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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h −0.009%
Price spread now: Nado against Aster−0.158%108s7-day average +0.004% · 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—prices read too far apart to compare
costs, in and out, $10k−$880.877% of the position
Long on AsterShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.050%−$5 on $10k
Price spread, last 4 days (all we have)+0.350%+$35 · spread now −0.158%, 7d avg +0.004%
Together, before fees+0.300%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$30 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.163% cheaper against Aster than usual: you would sell low and buy high (spread −0.158% now, against its 7-day average of +0.004%). If the spread goes back, that is −$16 on $10k: about 46 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 3 days funding on this pair cost −0.050%, so the current rate has only just turned in your favour. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.050% in total (about -5.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster MSTRUSDT163.290.0018pay 0.0018% / 8h1h 49m$1.8M$8.7M50x
ShortNado MSTR-PERP163.030.0302get 0.0038% / 1h49m 40s$130K$157K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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

Funding earned
$59.6
Price spread: −0.158% → +0.004%
−$16.25
Slippage, 4 orders
−$72.74
Fee Aster: 4 bp × 2 orders
−$8
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$44.4
Costs to cover
0.877%
Break-even
12.2 days
Slippage from Aster: live order book, 4 min ago; Nado: live order book, 58 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster live order book, 4 min ago2.76 bp19.0 bp −$19229.7 bp −$2,297doesn't fitdoesn't fit
Sell Nado live order book, 58 min ago8.25 bp31.4 bp −$3185.6 bp −$856doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0891%8h163.52+0.139%$28.7M$119.1M25xas long as short
Gate MSTR_USDT0.0000%8h163.36+0.041%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.48+0.115%$2.8M$78K10xas long as short
Aster MSTRUSDTlong+0.0018%8h163.29long leg$1.8M$8.7M50x
Extended MSTR_24_5-USD+0.0032%1h163.12−0.109%$502K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.704%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.34+0.029%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.13−0.099%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.32+0.017%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.29−0.001%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.16−0.081%$842K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.37+0.048%$1.3M$7.3M10xas long as short
Pacifica MSTR+0.0100%1h163.24−0.032%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.33+0.023%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.11−0.112%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.38+0.054%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.39+0.058%$136—10xas long as short
OKX MSTR-USDT-SWAP+0.0123%8h163.27−0.014%$20.7M$100.6M50xas long as short
Variational Omni MSTR+0.0143%8h163.26−0.021%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0145%8h163.27−0.013%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.085%$1.4M$1.1M10xas long as short
Lighter MSTR+0.0192%1h163.22−0.044%$3.5M$2.0M10xas long as short
tradeXYZ xyz:MSTR+0.0198%1h163.24−0.032%$54.1M$37.3M10xas long as short
Binance MSTRUSDT+0.0220%8h163.28−0.008%$83.8M$628.6M50xas long as short
edgeX MSTRUSDC+0.0223%4h163.25−0.026%$46K$5.4M10xas long as short
GRVT MSTR_USDT_Perp+0.0229%8h163.32+0.016%$83K$865K10xas long as short
Nado MSTR-PERPshort+0.0302%1h163.03−0.158%$130K$157K3x
Phoenix MSTR+0.0328%1h163.31+0.010%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0337%8h163.32+0.017%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0378%8h163.37+0.048%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.37+0.047%$263K$437K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1098%1h163.43+0.084%$278K$437K10xas long as short