MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0300%/8h= +32.8% APRnext payment +$0.37 per $10,000 · paid last 24h −0.027%

Price spread now: Phoenix against Arcus+0.002%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now +0.002%, 7d avg −0.003%

Together, before fees+0.369%+$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: +$9 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 0.023% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	163.95	0.0040	pay 0.0005% / 1h	21m 08s	$26K	$110K	10x
Short	Phoenix MSTR	163.95	0.0340	get 0.0042% / 1h	21m 08s	$56K	$226K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Arcus. 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 ArcusbpFee PhoenixbpOrdersPrice spread, now +0.002%Rate

Funding earned: $62.92
Price spread: +0.002% → −0.003%: $0.51
Slippage, 4 orders: −$32.3
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $19.63
Costs to cover: 0.438%
Break-even: 4.8 days

Slippage from Arcus: live order book, 32 min ago; Phoenix: live order book, 29 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 Arcus live order book, 32 min ago	6.07 bp	10.0 bp −$10	39.7 bp −$397	doesn't fit	doesn't fit
Sell Phoenix live order book, 29 min ago	3.65 bp	11.4 bp −$11	23.7 bp −$237	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
Bitget MSTRUSDT	−0.0948%	8h	164.17	+0.134%	$27.3M	$116.3M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.00	+0.031%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.05	+0.061%	$4.6M	$19.2M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.97	+0.012%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	163.95	0.000%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.79	−0.098%	$588K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.288%	$8K	$26K	30x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	163.95	long leg	$26K	$110K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	163.74	−0.128%	—	$1.7M	25x	as long as short
OKX MSTR-USDT-SWAP	+0.0046%	8h	164.05	+0.061%	$20.8M	$99.0M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	163.97	+0.012%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.91	−0.024%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.54	−0.250%	$846K	$3.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0065%	8h	163.98	+0.019%	$66	—	5x	as long as short
QFEX MSTR-USD	+0.0067%	1h	163.95	0.000%	$1.4M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.93	−0.015%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.91	−0.024%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.77	−0.110%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.01	+0.037%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.03	+0.046%	$136	—	10x	as long as short
Variational Omni MSTR	+0.0106%	8h	163.95	+0.003%	$1.2M	$2.1M	—	as long as short
Binance MSTRUSDT	+0.0165%	8h	164.02	+0.043%	$86.6M	$617.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.88	−0.043%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0171%	8h	164.00	+0.031%	$75K	$825K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.03	+0.049%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0255%	1h	163.82	−0.082%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0260%	1h	163.99	+0.024%	$54.6M	$37.1M	10x	as long as short
BloFin MSTR-USDT	+0.0285%	8h	164.10	+0.091%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0325%	8h	164.07	+0.073%	$16.6M	$41.1M	50x	as long as short
Phoenix MSTRshort	+0.0340%	1h	163.95	+0.002%	$56K	$226K	10x
edgeX MSTRUSDC	+0.0382%	4h	163.84	−0.070%	$49K	$5.3M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0665%	1h	164.08	+0.079%	$279K	$438K	10x	as long as short