Funding you earn now, next payment 10:00 UTC−0.0752%/8h= −82.3% APRnext payment −$0.94 per $10,000 · paid last 24h −0.084%
Price spread now: Coinbase International against Arcus−0.373%7-day average −0.133% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.035%+$3 on $10k
+Price spread, last 4 days (all we have)+0.334%+$33 · spread now −0.373%, 7d avg −0.133%
=Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Coinbase International is 0.240% cheaper against Arcus than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.133%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.035% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.94 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 | Arcus MSTR-USD | 166.20 | 0.0824 | pay 0.0103% / 1h | 6m 26s | $26K | $63K | 10x |
| Short | Coinbase International MSTR-PERP-INTX | 165.58 | 0.0072 | get 0.0009% / 1h | 6m 26s | $1.4M | $356K | 10x |
Arcus MSTR-USD
Coinbase International MSTR-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Arcus. 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
- −$157.82
- Price spread: −0.373% → −0.133%
- −$24.03
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$196.35
- Costs to cover
- 0.145%
- Break-even
- never at this rate
Slippage unknown: Arcus: no order-book sample; Coinbase International: live order book, 5 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 Arcus no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 5 min ago | 4.52 bp | 9.5 bp −$10 | 16.0 bp −$160 | doesn't fit | doesn't fit |
Arcus: 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective MSTR/USDC PERP | −0.0263% | 1h | 165.22 | −0.590% | $7K | $28K | 30x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 166.23 | +0.018% | $4.9M | $17.9M | 50x | as long as short |
| Bitget MSTRUSDT | 0.0000% | 8h | 166.22 | +0.012% | $32.3M | $103.1M | 25x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 166.09 | −0.066% | $2.8M | $83K | 10x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 166.06 | −0.084% | $3.5M | $1.7M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 166.03 | −0.101% | $616K | $2.0M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 166.19 | −0.006% | — | $1.7M | 25x | as long as short |
| QFEX MSTR-USD | +0.0050% | 1h | 166.08 | −0.072% | $1.3M | $5.8M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 166.13 | −0.042% | $392K | $2.4M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 166.03 | −0.102% | $44K | $3K | 10x | as long as short |
Injective MSTR/USDC PERP
Gate MSTR_USDT
Bitget MSTRUSDT
Phemex MSTRUSDT
Lighter MSTR
Extended MSTR_24_5-USD
Vest MSTR-USD-PERP
QFEX MSTR-USD
Polymarket Perps MSTR-USD
SoDEX MSTR-USDShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 165.65 | −0.331% | $859K | $3.2M | 10x | as long as short |
| Nado MSTR-PERP | +0.0069% | 1h | 166.08 | −0.073% | $127K | $127K | 3x | as long as short |
| Coinbase International MSTR-PERP-INTXshort | +0.0072% | 1h | 165.58 | −0.373% | $1.4M | $356K | 10x | |
| Paradex MSTR-USD-PERP | +0.0091% | 8h | 166.10 | −0.058% | $66 | — | 5x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 166.02 | −0.108% | $101K | $74K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 166.00 | −0.120% | $2.3M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 165.90 | −0.181% | $6K | $151K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 166.14 | −0.036% | $2K | $11K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 166.16 | −0.026% | $138 | — | 10x | as long as short |
| Bybit MSTRUSDT | +0.0173% | 8h | 166.24 | +0.024% | $16.6M | $37.9M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.0223% | 1h | 166.11 | −0.054% | $54.9M | $33.5M | 10x | as long as short |
| Aster MSTRUSDT | +0.0256% | 8h | 166.04 | −0.096% | $1.8M | $6.3M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0259% | 8h | 166.20 | 0.000% | $21.8M | $80.5M | 50x | as long as short |
| Phoenix MSTR | +0.0322% | 1h | 165.93 | −0.162% | $55K | $213K | 10x | as long as short |
| Variational Omni MSTR | +0.0351% | 8h | 165.80 | −0.239% | $1.2M | $1.6M | — | as long as short |
| GRVT MSTR_USDT_Perp | +0.0433% | 8h | 166.02 | −0.106% | $85K | $922K | 10x | as long as short |
| Binance MSTRUSDT | +0.0435% | 8h | 166.16 | −0.024% | $87.2M | $519.2M | 50x | as long as short |
| RISEx MSTR/USDC | +0.0436% | 1h | 166.17 | −0.018% | $274K | $348K | 10x | as long as short |
| BloFin MSTR-USDT | +0.0567% | 8h | 166.06 | −0.084% | $1.1M | $2.0M | 20x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0593% | 1h | 166.19 | −0.006% | $283K | $184K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0632% | 4h | 165.87 | −0.202% | $49K | $4.6M | 10x | as long as short |
| Arcus MSTR-USDlong | +0.0824% | 1h | 166.20 | long leg | $26K | $63K | 10x |
Ondo Perps MSTR-USD.P
Nado MSTR-PERP
Paradex MSTR-USD-PERP
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Bybit MSTRUSDT
tradeXYZ xyz:MSTR
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Phoenix MSTR
Variational Omni MSTR
GRVT MSTR_USDT_Perp
Binance MSTRUSDT
RISEx MSTR/USDC
BloFin MSTR-USDT
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC