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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.022%
Price spread now: BloFin against Binance−0.006%7-day average +0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$280.277% of the position
Long on BinanceShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.218%+$22 on $10k
Price spread, last 4 days (all we have)−0.209%−$21 · spread now −0.006%, 7d avg +0.016%
Together, before fees+0.009%+$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. BloFin is 0.022% cheaper against Binance than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.016%). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$4 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance MSTRUSDT163.180.0232pay 0.0232% / 8h1h 26m$83.9M$627.5M50x
ShortBloFin MSTR-USDT163.170.0352get 0.0352% / 8h1h 26m$1.0M$2.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Binance. 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
$25.2
Price spread: −0.006% → +0.016%
−$2.23
Slippage, 4 orders
−$5.7
Fee Binance: 5 bp × 2 orders
−$10
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$4.73
Costs to cover
0.277%
Break-even
8.3 days
Slippage from Binance: live order book, 2 min ago; BloFin: live order book, 6 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 Binance live order book, 2 min ago0.61 bp5.7 bp −$68.9 bp −$8932.4 bp −$3,238doesn't fit
Sell BloFin live order book, 6 min ago0.31 bp6.8 bp −$710.3 bp −$10325.8 bp −$2,576doesn'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−0.0940%8h163.35+0.104%$28.8M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.17−0.006%$4.7M$19.6M50xas long as short
Phemex MSTRUSDT0.0000%4h163.07−0.067%$2.7M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h162.99−0.119%$508K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.775%$8K$26K30xas long as short
Aster MSTRUSDT+0.0036%8h163.09−0.053%$1.8M$8.7M50xas long as short
Arcus MSTR-USD+0.0040%1h162.92−0.159%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h162.69−0.300%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h162.97−0.129%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.07−0.067%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.82−0.221%$849K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.04−0.086%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.05−0.077%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.00−0.110%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.70−0.294%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.180.000%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.12−0.037%$135—10xas long as short
OKX MSTR-USDT-SWAP+0.0150%8h163.15−0.018%$20.7M$100.3M50xas long as short
Variational Omni MSTR+0.0151%8h162.75−0.266%$1.2M$2.1M—as long as short
Lighter MSTR+0.0152%1h163.06−0.074%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.017%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0166%8h163.01−0.102%$65—5xas long as short
Binance MSTRUSDTlong+0.0232%8h163.18long leg$83.9M$627.5M50x
GRVT MSTR_USDT_Perp+0.0242%8h162.87−0.190%$77K$878K10xas long as short
tradeXYZ xyz:MSTR+0.0278%1h163.03−0.092%$54.1M$37.4M10xas long as short
Phoenix MSTR+0.0328%1h162.77−0.251%$55K$223K10xas long as short
BloFin MSTR-USDTshort+0.0352%8h163.17−0.006%$1.0M$2.1M20x
Nado MSTR-PERP+0.0354%1h162.89−0.178%$130K$157K3xas long as short
RISEx MSTR/USDC+0.0381%1h163.12−0.037%$264K$428K10xas long as short
Bybit MSTRUSDT+0.0385%8h163.16−0.012%$16.8M$41.8M50xas long as short
edgeX MSTRUSDC+0.0496%4h162.92−0.162%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1039%1h163.12−0.037%$277K$437K10xas long as short