Funding you earn now, next payment 07:00 UTC−0.0337%/8h= −36.9% APRpaid last 24h −0.027%
Price spread now: Ondo Perps against Bybit−0.147%57s7-day average −0.077% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 7 days−0.033%−$3 · spread now −0.147%, 7d avg −0.077%
=Together, before fees−0.064%+ Points / potential airdropOndo Perps: Active · farm board−$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Ondo Perps is 0.069% cheaper against Bybit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.077%). Swap the legs. The two prices were read 57 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 7 days it paid -0.031% in total (about -1.6% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSTRUSDT | 163.75 | 0.0387 | pay 0.0387% / 8h | 1h 15m | $17.1M | $41.9M | 50x |
| Short | Ondo Perps MSTR-USD.P | 163.51 | 0.0050 | get 0.0006% / 1h | 15m 42s | $850K | $3.9M | 10x |
Bybit MSTRUSDT
Ondo Perps MSTR-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps against Bybit. 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
- −$70.74
- Price spread: −0.147% → −0.077%
- −$6.92
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$93.66
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 3 min ago; Ondo Perps: no order-book sample. Net counts fees only.
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, 3 min ago | 0.31 bp | 10.9 bp −$11 | 14.7 bp −$147 | 126.5 bp −$12.7K | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0759% | 8h | 163.85 | +0.061% | $29.2M | $118.9M | 25x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.78 | +0.018% | $4.7M | $19.7M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.76 | +0.006% | $2.8M | $79K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.56 | −0.113% | $511K | $2.0M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.414% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.79 | +0.024% | $26K | $113K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 163.73 | −0.012% | — | $1.8M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.63 | −0.073% | $379K | $2.7M | 10x | as long as short |
| Ondo Perps MSTR-USD.Pshort | +0.0050% | 1h | 163.51 | −0.147% | $850K | $3.9M | 10x | |
| Aster MSTRUSDT | +0.0053% | 8h | 163.64 | −0.068% | $1.8M | $8.7M | 50x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
Aster MSTRUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | +0.0057% | 1h | 163.72 | −0.018% | $1.3M | $7.2M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.67 | −0.048% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.64 | −0.067% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.62 | −0.079% | $5K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.72 | −0.018% | $2K | $13K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.74 | −0.008% | $136 | — | 10x | as long as short |
| Lighter MSTR | +0.0120% | 1h | 163.64 | −0.067% | $3.5M | $2.0M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0125% | 1h | 163.66 | −0.055% | $43K | $3K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0152% | 1h | 161.52 | −1.362% | $1.4M | $1.1M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0165% | 8h | 163.70 | −0.031% | $20.9M | $100.6M | 50x | as long as short |
| Paradex MSTR-USD-PERP | +0.0168% | 8h | 163.69 | −0.034% | $65 | — | 5x | as long as short |
| Variational Omni MSTR | +0.0175% | 8h | 163.69 | −0.039% | $1.2M | $2.1M | — | as long as short |
| tradeXYZ xyz:MSTR | +0.0249% | 1h | 163.65 | −0.061% | $54.2M | $37.2M | 10x | as long as short |
| Binance MSTRUSDT | +0.0250% | 8h | 163.73 | −0.012% | $84.2M | $626.9M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0267% | 8h | 163.79 | +0.027% | $84K | $878K | 10x | as long as short |
| Phoenix MSTR | +0.0328% | 1h | 163.73 | −0.014% | $56K | $223K | 10x | as long as short |
| Nado MSTR-PERP | +0.0364% | 1h | 163.59 | −0.100% | $131K | $157K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0371% | 8h | 163.87 | +0.073% | $1.0M | $2.1M | 20x | as long as short |
| RISEx MSTR/USDC | +0.0381% | 1h | 163.74 | −0.006% | $265K | $428K | 10x | as long as short |
| Bybit MSTRUSDTlong | +0.0387% | 8h | 163.75 | long leg | $17.1M | $41.9M | 50x | |
| Deribit MSTR_USDC-PERPETUAL | +0.0667% | 1h | 163.74 | −0.006% | $278K | $437K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0965% | 4h | 163.78 | +0.017% | $46K | $5.4M | 10x | as long as short |
QFEX MSTR-USD
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Lighter MSTR
SoDEX MSTR-USD
Coinbase International MSTR-PERP-INTX
OKX MSTR-USDT-SWAP
Paradex MSTR-USD-PERP
Variational Omni MSTR
tradeXYZ xyz:MSTR
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
Phoenix MSTR
Nado MSTR-PERP
BloFin MSTR-USDT
RISEx MSTR/USDC
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC