MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0246%/8h= −26.9% APRnext payment −$0.31 per $10,000 · paid last 24h −0.200%

Price spread now: Vest against Deribit+0.084%7-day average −0.884% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.600%−$60 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.084%, 7d avg −0.884%

Together, before fees−0.654%+ Points / potential airdropVest: Active · farm board−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.969% dearer against Deribit than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of −0.884%): +$97 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 4 days (−0.600% in total) that is about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	166.21	0.0292	pay 0.0036% / 1h	46m 06s	$283K	$204K	10x
Short	Vest MSTR-USD-PERP	166.35	0.0046	get 0.0006% / 1h	46m 06s	—	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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

Position, each leg$Hold fordaysFee DeribitbpFee VestbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$51.68
Price spread: +0.084% → −0.884%: $96.85
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Vest: 1 bp × 2 orders: −$2
Net: $36.17
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Deribit: live order book, just now; Vest: no order-book sample. Net counts fees only.

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, just now	7.22 bp	11.3 bp −$11	12.8 bp −$128	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.596%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.18	−0.018%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.17	−0.024%	$32.0M	$105.1M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.20	−0.006%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.15	−0.036%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.12	−0.055%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	166.35	+0.084%	—	$1.7M	25x
Nado MSTR-PERP	+0.0048%	1h	166.15	−0.036%	$127K	$127K	3x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.18	−0.018%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.18	−0.018%	$384K	$2.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	166.20	−0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.02	−0.114%	$870K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.259%	$1.4M	$364K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.20	−0.005%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.18	−0.018%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.16	−0.030%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.21	0.000%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.24	+0.018%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	166.21	−0.003%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0202%	1h	166.11	−0.060%	$54.9M	$34.4M	10x	as long as short
Bybit MSTRUSDT	+0.0207%	8h	166.19	−0.012%	$17.1M	$37.9M	50x	as long as short
Aster MSTRUSDT	+0.0283%	8h	166.24	+0.016%	$1.8M	$7.0M	50x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0292%	1h	166.21	long leg	$283K	$204K	10x
OKX MSTR-USDT-SWAP	+0.0296%	8h	166.12	−0.054%	$21.6M	$83.3M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.31	+0.061%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0364%	8h	166.38	+0.104%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.25	+0.021%	$274K	$350K	10x	as long as short
Binance MSTRUSDT	+0.0467%	8h	166.12	−0.054%	$87.1M	$534.3M	50x	as long as short
BloFin MSTR-USDT	+0.0601%	8h	166.14	−0.042%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0635%	8h	166.33	+0.072%	$79K	$853K	10x	as long as short
edgeX MSTRUSDC	+0.0734%	4h	166.28	+0.044%	$48K	$4.9M	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.29	+0.048%	$26K	$71K	10x	as long as short