Funding you earn now, next payment 04:00 UTC−0.0559%/8h= −61.2% APRnext payment −$0.70 per $10,000 · paid last 24h −0.145%
Price spread now: tradeXYZ against Deribit−0.024%7-day average −0.076% · 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−$37as in the Price arb table
costs, in and out, $10k−$420.424% of the position
Funding, last 5 days (all we have)−0.454%−$45 on $10k
+Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.024%, 7d avg −0.076%
=Together, before fees−0.371%+ Points / potential airdroptradeXYZ: Active · farm board−$37 on $10k · with fees, hour by hour
The price spread pays, funding is against you. tradeXYZ is 0.052% dearer against Deribit than usual: you sell high and buy low (spread −0.024% now, against its 7-day average of −0.076%): +$5 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 7 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSTR_USDC-PERPETUAL | 164.43 | 0.0785 | pay 0.0098% / 1h | 7m 56s | $280K | $438K | 10x |
| Short | tradeXYZ xyz:MSTR | 164.39 | 0.0226 | get 0.0028% / 1h | 7m 56s | $54.8M | $37.0M | 10x |
Deribit MSTR_USDC-PERPETUAL
tradeXYZ xyz:MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Deribit. 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
- −$117.41
- Price spread: −0.024% → −0.076%
- $5.2
- Slippage, 4 orders
- −$17.41
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$154.62
- Costs to cover
- 0.424%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 51 min ago; tradeXYZ: live order book, 10 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, 51 min ago | 6.66 bp | 10.2 bp −$10 | 11.7 bp −$117 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 10 min ago | 0.61 bp | 10.9 bp −$11 | 13.4 bp −$134 | 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 | −0.0935% | 8h | 164.56 | +0.079% | $27.8M | $115.1M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.38 | −0.030% | $1.8M | $8.5M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.42 | −0.006% | $4.6M | $18.9M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.49 | +0.036% | $2.8M | $74K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0013% | 8h | 164.44 | +0.006% | $20.6M | $99.4M | 50x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.35 | −0.049% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.28 | −0.094% | $595K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +2.986% | $8K | $26K | 30x | as long as short |
| RISEx MSTR/USDC | +0.0034% | 1h | 164.43 | +0.002% | $267K | $448K | 10x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.60 | +0.103% | $26K | $109K | 10x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
OKX MSTR-USDT-SWAP
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
RISEx MSTR/USDC
Arcus MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.34 | −0.055% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.34 | −0.055% | $381K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.40 | −0.018% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.24 | −0.116% | $856K | $3.9M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 164.45 | +0.012% | $1.4M | $7.4M | 10x | as long as short |
| Variational Omni MSTR | +0.0080% | 8h | 164.56 | +0.082% | $1.2M | $2.1M | — | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.39 | −0.027% | $101K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.33 | −0.061% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.43 | 0.000% | $6K | $186K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.37 | −0.036% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.39 | −0.022% | $136 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0134% | 8h | 164.37 | −0.037% | $66 | — | 5x | as long as short |
| Binance MSTRUSDT | +0.0145% | 8h | 164.44 | +0.006% | $87.3M | $615.9M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0160% | 8h | 164.58 | +0.090% | $76K | $780K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 164.12 | −0.189% | $1.4M | $1.1M | 10x | as long as short |
| Phoenix MSTR | +0.0213% | 1h | 164.54 | +0.066% | $56K | $226K | 10x | as long as short |
| tradeXYZ xyz:MSTRshort | +0.0226% | 1h | 164.39 | −0.024% | $54.8M | $37.0M | 10x | |
| Nado MSTR-PERP | +0.0240% | 1h | 164.28 | −0.090% | $121K | $148K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0265% | 8h | 164.73 | +0.182% | $1.0M | $2.0M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0346% | 8h | 164.49 | +0.036% | $16.9M | $40.8M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUALlong | +0.0785% | 1h | 164.43 | long leg | $280K | $438K | 10x | |
| edgeX MSTRUSDC | +0.0908% | 4h | 164.55 | +0.073% | $49K | $5.4M | 10x | as long as short |
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
Variational Omni MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
Phoenix MSTR
Nado MSTR-PERP
BloFin MSTR-USDT
Bybit MSTRUSDT
edgeX MSTRUSDC