MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0352%/8h= −38.5% APRnext payment −$3.52 per $10,000 · paid last 24h −0.048%

Price spread now: Bitget against Variational Omni−0.025%7-day average −0.008% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.067%−$7 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.025%, 7d avg −0.008%

Together, before fees−0.019%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.067% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.52 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	165.97	0.0352	pay 0.0352% / 8h	4h 48m	$1.2M	$1.6M	—
Short	Bitget MSTRUSDT	165.93	0	get 0.0000% / 8h	4h 48m	$32.3M	$102.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BitgetbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$73.92
Price spread: −0.025% → −0.008%: −$1.66
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$87.58
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bitget: live order book, 4 min ago. 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 Variational Omni RFQ quote, 4 min ago	2.98 bp	doesn't fit	14.1 bp −$141	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.90 bp	8.4 bp −$8	11.1 bp −$111	35.5 bp −$3,548	doesn't fit

MSTR on 32 exchanges

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
Gate MSTR_USDT	0.0000%	8h	165.97	−0.001%	$4.9M	$17.1M	50x	as long as short
Bitget MSTRUSDTshort	0.0000%	8h	165.93	−0.025%	$32.3M	$102.9M	25x
Phemex MSTRUSDT	0.0000%	4h	165.55	−0.254%	$2.8M	$85K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.91	−0.037%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.79	−0.109%	$1.0M	$2.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	165.22	−0.452%	$7K	$28K	30x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.85	−0.073%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.82	−0.091%	$412K	$2.5M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.62	−0.211%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.00	+0.017%	$852K	$3.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	165.85	−0.073%	$1.3M	$5.7M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	165.53	−0.266%	$1.4M	$353K	10x	as long as short
Nado MSTR-PERP	+0.0070%	1h	165.81	−0.096%	$127K	$126K	3x	as long as short
Paradex MSTR-USD-PERP	+0.0086%	8h	165.93	−0.022%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.88	−0.054%	$101K	$64K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.78	−0.115%	$2.3M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.85	−0.073%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.59	−0.230%	$2K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.55	−0.254%	$137	$100	10x	as long as short
Bybit MSTRUSDT	+0.0153%	8h	165.89	−0.049%	$16.5M	$37.8M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0229%	1h	165.90	−0.043%	$54.8M	$33.5M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0249%	8h	165.78	−0.115%	$21.9M	$79.5M	50x	as long as short
Aster MSTRUSDT	+0.0264%	8h	165.86	−0.067%	$1.8M	$6.3M	50x	as long as short
Phoenix MSTR	+0.0308%	1h	165.72	−0.151%	$55K	$213K	10x	as long as short
Variational Omni MSTRlong	+0.0352%	8h	165.97	long leg	$1.2M	$1.6M	—
GRVT MSTR_USDT_Perp	+0.0429%	8h	166.01	+0.023%	$84K	$943K	10x	as long as short
Binance MSTRUSDT	+0.0442%	8h	165.84	−0.079%	$86.6M	$516.5M	50x	as long as short
RISEx MSTR/USDC	+0.0459%	1h	165.93	−0.028%	$287K	$356K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0475%	1h	165.53	−0.266%	$281K	$188K	10x	as long as short
edgeX MSTRUSDC	+0.0497%	4h	165.94	−0.021%	$50K	$4.5M	10x	as long as short
BloFin MSTR-USDT	+0.0580%	8h	165.59	−0.230%	$1.1M	$2.0M	20x	as long as short
Arcus MSTR-USD	+0.0803%	1h	165.90	−0.043%	$27K	$67K	10x	as long as short