data as of
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Funding arb /

MSTR

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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 spread now, next payment 16:00 UTC+0.0052%/8h
paid, last 24h−0.069%paid, last 7 days−0.220%to open and close $10k−$38
Long on PhoenixShort on Bybit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix MSTR166.490.0226pay 0.0028% / 1h51m 04s$54K$380K10x
ShortBybit MSTRUSDT166.370.0278get 0.0278% / 8h7h 51m$15.5M$43.3M50x

Funding history

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Funding on every exchange

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latest

Profit calculator

Funding earned
$10.95
Slippage, 4 orders
−$20.16
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$27.21
Break-even
24.4 days
Slippage from Phoenix: live order book, 57 min ago; Bybit: live order book, 4 min ago.

Price risk

price view
Price gap now
−0.069%
Avg gap 7d
−0.009%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 57 min ago4.52 bp9.0 bp −$919.0 bp −$190doesn't fitdoesn't fit
Sell Bybit live order book, 4 min ago0.90 bp8.3 bp −$814.6 bp −$14662.3 bp −$6,229doesn't fit

MSTR on 31 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Gate MSTR_USDT0.0000%8h$4.8M$18.6M50xas long as short
Phemex MSTRUSDT0.0000%4h$2.8M$38K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h$499K$2.2M10xas long as short
QFEX MSTR-USD+0.0041%1h$1.3M$9.2M10xas long as short
Vest MSTR-USD-PERP+0.0046%1h—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h$411K$2.3M10xas long as short
SoDEX MSTR-USD+0.0050%1h$44K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h$894K$4.5M10xas long as short
Lighter MSTR+0.0088%1h$3.6M$2.8M10xas long as short
Pacifica MSTR+0.0100%1h$102K$153K10xas long as short
Show all 31 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
KuCoin MSTRUSDTM+0.0100%8h$2.6M$2.6M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h$130K$1.9M50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h$3K$12K10xas long as short
Aevo MSTR-PERP+0.0104%1h$138—10xas long as short
Paradex MSTR-USD-PERP+0.0108%8h$67—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0112%1h$1.5M$1.2M10xas long as short
Nado MSTR-PERP+0.0156%1h$125K$257K3xas long as short
tradeXYZ xyz:MSTR+0.0192%1h$56.8M$31.3M10xas long as short
Phoenix MSTRlong+0.0226%1h$54K$380K10x
Variational Omni MSTR+0.0246%8h$1.3M$2.2M—as long as short
OKX MSTR-USDT-SWAP+0.0269%8h$22.3M$101.4M50xas long as short
RISEx MSTR/USDC+0.0277%1h$293K$477K10xas long as short
Bybit MSTRUSDTshort+0.0278%8h$15.5M$43.3M50x
Aster MSTRUSDT+0.0305%8h$1.3M$6.0M50xas long as short
Binance MSTRUSDT+0.0310%8h$89.9M$555.7M50xas long as short
Injective MSTR/USDC PERP+0.0312%1h$12K$93K30xas long as short
Bitget MSTRUSDT+0.0320%8h$29.0M$111.1M25xas long as short
BloFin MSTR-USDT+0.0430%8h$1.1M$1.4M20xas long as short
edgeX MSTRUSDC+0.0545%4h$45K$4.9M10xas long as short
Arcus MSTR-USD+0.0612%1h$26K$126K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0833%1h$283K$453K10xas long as short