we have)+0.186%+$19 · spread now +0.132%, 7d avg +0.125%
=Together, before fees+0.424%+ Points / potential airdropOndo Perps: Active · farm board+$42 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.125%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSTR-USD.P | 163.80 | 0.0050 | pay 0.0006% / 1h | 17m 44s | $846K | $3.9M | 10x |
| Short | Phoenix MSTR | 164.02 | 0.0340 | get 0.0042% / 1h | 17m 44s | $56K | $226K | 10x |
Ondo Perps MSTR-USD.P
Phoenix MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Ondo Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $60.8
- Price spread: +0.132% → +0.125%
- $0.71
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $49.5
- Costs to cover
- 0.120%
- Break-even
- 1.3 days
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 32 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 32 min ago | 3.65 bp | 11.4 bp −$11 | 23.7 bp −$237 | doesn't fit | doesn't fit |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0946% | 8h | 164.25 | +0.275% | $27.2M | $116.4M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.15 | +0.215% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.17 | +0.226% | $4.6M | $19.2M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.17 | +0.226% | $2.8M | $77K | 10x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.13 | +0.201% | $3.5M | $2.0M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.95 | +0.092% | $601K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.382% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.07 | +0.165% | $26K | $110K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.80 | 0.000% | — | $1.7M | 25x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0047% | 8h | 164.20 | +0.244% | $20.8M | $99.2M | 50x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
OKX MSTR-USDT-SWAPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.96 | +0.098% | $380K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.06 | +0.159% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.Plong | +0.0050% | 1h | 163.80 | long leg | $846K | $3.9M | 10x | |
| QFEX MSTR-USD | +0.0067% | 1h | 163.93 | +0.079% | $1.4M | $7.3M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0068% | 8h | 163.97 | +0.103% | $66 | — | 5x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.94 | +0.088% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.97 | +0.104% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.89 | +0.055% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.04 | +0.147% | $4K | $8K | 10x | as long as short |
| Variational Omni MSTR | +0.0102% | 8h | 164.03 | +0.138% | $1.2M | $2.1M | — | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.05 | +0.155% | $136 | — | 10x | as long as short |
| Binance MSTRUSDT | +0.0165% | 8h | 164.17 | +0.226% | $86.5M | $618.6M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0166% | 8h | 164.07 | +0.162% | $76K | $826K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.88 | +0.049% | $1.4M | $1.1M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0231% | 1h | 163.99 | +0.113% | $266K | $445K | 10x | as long as short |
| Nado MSTR-PERP | +0.0252% | 1h | 163.88 | +0.051% | $121K | $148K | 3x | as long as short |
| tradeXYZ xyz:MSTR | +0.0264% | 1h | 164.14 | +0.208% | $54.7M | $37.1M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0284% | 8h | 164.04 | +0.147% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0323% | 8h | 164.19 | +0.238% | $16.6M | $41.1M | 50x | as long as short |
| Phoenix MSTRshort | +0.0340% | 1h | 164.02 | +0.132% | $56K | $226K | 10x | |
| edgeX MSTRUSDC | +0.0400% | 4h | 163.93 | +0.077% | $49K | $5.3M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0726% | 1h | 164.12 | +0.195% | $279K | $438K | 10x | as long as short |
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
QFEX MSTR-USD
Paradex MSTR-USD-PERP
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Variational Omni MSTR
Aevo MSTR-PERP
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
RISEx MSTR/USDC
Nado MSTR-PERP
tradeXYZ xyz:MSTR
BloFin MSTR-USDT
Bybit MSTRUSDT
edgeX MSTRUSDC
Deribit MSTR_USDC-PERPETUAL