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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC−0.0597%/8h= −65.4% APRpaid last 24h +0.035%
Price spread now: Bitget against Phemex+0.067%7-day average −0.003% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PhemexShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days+0.181%+$18 on $10k
Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.067%, 7d avg −0.003%
Together, before fees+0.129%+$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bitget is 0.070% dearer against Phemex than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.003%): +$7 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.181%, 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 0.181% in total (about 9.4% 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
LongPhemex MSTRUSDT163.480get 0.0000% / 4h1h 02m$2.8M$80K10x
ShortBitget MSTRUSDT163.59−0.0597pay 0.0597% / 8h1h 02m$29.1M$118.8M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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

Funding earned
−$125.37
Price spread: +0.067% → −0.003%
$7.02
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$142.35
Costs to cover
0.240%
Break-even
never at this rate
Slippage unknown: Phemex: live order book, 2 min ago; Bitget: 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 Phemex live order book, 2 min ago1.53 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Bitget live order book, 2 min ago0.61 bp8.2 bp −$813.1 bp −$13139.0 bp −$3,899doesn'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 MSTRUSDTshort−0.0597%8h163.59+0.067%$29.1M$118.8M25x
Gate MSTR_USDT0.0000%8h163.52+0.024%$4.7M$19.7M50xas long as short
Phemex MSTRUSDTlong0.0000%4h163.48long leg$2.8M$80K10x
Extended MSTR_24_5-USD+0.0032%1h163.22−0.162%$507K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.585%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.74+0.159%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.40−0.049%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.42−0.037%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.46−0.012%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.41−0.043%$847K$3.8M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.45−0.018%$1.3M$7.2M10xas long as short
Aster MSTRUSDT+0.0062%8h163.27−0.126%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.48−0.002%$100K$88K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.44−0.024%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.55+0.043%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.480.000%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.48−0.003%$136—10xas long as short
Lighter MSTR+0.0112%1h163.39−0.055%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.199%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0167%8h163.39−0.052%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0177%8h163.47−0.006%$20.8M$100.2M50xas long as short
Variational Omni MSTR+0.0182%8h163.75+0.163%$1.2M$2.1M—as long as short
tradeXYZ xyz:MSTR+0.0255%1h163.41−0.043%$54.0M$37.8M10xas long as short
Binance MSTRUSDT+0.0258%8h163.42−0.035%$84.0M$625.4M50xas long as short
GRVT MSTR_USDT_Perp+0.0271%8h163.74+0.158%$76K$865K10xas long as short
Phoenix MSTR+0.0328%1h163.78+0.184%$56K$223K10xas long as short
Nado MSTR-PERP+0.0362%1h163.34−0.088%$130K$157K3xas long as short
BloFin MSTR-USDT+0.0377%8h163.58+0.061%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.49+0.005%$266K$426K10xas long as short
Bybit MSTRUSDT+0.0399%8h163.480.000%$17.1M$41.8M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0914%1h163.46−0.012%$278K$437K10xas long as short
edgeX MSTRUSDC+0.0963%4h163.78+0.181%$46K$5.4M10xas long as short