MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0233%/8h= +25.5% APRnext payment +$2.33 per $10,000 · paid last 24h −0.008%

Price spread now: Bybit against OKX−0.025%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days−0.001%$0 · spread now −0.025%, 7d avg −0.004%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.021% cheaper against OKX than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of −0.004%). If the spread goes back, that is −$2 on $10k: about 7 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.014% in total) that is about 10 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.33 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	OKX MSTR-USDT-SWAP	162.97	0.0149	pay 0.0149% / 8h	1h 29m	$20.7M	$100.2M	50x
Short	Bybit MSTRUSDT	162.93	0.0382	get 0.0382% / 8h	1h 29m	$16.8M	$41.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $48.85
Price spread: −0.025% → −0.004%: −$2.09
Slippage, 4 orders: −$8.51
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $17.26
Costs to cover: 0.295%
Break-even: 4.5 days

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 9 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 OKX live order book, 4 min ago	0.31 bp	6.0 bp −$6	11.1 bp −$111	doesn't fit	doesn't fit
Sell Bybit live order book, 9 min ago	0.62 bp	9.3 bp −$9	13.6 bp −$136	115.5 bp −$11.5K	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	−0.0949%	8h	163.16	+0.117%	$28.7M	$118.6M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.99	+0.012%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.91	−0.037%	$2.7M	$78K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.72	−0.153%	$508K	$2.0M	10x	as long as short
Aster MSTRUSDT	+0.0033%	8h	162.89	−0.051%	$1.8M	$8.7M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.909%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.84	−0.080%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.55	−0.258%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.82	−0.092%	$377K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.85	−0.074%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.57	−0.245%	$849K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.90	−0.043%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.95	−0.012%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.82	−0.092%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.59	−0.233%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.87	−0.061%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.88	−0.055%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAPlong	+0.0149%	8h	162.97	long leg	$20.7M	$100.2M	50x
Variational Omni MSTR	+0.0151%	8h	162.75	−0.137%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.890%	$1.4M	$1.1M	10x	as long as short
Lighter MSTR	+0.0160%	1h	162.93	−0.025%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0162%	8h	162.86	−0.066%	$65	—	5x	as long as short
Binance MSTRUSDT	+0.0230%	8h	162.93	−0.027%	$83.8M	$627.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0242%	8h	162.87	−0.061%	$77K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0280%	1h	162.77	−0.123%	$54.0M	$37.4M	10x	as long as short
edgeX MSTRUSDC	+0.0290%	4h	162.68	−0.178%	$45K	$5.4M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.77	−0.122%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0350%	8h	162.76	−0.129%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0351%	1h	162.81	−0.099%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.89	−0.049%	$264K	$428K	10x	as long as short
Bybit MSTRUSDTshort	+0.0382%	8h	162.93	−0.025%	$16.8M	$41.8M	50x
Deribit MSTR_USDC-PERPETUAL	+0.0979%	1h	162.89	−0.049%	$277K	$437K	10x	as long as short