MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0120%/8h= −13.1% APRnext payment −$0.15 per $10,000 · paid last 24h −0.014%

Price spread now: Extended against Coinbase International+0.731%7-day average +0.015% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$38as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)−0.755%−$76 · spread now +0.731%, 7d avg +0.015%

Together, before fees−0.843%+ Points / potential airdropExtended: Active · farm board−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.715% dearer against Coinbase International than usual: you sell high and buy low (spread +0.731% now, against its 7-day average of +0.015%): +$72 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 20 days. At the pace of the last 7 days (−0.087% in total) that is about 57 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	161.52	0.0152	pay 0.0019% / 1h	45m 45s	$1.4M	$1.1M	10x
Short	Extended MSTR_24_5-USD	162.70	0.0032	get 0.0004% / 1h	45m 45s	$501K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now +0.731%Rate

Funding earned: −$25.2
Price spread: +0.731% → +0.015%: $71.52
Slippage, 4 orders: −$18.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $12.91
Costs to cover: 0.334%
Break-even: from the start

Slippage from Coinbase International: live order book, 3 min ago; Extended: live order book, 3 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	4.91 bp	9.9 bp −$10	14.6 bp −$146	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	2.15 bp	5.2 bp −$5	16.1 bp −$161	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	−0.0885%	8h	163.04	+0.941%	$28.6M	$119.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.93	+0.873%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.16	+1.015%	$2.7M	$78K	10x	as long as short
edgeX MSTRUSDC	+0.0005%	4h	163.27	+1.081%	$46K	$5.4M	10x	as long as short
Aster MSTRUSDT	+0.0022%	8h	162.90	+0.853%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	162.70	+0.731%	$501K	$2.0M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.842%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.22	+1.053%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.69	+0.724%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.86	+0.830%	$376K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	162.84	+0.817%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.98	+0.904%	$841K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.92	+0.867%	$1.3M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.92	+0.867%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.83	+0.811%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.10	+0.978%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.89	+0.848%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.92	+0.868%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0126%	8h	162.87	+0.836%	$20.7M	$100.3M	50x	as long as short
Lighter MSTR	+0.0136%	1h	162.79	+0.786%	$3.5M	$2.0M	10x	as long as short
Variational Omni MSTR	+0.0143%	8h	163.26	+1.076%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0146%	8h	162.87	+0.835%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0152%	1h	161.52	long leg	$1.4M	$1.1M	10x
tradeXYZ xyz:MSTR	+0.0218%	1h	162.74	+0.755%	$53.9M	$37.3M	10x	as long as short
Binance MSTRUSDT	+0.0221%	8h	162.86	+0.830%	$83.6M	$628.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0230%	8h	163.31	+1.108%	$79K	$876K	10x	as long as short
Nado MSTR-PERP	+0.0323%	1h	162.75	+0.764%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0328%	1h	163.25	+1.070%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0340%	8h	163.05	+0.947%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0381%	8h	162.93	+0.873%	$16.7M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.93	+0.870%	$262K	$437K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0979%	1h	162.91	+0.861%	$277K	$437K	10x	as long as short