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Funding arb · Price arb /

MSTR

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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0570%/8h= +62.4% APRnext payment +$0.71 per $10,000 · paid last 24h +0.181%
Price spread now: Deribit against Pacifica−0.054%7-day average +0.043% · 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−$47as in the Price arb table
costs, in and out, $10k−$380.377% of the position
Long on PacificaShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)+0.484%+$48 on $10k
Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.054%, 7d avg +0.043%
Together, before fees+0.589%+ Points / potential airdropPacifica: Active · farm board+$59 on $10k · with fees, hour by hour
Funding pays, the price is against you. Deribit is 0.097% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.054% now, against its 7-day average of +0.043%). If the spread goes back, that is −$10 on $10k: about 14 hours of funding at the current rate (+$17 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPacifica MSTR163.330.0100pay 0.0013% / 1h50m 42s$100K$83K10x
ShortDeribit MSTR_USDC-PERPETUAL163.240.0670get 0.0084% / 1h50m 42s$278K$437K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Pacifica. 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
$119.65
Price spread: −0.054% → +0.043%
−$9.7
Slippage, 4 orders
−$22.67
Fee Pacifica: 4 bp × 2 orders
−$8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$72.27
Costs to cover
0.377%
Break-even
2.8 days
Slippage from Pacifica: live order book, 57 min ago; Deribit: live order book, 58 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 Pacifica live order book, 57 min ago0.67 bp6.0 bp −$6doesn't fitdoesn't fitdoesn't fit
Sell Deribit live order book, 58 min ago6.10 bp11.4 bp −$1112.7 bp −$127doesn'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−0.0891%8h163.52+0.118%$28.7M$119.1M25xas long as short
Gate MSTR_USDT0.0000%8h163.43+0.062%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37+0.026%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0017%8h163.29−0.022%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.19−0.088%$502K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.681%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.34+0.007%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.00−0.201%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.13−0.121%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.17−0.097%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.16−0.103%$842K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.37+0.026%$1.3M$7.3M10xas long as short
Pacifica MSTRlong+0.0100%1h163.33long leg$100K$83K10x
KuCoin MSTRUSDTM+0.0100%8h163.27−0.036%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.11−0.133%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.22−0.066%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.23−0.058%$135—10xas long as short
OKX MSTR-USDT-SWAP+0.0123%8h163.39+0.038%$20.7M$100.7M50xas long as short
Paradex MSTR-USD-PERP+0.0143%8h163.29−0.021%$65—5xas long as short
Variational Omni MSTR+0.0143%8h163.26−0.043%$1.2M$2.1M—as long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.107%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0186%1h163.25−0.048%$54.1M$37.3M10xas long as short
Lighter MSTR+0.0192%1h163.29−0.023%$3.5M$2.0M10xas long as short
Binance MSTRUSDT+0.0217%8h163.36+0.022%$83.8M$628.7M50xas long as short
edgeX MSTRUSDC+0.0223%4h163.25−0.048%$46K$5.4M10xas long as short
GRVT MSTR_USDT_Perp+0.0229%8h163.32−0.006%$83K$865K10xas long as short
Nado MSTR-PERP+0.0302%1h163.03−0.180%$130K$157K3xas long as short
Phoenix MSTR+0.0328%1h163.31−0.012%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0337%8h163.32−0.005%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0378%8h163.37+0.026%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.37+0.025%$263K$437K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0670%1h163.24−0.054%$278K$437K10x