MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0191%/8h= −20.9% APRnext payment −$0.24 per $10,000 · paid last 24h −0.182%

Price spread now: Pacifica against Deribit−0.032%7-day average −0.043% · 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−$39as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Deribit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.521%−$52 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.032%, 7d avg −0.043%

Together, before fees−0.440%+ Points / potential airdropPacifica: Active · farm board−$44 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.043%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	166.52	0.0291	pay 0.0036% / 1h	55m 08s	$283K	$209K	10x
Short	Pacifica MSTR	166.47	0.0100	get 0.0013% / 1h	55m 08s	$102K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Deribit. 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 DeribitbpFee PacificabpOrdersPrice spread, now −0.032%Rate

Funding earned: −$40.06
Price spread: −0.032% → −0.043%: $1.07
Slippage, 4 orders: −$24.6
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$78.59
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Deribit: live order book, 56 min ago; Pacifica: live order book, 55 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 Deribit live order book, 56 min ago	8.46 bp	12.0 bp −$12	16.9 bp −$169	doesn't fit	doesn't fit
Sell Pacifica live order book, 55 min ago	1.09 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.781%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.58	+0.036%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.59	+0.042%	$32.1M	$106.3M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.54	+0.012%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.47	−0.030%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.41	−0.065%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.79	+0.162%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.50	−0.012%	$1.3M	$6.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.51	−0.006%	$384K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.52	0.000%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.26	−0.156%	$876K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.444%	$1.4M	$390K	10x	as long as short
Nado MSTR-PERP	+0.0073%	1h	166.46	−0.036%	$127K	$133K	3x	as long as short
Pacifica MSTRshort	+0.0100%	1h	166.47	−0.032%	$102K	$74K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	166.40	−0.072%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.15	−0.222%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.58	+0.036%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.59	+0.040%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0115%	8h	166.50	−0.012%	$67	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0213%	1h	166.51	−0.006%	$55.0M	$34.5M	10x	as long as short
edgeX MSTRUSDC	+0.0217%	4h	166.48	−0.022%	$48K	$4.9M	10x	as long as short
Bybit MSTRUSDT	+0.0234%	8h	166.56	+0.024%	$17.2M	$38.2M	50x	as long as short
Aster MSTRUSDT	+0.0255%	8h	166.56	+0.023%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0289%	8h	166.55	+0.018%	$21.6M	$84.4M	50x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0291%	1h	166.52	long leg	$283K	$209K	10x
Variational Omni MSTR	+0.0348%	8h	166.45	−0.041%	$1.2M	$1.6M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.40	−0.070%	$56K	$213K	10x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.53	+0.006%	$275K	$353K	10x	as long as short
Binance MSTRUSDT	+0.0440%	8h	166.53	+0.004%	$87.2M	$539.6M	50x	as long as short
BloFin MSTR-USDT	+0.0570%	8h	166.52	0.000%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0578%	8h	166.54	+0.011%	$87K	$855K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.61	+0.054%	$26K	$71K	10x	as long as short