MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0120%/8h= −13.2% APRnext payment −$0.15 per $10,000 · paid last 24h +0.112%

Price spread now: Deribit against RISEx−0.097%7-day average +0.012% · 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−$42as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on RISEx Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.314%+$31 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now −0.097%, 7d avg +0.012%

Together, before fees+0.203%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.108% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.314%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	165.26	0.0598	pay 0.0075% / 1h	55m 19s	$269K	$382K	10x
Short	Deribit MSTR_USDC-PERPETUAL	165.10	0.0477	get 0.0060% / 1h	55m 19s	$281K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against RISEx. 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 RISExbpFee DeribitbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$25.3
Price spread: −0.097% → +0.012%: −$10.84
Slippage, 4 orders: −$17.81
Fee RISEx: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$66.95
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from RISEx: live order book, 38 min ago; Deribit: live order book, 38 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 RISEx live order book, 38 min ago	2.15 bp	5.1 bp −$5	6.1 bp −$61	doesn't fit	doesn't fit
Sell Deribit live order book, 38 min ago	6.76 bp	10.3 bp −$10	12.3 bp −$123	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
Ondo Perps MSTR-USD.P	−0.0082%	1h	165.18	−0.048%	$923K	$3.5M	10x	as long as short
SoDEX MSTR-USD	−0.0022%	1h	165.09	−0.103%	$43K	$3K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.25	−0.006%	$4.9M	$17.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	165.12	−0.085%	$31.2M	$113.0M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.90	+0.387%	$2.8M	$84K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.10	−0.098%	$531K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.22	−0.024%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.00	−0.157%	$380K	$2.5M	10x	as long as short
QFEX MSTR-USD	+0.0076%	1h	165.06	−0.121%	$1.3M	$6.8M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.13	−0.082%	$101K	$88K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MSTRUSDTM	+0.0100%	8h	165.12	−0.085%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.07	+0.490%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.38	+0.073%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.34	+0.050%	$137	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	164.98	−0.169%	$1.4M	$634K	10x	as long as short
Lighter MSTR	+0.0136%	1h	164.96	−0.182%	$3.5M	$1.7M	10x	as long as short
Nado MSTR-PERP	+0.0136%	1h	165.06	−0.120%	$126K	$140K	3x	as long as short
Paradex MSTR-USD-PERP	+0.0181%	8h	164.97	−0.176%	$66	—	5x	as long as short
Aster MSTRUSDT	+0.0189%	8h	165.39	+0.077%	$1.8M	$8.4M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0232%	1h	165.18	−0.048%	$54.6M	$36.3M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0274%	8h	165.18	−0.048%	$21.5M	$91.7M	50x	as long as short
Variational Omni MSTR	+0.0298%	8h	165.92	+0.401%	$1.2M	$1.8M	—	as long as short
Binance MSTRUSDT	+0.0374%	8h	165.23	−0.018%	$86.2M	$588.7M	50x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	162.61	−1.604%	$7K	$26K	30x	as long as short
Phoenix MSTR	+0.0460%	1h	166.22	+0.581%	$56K	$217K	10x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0477%	1h	165.10	−0.097%	$281K	$276K	10x
Bybit MSTRUSDT	+0.0491%	8h	165.22	−0.024%	$17.0M	$40.4M	50x	as long as short
BloFin MSTR-USDT	+0.0501%	8h	166.52	+0.762%	$1.1M	$2.1M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0590%	8h	166.34	+0.653%	$82K	$854K	10x	as long as short
RISEx MSTR/USDClong	+0.0598%	1h	165.26	long leg	$269K	$382K	10x
edgeX MSTRUSDC	+0.0686%	4h	166.14	+0.534%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0942%	1h	165.13	−0.079%	$26K	$102K	10x	as long as short