Funding you earn now, next payment 05:00 UTC+0.0098%/8h= +10.7% APRnext payment +$0.12 per $10,000 · paid last 24h +0.038%
Price spread now: tradeXYZ against Coinbase International+1.492%50s7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$350.348% of the position
Funding, last 7 days−0.034%−$3 on $10k
+Price spread, last 4 days (all we have)−1.489%−$149 · spread now +1.492%, 7d avg +0.037%
=Together, before fees−1.523%+ Points / potential airdroptradeXYZ: Active · farm board−$152 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and tradeXYZ is 1.455% dearer against Coinbase International than usual: you sell high and buy low: +$145 more if the spread goes back to its 7-day average of +0.037%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSTR-PERP-INTX | 161.52 | 0.0168 | pay 0.0021% / 1h | 10m 29s | $1.4M | $1.1M | 10x |
| Short | tradeXYZ xyz:MSTR | 163.93 | 0.0266 | get 0.0033% / 1h | 10m 29s | $54.4M | $37.4M | 10x |
Coinbase International MSTR-PERP-INTX
tradeXYZ xyz:MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.55
- Price spread: +1.492% → +0.037%
- $145.48
- Slippage, 4 orders
- −$6.78
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- $131.25
- Costs to cover
- 0.348%
- Break-even
- from the start
Slippage from Coinbase International: live order book, 3 min ago; tradeXYZ: live order book, 9 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 | 2.75 bp | 8.1 bp −$8 | 15.1 bp −$151 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 9 min ago | 0.31 bp | 9.3 bp −$9 | 12.5 bp −$125 | 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 | −0.1181% | 8h | 164.23 | +1.678% | $28.1M | $118.8M | 25x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.15 | +1.628% | $4.7M | $19.8M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.88 | +1.461% | $2.8M | $78K | 10x | as long as short |
| Aster MSTRUSDT | +0.0016% | 8h | 163.98 | +1.520% | $1.8M | $8.7M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.0024% | 1h | 163.89 | +1.467% | — | $1.8M | 25x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.85 | +1.446% | $506K | $2.0M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +4.842% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.57 | +1.269% | $26K | $113K | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.98 | +1.523% | $378K | $2.7M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 163.82 | +1.424% | $874K | $3.9M | 10x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Aster MSTRUSDT
Vest MSTR-USD-PERP
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Polymarket Perps MSTR-USD
Ondo Perps MSTR-USD.PShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | +0.0054% | 1h | 164.00 | +1.535% | $1.3M | $7.3M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 164.06 | +1.569% | $264K | $444K | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.95 | +1.502% | $101K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.94 | +1.498% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.23 | +1.059% | $5K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.06 | +1.573% | $4K | $10K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.03 | +1.552% | $136 | — | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0116% | 8h | 164.14 | +1.622% | $20.8M | $101.2M | 50x | as long as short |
| Variational Omni MSTR | +0.0144% | 8h | 163.96 | +1.508% | $1.2M | $2.1M | — | as long as short |
| Lighter MSTR | +0.0144% | 1h | 163.92 | +1.486% | $3.5M | $2.0M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0146% | 8h | 163.98 | +1.525% | $66 | — | 5x | as long as short |
| Coinbase International MSTR-PERP-INTXlong | +0.0168% | 1h | 161.52 | long leg | $1.4M | $1.1M | 10x | |
| Binance MSTRUSDT | +0.0218% | 8h | 164.08 | +1.582% | $84.2M | $628.8M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0220% | 8h | 163.14 | +1.003% | $79K | $857K | 10x | as long as short |
| tradeXYZ xyz:MSTRshort | +0.0266% | 1h | 163.93 | +1.492% | $54.4M | $37.4M | 10x | |
| SoDEX MSTR-USD | +0.0281% | 1h | 163.77 | +1.393% | $43K | $3K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0282% | 4h | 163.35 | +1.131% | $45K | $5.4M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0337% | 8h | 164.02 | +1.548% | $1.0M | $2.1M | 20x | as long as short |
| Nado MSTR-PERP | +0.0338% | 1h | 163.93 | +1.490% | $131K | $157K | 3x | as long as short |
| Phoenix MSTR | +0.0362% | 1h | 163.21 | +1.046% | $55K | $226K | 10x | as long as short |
| Bybit MSTRUSDT | +0.0377% | 8h | 164.14 | +1.622% | $16.8M | $41.8M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0788% | 1h | 163.99 | +1.529% | $279K | $438K | 10x | as long as short |
QFEX MSTR-USD
RISEx MSTR/USDC
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
OKX MSTR-USDT-SWAP
Variational Omni MSTR
Lighter MSTR
Paradex MSTR-USD-PERP
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
SoDEX MSTR-USD
edgeX MSTRUSDC
BloFin MSTR-USDT
Nado MSTR-PERP
Phoenix MSTR
Bybit MSTRUSDT
Deribit MSTR_USDC-PERPETUAL