MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0089%/8h= +9.8% APRnext payment +$0.11 per $10,000 · paid last 24h +0.051%

Price spread now: RISEx against Phoenix−0.202%7-day average +0.008% · 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−$53as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Phoenix Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.189%+$19 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.202%, 7d avg +0.008%

Together, before fees+0.201%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.210% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.202% now, against its 7-day average of +0.008%). If the spread goes back, that is −$21 on $10k: about 7.8 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.189% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSTR	168.70	0.0259	pay 0.0032% / 1h	21m 36s	$56K	$384K	10x
Short	RISEx MSTR/USDC	168.36	0.0349	get 0.0044% / 1h	21m 36s	$274K	$433K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.202%Rate

Funding earned: $18.77
Price spread: −0.202% → +0.008%: −$21
Slippage, 4 orders: −$18.74
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$33.97
Costs to cover: 0.317%
Break-even: 19.7 days

Slippage from Phoenix: live order book, 50 min ago; RISEx: live order book, 52 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, 50 min ago	3.91 bp	12.0 bp −$12	25.2 bp −$252	doesn't fit	doesn't fit
Sell RISEx live order book, 52 min ago	0.89 bp	3.9 bp −$4	6.0 bp −$60	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
Nado MSTR-PERP	−0.0033%	1h	168.30	−0.238%	$139K	$84K	3x	as long as short
Gate MSTR_USDT	−0.0002%	8h	168.36	−0.202%	$4.7M	$19.0M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.44	−0.152%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.36	−0.202%	$21.7M	$100.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.41	−0.172%	$28.1M	$113.4M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.83	+0.075%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.89	+0.112%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.53	−0.101%	$2.8M	$67K	10x	as long as short
Bybit MSTRUSDT	+0.0009%	8h	168.35	−0.207%	$15.1M	$39.1M	50x	as long as short
Binance MSTRUSDT	+0.0013%	8h	168.34	−0.213%	$88.6M	$613.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MSTR-USDT	+0.0024%	8h	168.62	−0.047%	$1.1M	$1.9M	20x	as long as short
Lighter MSTR	+0.0032%	1h	168.35	−0.207%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.23	−0.279%	$580K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.35	−0.207%	$1.4M	$9.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.68	−0.012%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.36	−0.202%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.30	−0.237%	$395K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.44	−0.154%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.32	−0.225%	$735K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.142%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0090%	8h	168.35	−0.205%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.40	−0.177%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.39	−0.184%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.57	−0.077%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.42	−0.166%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.38	−0.190%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	168.37	−0.196%	$56.7M	$35.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.379%	$8K	$26K	30x	as long as short
Phoenix MSTRlong	+0.0259%	1h	168.70	long leg	$56K	$384K	10x
RISEx MSTR/USDCshort	+0.0349%	1h	168.36	−0.202%	$274K	$433K	10x
Deribit MSTR_USDC-PERPETUAL	+0.0582%	1h	168.42	−0.166%	$286K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0654%	4h	168.64	−0.036%	$47K	$5.5M	10x	as long as short