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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 05:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.036%
Price spread now: Phemex against Nado+0.060%7-day average +0.052% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on NadoShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.004%$0 on $10k
Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.060%, 7d avg +0.052%
Together, before fees−0.061%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.004% in total (about 0.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado MSTR-PERP163.760.0240pay 0.0030% / 1h6m 36s$121K$148K3x
ShortPhemex MSTRUSDT163.860get 0.0000% / 4h3h 06m$2.8M$77K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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
−$50.39
Price spread: +0.060% → +0.052%
$0.83
Slippage, 4 orders
no order book: not counted
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$68.56
Costs to cover
0.190%
Break-even
never at this rate
Slippage unknown: Nado: live order book, 46 min ago; Phemex: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 46 min ago5.77 bp26.6 bp −$2784.3 bp −$843doesn't fitdoesn't fit
Sell Phemex live order book, 2 min ago0.31 bpdoesn't fitdoesn't fitdoesn'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−0.0975%8h164.03+0.164%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.89+0.076%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.92+0.097%$4.6M$19.3M50xas long as short
Phemex MSTRUSDTshort0.0000%4h163.86+0.060%$2.8M$77K10x
Lighter MSTR+0.0032%1h163.85+0.054%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.71−0.032%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.406%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.84+0.048%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.90+0.084%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.58−0.111%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.81+0.029%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.73−0.019%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.47−0.178%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.83+0.042%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0073%8h163.86+0.059%$66—5xas long as short
Variational Omni MSTR+0.0091%8h163.69−0.041%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.87+0.067%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.77+0.005%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.50−0.160%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.75−0.007%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.75−0.007%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0145%8h163.66−0.062%$83K$837K10xas long as short
Binance MSTRUSDT+0.0155%8h163.88+0.072%$86.0M$619.0M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.117%$1.4M$1.1M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.90+0.082%$266K$445K10xas long as short
Nado MSTR-PERPlong+0.0240%1h163.76long leg$121K$148K3x
tradeXYZ xyz:MSTR+0.0257%1h163.87+0.066%$54.6M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.82+0.036%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0316%8h163.96+0.121%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78+0.011%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0686%4h163.69−0.043%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0728%1h163.80+0.023%$279K$438K10xas long as short