Funding you earn now, next payment 05:00 UTC−0.0312%/8h= −34.1% APRnext payment −$0.39 per $10,000 · paid last 24h −0.048%
Price spread now: SoDEX against Phoenix−0.201%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and SoDEX is 0.201% cheaper against Phoenix than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSTR | 163.80 | 0.0362 | pay 0.0045% / 1h | 44m 33s | $56K | $226K | 10x |
| Short | SoDEX MSTR-USD | 163.47 | 0.0050 | get 0.0006% / 1h | 44m 33s | $43K | $3K | 10x |
Phoenix MSTR
SoDEX MSTR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Phoenix. 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
- −$65.46
- Price spread: −0.201% → 0.000%
- −$20.09
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$100.54
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 65 min ago; SoDEX: no order-book sample. 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 Phoenix live order book, 65 min ago | 3.65 bp | 11.4 bp −$11 | 23.7 bp −$237 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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 | −0.0968% | 8h | 163.71 | −0.054% | $27.1M | $117.1M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 163.55 | −0.151% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.65 | −0.091% | $4.6M | $19.2M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.86 | +0.037% | $2.8M | $77K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.34 | −0.277% | $596K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.383% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.71 | −0.054% | $26K | $109K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.21 | −0.360% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.49 | −0.189% | $377K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USDshort | +0.0050% | 1h | 163.47 | −0.201% | $43K | $3K | 10x |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 163.35 | −0.274% | $829K | $3.9M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 163.54 | −0.158% | $1.4M | $7.2M | 10x | as long as short |
| edgeX MSTRUSDC | +0.0054% | 4h | 163.77 | −0.017% | $49K | $5.4M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0078% | 8h | 163.56 | −0.146% | $20.8M | $99.7M | 50x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 163.58 | −0.135% | $265K | $446K | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.56 | −0.145% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.46 | −0.207% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.54 | −0.158% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.52 | −0.170% | $4K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.51 | −0.178% | $136 | — | 10x | as long as short |
| Variational Omni MSTR | +0.0108% | 8h | 163.54 | −0.160% | $1.2M | $2.1M | — | as long as short |
| Paradex MSTR-USD-PERP | +0.0123% | 8h | 163.51 | −0.178% | $65 | — | 5x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.57 | −0.140% | $1.4M | $1.1M | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0174% | 8h | 163.74 | −0.034% | $79K | $838K | 10x | as long as short |
| Binance MSTRUSDT | +0.0178% | 8h | 163.56 | −0.146% | $85.7M | $619.7M | 50x | as long as short |
| Lighter MSTR | +0.0208% | 1h | 163.50 | −0.183% | $3.5M | $1.9M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0297% | 8h | 163.56 | −0.146% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0345% | 8h | 163.62 | −0.109% | $16.7M | $41.2M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.0350% | 1h | 163.50 | −0.183% | $54.4M | $37.1M | 10x | as long as short |
| Nado MSTR-PERP | +0.0355% | 1h | 163.39 | −0.248% | $121K | $148K | 3x | as long as short |
| Phoenix MSTRlong | +0.0362% | 1h | 163.80 | long leg | $56K | $226K | 10x | |
| Deribit MSTR_USDC-PERPETUAL | +0.0913% | 1h | 163.61 | −0.115% | $278K | $438K | 10x | as long as short |
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
edgeX MSTRUSDC
OKX MSTR-USDT-SWAP
RISEx MSTR/USDC
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Variational Omni MSTR
Paradex MSTR-USD-PERP
Coinbase International MSTR-PERP-INTX
GRVT MSTR_USDT_Perp
Binance MSTRUSDT
Lighter MSTR
BloFin MSTR-USDT
Bybit MSTRUSDT
tradeXYZ xyz:MSTR
Nado MSTR-PERP
Deribit MSTR_USDC-PERPETUAL