Funding you earn now, next payment 08:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.63 per $10,000 · paid last 24h −0.010%
Price spread now: OKX against Binance0.000%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$240.243% of the position
Funding, last 7 days+0.022%+$2 on $10k
+Price spread, last 2 days (all we have)+0.009%+$1 · spread now 0.000%, 7d avg +0.004%
=The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MSTRUSDT | 164.90 | 0.0063 | pay 0.0063% / 8h | 6h 17m | $87.9M | $624.2M | 50x |
| Short | OKX MSTR-USDT-SWAP | 164.90 | 0 | get 0.0000% / 8h | 6h 17m | $20.9M | $100.9M | 50x |
Binance MSTRUSDT
OKX MSTR-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. 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
- −$13.16
- Price spread: 0.000% → +0.004%
- −$0.41
- Slippage, 4 orders
- −$4.34
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$37.9
- Costs to cover
- 0.243%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; OKX: live order book, 1 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 Binance live order book, 11 min ago | 0.30 bp | 5.8 bp −$6 | 8.4 bp −$84 | 24.2 bp −$2,418 | doesn't fit |
| Sell OKX live order book, 1 min ago | 0.30 bp | 6.5 bp −$6 | 12.8 bp −$128 | 69.3 bp −$6,930 | doesn't fit |
MSTR on 31 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 | −0.1067% | 8h | 165.03 | +0.079% | $27.6M | $115.8M | 25x | as long as short |
| Gate MSTR_USDT | −0.0166% | 8h | 164.95 | +0.030% | $4.6M | $19.1M | 50x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.95 | +0.029% | $1.2M | $6.1M | 50x | as long as short |
| OKX MSTR-USDT-SWAPshort | 0.0000% | 8h | 164.90 | 0.000% | $20.9M | $100.9M | 50x | |
| RISEx MSTR/USDC | 0.0000% | 1h | 164.65 | −0.152% | $270K | $447K | 10x | as long as short |
| Variational Omni MSTR | 0.0000% | 8h | 164.70 | −0.119% | $1.2M | $2.1M | — | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 165.07 | +0.103% | $2.8M | $68K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.72 | −0.106% | $596K | $2.0M | 10x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.78 | −0.073% | $26K | $113K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.61 | −0.176% | — | $1.8M | 25x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Aster MSTRUSDT
RISEx MSTR/USDC
Variational Omni MSTR
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Arcus MSTR-USD
Vest MSTR-USD-PERPShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.48 | −0.255% | $910K | $4.5M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0062% | 1h | 164.67 | −0.139% | $43K | $3K | 10x | as long as short |
| Binance MSTRUSDTlong | +0.0063% | 8h | 164.90 | long leg | $87.9M | $624.2M | 50x | |
| QFEX MSTR-USD | +0.0064% | 1h | 164.75 | −0.091% | $1.4M | $8.1M | 10x | as long as short |
| Lighter MSTR | +0.0072% | 1h | 165.00 | +0.061% | $3.5M | $1.9M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0090% | 1h | 164.62 | −0.170% | $384K | $2.7M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.73 | −0.104% | $101K | $89K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.76 | −0.085% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.56 | −0.206% | $4K | $188K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.65 | −0.152% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.77 | −0.080% | $137 | — | 10x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0148% | 8h | 165.00 | +0.060% | $79K | $810K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 164.40 | −0.303% | $1.4M | $1.1M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0175% | 8h | 164.73 | −0.102% | $66 | — | 5x | as long as short |
| tradeXYZ xyz:MSTR | +0.0242% | 1h | 164.84 | −0.036% | $55.2M | $36.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0341% | 1h | 169.34 | +2.693% | $8K | $26K | 30x | as long as short |
| Nado MSTR-PERP | +0.0366% | 1h | 164.47 | −0.259% | $111K | $143K | 3x | as long as short |
| Phoenix MSTR | +0.0381% | 1h | 164.70 | −0.124% | $55K | $219K | 10x | as long as short |
| Bybit MSTRUSDT | +0.0386% | 8h | 164.96 | +0.036% | $17.1M | $41.2M | 50x | as long as short |
| edgeX MSTRUSDC | +0.0596% | 4h | 164.80 | −0.062% | $48K | $5.5M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.1449% | 1h | 165.08 | +0.109% | $281K | $438K | 10x | as long as short |
Ondo Perps MSTR-USD.P
SoDEX MSTR-USD
QFEX MSTR-USD
Lighter MSTR
Polymarket Perps MSTR-USD
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
Paradex MSTR-USD-PERP
tradeXYZ xyz:MSTR
Injective MSTR/USDC PERP
Nado MSTR-PERP
Phoenix MSTR
Bybit MSTRUSDT
edgeX MSTRUSDC
Deribit MSTR_USDC-PERPETUAL