MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0342%/8h= −37.5% APRnext payment −$3.42 per $10,000 · paid last 24h +0.005%

Price spread now: Aster against Bybit−0.025%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 7 days−0.013%−$1 · spread now −0.025%, 7d avg −0.016%

Together, before fees−0.137%+ Points / potential airdropAster: Stage 5 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.42 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	Bybit MSTRUSDT	165.68	0.0342	pay 0.0342% / 8h	5h 09m	$17.3M	$40.6M	50x
Short	Aster MSTRUSDT	165.64	0	get 0.0000% / 8h	5h 09m	$1.9M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$71.86
Price spread: −0.025% → −0.016%: −$0.95
Slippage, 4 orders: −$10.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$102.52
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Aster: live order book, 5 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 Bybit live order book, 5 min ago	0.60 bp	9.1 bp −$9	14.3 bp −$143	119.2 bp −$11.9K	doesn't fit
Sell Aster live order book, 5 min ago	0.30 bp	4.3 bp −$4	28.0 bp −$280	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	−0.0881%	8h	165.69	+0.006%	$27.8M	$114.7M	25x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	165.64	−0.025%	$1.9M	$8.5M	50x
Gate MSTR_USDT	0.0000%	8h	165.67	−0.006%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.71	+0.018%	$2.8M	$73K	10x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.61	−0.042%	$20.8M	$100.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.58	−0.060%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.53	−0.091%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.209%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.69	+0.006%	$27K	$110K	10x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.63	−0.029%	$1.2M	$2.1M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.88	+0.121%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.55	−0.078%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.60	−0.048%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.50	−0.109%	$882K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.62	−0.036%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USD	+0.0078%	1h	165.63	−0.030%	$44K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.54	−0.087%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.62	−0.036%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.39	−0.175%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.67	−0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.63	−0.029%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0111%	8h	165.60	−0.048%	$88.2M	$616.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0134%	8h	165.60	−0.049%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0166%	8h	165.80	+0.072%	$79K	$758K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.103%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	165.52	−0.094%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0231%	8h	165.61	−0.042%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.70	+0.012%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.63	−0.031%	$56K	$227K	10x	as long as short
Bybit MSTRUSDTlong	+0.0342%	8h	165.68	long leg	$17.3M	$40.6M	50x
Deribit MSTR_USDC-PERPETUAL	+0.0475%	1h	165.71	+0.018%	$282K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0485%	4h	165.62	−0.034%	$51K	$5.4M	10x	as long as short