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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0546%/8h= −59.8% APRnext payment −$0.68 per $10,000 · paid last 24h −0.172%
Price spread now: Nado against Deribit−0.067%7-day average −0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$750.746% of the position
Long on DeribitShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.600%−$60 on $10k
Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.067%, 7d avg −0.061%
Together, before fees−0.603%+ Points / potential airdropNado: Active · farm board−$60 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit MSTR_USDC-PERPETUAL163.770.0912pay 0.0114% / 1h16m 55s$279K$437K10x
ShortNado MSTR-PERP163.660.0365get 0.0046% / 1h16m 55s$131K$157K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against Deribit. 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

Funding earned
−$114.69
Price spread: −0.067% → −0.061%
−$0.56
Slippage, 4 orders
−$60.57
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$189.83
Costs to cover
0.746%
Break-even
never at this rate
Slippage from Deribit: live order book, 27 min ago; Nado: live order book, 25 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Deribit live order book, 27 min ago6.44 bp9.9 bp −$1011.9 bp −$119doesn't fitdoesn't fit
Sell Nado live order book, 25 min ago7.06 bp28.6 bp −$2985.8 bp −$858doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0779%8h163.98+0.128%$29.2M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.89+0.073%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.88+0.067%$2.8M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.69−0.052%$511K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.401%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.76−0.006%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.73−0.024%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.73−0.024%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.61−0.098%$840K$3.9M10xas long as short
Aster MSTRUSDT+0.0054%8h163.73−0.022%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.78+0.006%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.72−0.031%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.76−0.006%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.62−0.092%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.82+0.031%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.80+0.019%$136—10xas long as short
Lighter MSTR+0.0128%1h163.79+0.012%$3.5M$2.0M10xas long as short
SoDEX MSTR-USD+0.0137%1h163.81+0.024%$43K$3K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.374%$1.4M$1.1M10xas long as short
OKX MSTR-USDT-SWAP+0.0165%8h163.83+0.037%$20.9M$100.7M50xas long as short
Variational Omni MSTR+0.0166%8h163.76−0.008%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0169%8h163.75−0.012%$65—5xas long as short
Binance MSTRUSDT+0.0251%8h163.84+0.043%$84.1M$627.3M50xas long as short
tradeXYZ xyz:MSTR+0.0255%1h163.75−0.012%$54.2M$37.2M10xas long as short
GRVT MSTR_USDT_Perp+0.0267%8h163.79+0.014%$84K$878K10xas long as short
Phoenix MSTR+0.0328%1h163.73−0.026%$56K$223K10xas long as short
Nado MSTR-PERPshort+0.0365%1h163.66−0.067%$131K$157K3x
BloFin MSTR-USDT+0.0371%8h163.87+0.061%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.86+0.054%$266K$427K10xas long as short
Bybit MSTRUSDT+0.0393%8h163.82+0.031%$17.2M$41.9M50xas long as short
Deribit MSTR_USDC-PERPETUALlong+0.0912%1h163.77long leg$279K$437K10x
edgeX MSTRUSDC+0.0965%4h163.78+0.005%$46K$5.4M10xas long as short