MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0090%/8h= −9.8% APRnext payment −$0.11 per $10,000 · paid last 24h −0.049%

Price spread now: Nado against Phoenix−0.025%7-day average −0.024% · 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−$80as in the Price arb table

costs, in and out, $10k−$800.799% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.160%−$16 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.025%, 7d avg −0.024%

Together, before fees−0.212%+ Points / potential airdropNado: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSTR	164.02	0.0340	pay 0.0042% / 1h	17m 28s	$56K	$226K	10x
Short	Nado MSTR-PERP	163.98	0.0250	get 0.0031% / 1h	17m 28s	$121K	$148K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phoenix. 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

Position, each leg$Hold fordaysFee PhoenixbpFee NadobpOrdersPrice spread, now −0.025%Rate

Funding earned: −$18.83
Price spread: −0.025% → −0.024%: −$0.1
Slippage, 4 orders: −$65.87
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$98.8
Costs to cover: 0.799%
Break-even: never at this rate

Slippage from Phoenix: live order book, 32 min ago; Nado: live order book, 35 min ago.

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 Phoenix live order book, 32 min ago	3.65 bp	11.4 bp −$11	23.7 bp −$237	doesn't fit	doesn't fit
Sell Nado live order book, 35 min ago	5.77 bp	30.5 bp −$31	82.2 bp −$822	doesn't fit	doesn't fit

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	−0.0945%	8h	164.25	+0.143%	$27.2M	$116.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.13	+0.070%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.20	+0.112%	$4.6M	$19.2M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.17	+0.094%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	164.13	+0.070%	$3.5M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.95	−0.037%	$601K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.246%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.10	+0.051%	$26K	$110K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.92	−0.059%	—	$1.7M	25x	as long as short
OKX MSTR-USDT-SWAP	+0.0047%	8h	164.13	+0.070%	$20.8M	$99.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.06	+0.027%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.06	+0.027%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.80	−0.132%	$846K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.09	+0.045%	$1.4M	$7.3M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	164.17	+0.097%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	164.11	+0.059%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.05	+0.021%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.89	−0.077%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.11	+0.057%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0102%	8h	164.03	+0.006%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.05	+0.023%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0165%	8h	164.12	+0.063%	$86.5M	$618.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0166%	8h	164.07	+0.030%	$76K	$826K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.88	−0.083%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.15	+0.082%	$266K	$445K	10x	as long as short
Nado MSTR-PERPshort	+0.0250%	1h	163.98	−0.025%	$121K	$148K	3x
tradeXYZ xyz:MSTR	+0.0263%	1h	164.08	+0.039%	$54.7M	$37.1M	10x	as long as short
BloFin MSTR-USDT	+0.0284%	8h	164.04	+0.015%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0323%	8h	164.17	+0.094%	$16.6M	$41.1M	50x	as long as short
Phoenix MSTRlong	+0.0340%	1h	164.02	long leg	$56K	$226K	10x
edgeX MSTRUSDC	+0.0400%	4h	163.93	−0.055%	$49K	$5.3M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0726%	1h	164.12	+0.063%	$279K	$438K	10x	as long as short