MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.2% APRnext payment −$0.06 per $10,000 · paid last 24h +0.086%

Price spread now: Arcus against Coinbase International+0.172%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Coinbase International Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.172%, 7d avg +0.089%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.083% dearer against Coinbase International than usual: you sell high and buy low (spread +0.172% now, against its 7-day average of +0.089%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.8 days. At the pace of the last 3 days (−0.022% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	168.46	0.0088	pay 0.0011% / 1h	25m 59s	$1.4M	$1.1M	10x
Short	Arcus MSTR-USD	168.75	0.0040	get 0.0005% / 1h	25m 59s	$27K	$117K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Coinbase International. 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 Coinbase InternationalbpFee ArcusbpOrdersPrice spread, now +0.172%Rate

Funding earned: −$10.02
Price spread: +0.172% → +0.089%: $8.3
Slippage, 4 orders: −$28.68
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$44.9
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Arcus: live order book, 47 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 Coinbase International live order book, 3 min ago	5.04 bp	10.0 bp −$10	14.4 bp −$144	doesn't fit	doesn't fit
Sell Arcus live order book, 47 min ago	6.51 bp	10.3 bp −$10	35.4 bp −$354	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
Nado MSTR-PERP	−0.0040%	1h	168.60	+0.081%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.82	+0.212%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.86	+0.237%	$21.8M	$101.0M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.82	+0.214%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.89	+0.255%	$28.5M	$113.7M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.83	+0.218%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.69	+0.137%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.93	+0.279%	$2.9M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0025%	8h	168.84	+0.226%	$89.0M	$614.6M	50x	as long as short
BloFin MSTR-USDT	+0.0028%	8h	168.61	+0.089%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	168.83	+0.220%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.68	+0.131%	$579K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.74	+0.166%	$1.4M	$9.2M	10x	as long as short
Arcus MSTR-USDshort	+0.0040%	1h	168.75	+0.172%	$27K	$117K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	168.74	+0.166%	—	$1.8M	25x	as long as short
Bybit MSTRUSDT	+0.0047%	8h	168.85	+0.232%	$15.1M	$39.2M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.68	+0.131%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.75	+0.172%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.44	−0.012%	$736K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0088%	1h	168.46	long leg	$1.4M	$1.1M	10x
Paradex MSTR-USD-PERP	+0.0090%	8h	168.69	+0.137%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.72	+0.152%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.72	+0.154%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.87	+0.243%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.78	+0.190%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.74	+0.164%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	168.79	+0.196%	$56.9M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.522%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.64	+0.104%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.77	+0.184%	$275K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0424%	4h	168.75	+0.173%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1232%	1h	168.93	+0.279%	$287K	$438K	10x	as long as short