Funding you earn now, next payment 22:00 UTC−0.0277%/8h= −30.3% APRnext payment −$0.35 per $10,000 · paid last 24h −0.029%
Price spread now: Coinbase International against Injective−0.230%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.171%+$17 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.230% cheaper against Injective than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.171%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSTR/USDC PERP | 169.32 | 0.0333 | pay 0.0042% / 1h | 5m 21s | $13K | $22K | 30x |
| Short | Coinbase International MSTR-PERP-INTX | 168.93 | 0.0056 | get 0.0007% / 1h | 5m 21s | $1.5M | $1.2M | 10x |
Injective MSTR/USDC PERP
Coinbase International MSTR-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Injective. 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
- −$58.16
- Price spread: −0.230% → 0.000%
- −$23.03
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$91.22
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Coinbase International: live order book, 3 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 3 min ago | 4.44 bp | 10.9 bp −$11 | 17.8 bp −$178 | doesn't fit | doesn't fit |
Injective: 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSTR-PERP | −0.0057% | 1h | 168.85 | −0.276% | $139K | $97K | 3x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 169.03 | −0.172% | $1.2M | $6.1M | 50x | as long as short |
| Binance MSTRUSDT | 0.0000% | 8h | 169.03 | −0.171% | $89.3M | $628.7M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 169.05 | −0.159% | $22.0M | $106.6M | 50x | as long as short |
| RISEx MSTR/USDC | 0.0000% | 1h | 169.04 | −0.162% | $275K | $442K | 10x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 169.02 | −0.177% | $4.8M | $19.5M | 50x | as long as short |
| Variational Omni MSTR | 0.0000% | 8h | 169.11 | −0.123% | $1.2M | $2.4M | — | as long as short |
| GRVT MSTR_USDT_Perp | 0.0000% | 8h | 169.06 | −0.155% | $83K | $875K | 10x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 169.02 | −0.177% | $2.9M | $63K | 10x | as long as short |
| BloFin MSTR-USDT | +0.0003% | 8h | 169.10 | −0.130% | $1.1M | $1.8M | 20x | as long as short |
Nado MSTR-PERP
Aster MSTRUSDT
Binance MSTRUSDT
OKX MSTR-USDT-SWAP
RISEx MSTR/USDC
Gate MSTR_USDT
Variational Omni MSTR
GRVT MSTR_USDT_Perp
Phemex MSTRUSDT
BloFin MSTR-USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter MSTR | +0.0032% | 1h | 168.89 | −0.254% | $3.6M | $2.5M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 168.88 | −0.260% | $585K | $1.8M | 10x | as long as short |
| Bitget MSTRUSDT | +0.0035% | 8h | 169.06 | −0.154% | $28.7M | $119.5M | 25x | as long as short |
| QFEX MSTR-USD | +0.0042% | 1h | 169.04 | −0.165% | $1.5M | $10.2M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 169.03 | −0.171% | — | $2.1M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 168.96 | −0.213% | $398K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 169.04 | −0.165% | $44K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 168.91 | −0.242% | $780K | $5.1M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTXshort | +0.0056% | 1h | 168.93 | −0.230% | $1.5M | $1.2M | 10x | |
| Bybit MSTRUSDT | +0.0065% | 8h | 169.01 | −0.183% | $15.2M | $40.6M | 50x | as long as short |
| Paradex MSTR-USD-PERP | +0.0085% | 8h | 168.97 | −0.205% | $68 | — | 5x | as long as short |
| tradeXYZ xyz:MSTR | +0.0099% | 1h | 168.94 | −0.224% | $57.0M | $37.5M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 168.95 | −0.221% | $104K | $103K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 168.95 | −0.219% | $2.6M | $2.8M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 168.90 | −0.248% | $4K | $398K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 169.02 | −0.177% | $3K | $11K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 169.03 | −0.172% | $140 | — | 10x | as long as short |
| edgeX MSTRUSDC | +0.0173% | 4h | 168.95 | −0.218% | $47K | $5.5M | 10x | as long as short |
| Phoenix MSTR | +0.0231% | 1h | 169.00 | −0.191% | $57K | $394K | 10x | as long as short |
| Injective MSTR/USDC PERPlong | +0.0333% | 1h | 169.32 | long leg | $13K | $22K | 30x | |
| Arcus MSTR-USD | +0.0457% | 1h | 169.07 | −0.148% | $27K | $129K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0934% | 1h | 169.07 | −0.148% | $288K | $439K | 10x | as long as short |
Lighter MSTR
Extended MSTR_24_5-USD
Bitget MSTRUSDT
QFEX MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
Bybit MSTRUSDT
Paradex MSTR-USD-PERP
tradeXYZ xyz:MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
edgeX MSTRUSDC
Phoenix MSTR
Arcus MSTR-USD
Deribit MSTR_USDC-PERPETUAL