Funding you earn now, next payment 04:00 UTC+0.0723%/8h= +79.2% APRpaid last 24h +0.211%
Price spread now: Deribit against Phemex−0.006%7-day average +0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)+0.687%+$69 on $10k
+Price spread, last 4 days (all we have)+0.045%+$5 · spread now −0.006%, 7d avg +0.008%
=The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$22 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSTRUSDT | 164.56 | 0 | get 0.0000% / 4h | 37m 57s | $2.8M | $72K | 10x |
| Short | Deribit MSTR_USDC-PERPETUAL | 164.55 | 0.0723 | get 0.0090% / 1h | 37m 57s | $280K | $438K | 10x |
Phemex MSTRUSDT
Deribit MSTR_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. 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
- $151.89
- Price spread: −0.006% → +0.008%
- −$1.36
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $131.53
- Costs to cover
- 0.190%
- Break-even
- 0.9 days
Slippage unknown: Phemex: live order book, 6 min ago; Deribit: live order book, 21 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 Phemex live order book, 6 min ago | 0.91 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 21 min ago | 6.66 bp | 11.4 bp −$11 | 12.7 bp −$127 | doesn't fit | 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 | −0.0875% | 8h | 164.61 | +0.030% | $27.7M | $115.1M | 25x | as long as short |
| Gate MSTR_USDT | −0.0042% | 8h | 164.42 | −0.085% | $4.6M | $18.5M | 50x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.49 | −0.044% | $1.8M | $8.5M | 50x | as long as short |
| Phemex MSTRUSDTlong | 0.0000% | 4h | 164.56 | long leg | $2.8M | $72K | 10x | |
| OKX MSTR-USDT-SWAP | +0.0007% | 8h | 164.50 | −0.036% | $20.6M | $99.7M | 50x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.36 | −0.122% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.31 | −0.152% | $595K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +2.905% | $8K | $26K | 30x | as long as short |
| RISEx MSTR/USDC | +0.0034% | 1h | 164.33 | −0.143% | $266K | $449K | 10x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.63 | +0.043% | $26K | $109K | 10x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
RISEx MSTR/USDC
Arcus MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.35 | −0.128% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.39 | −0.103% | $380K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.43 | −0.079% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.08 | −0.292% | $866K | $4.1M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 164.31 | −0.152% | $1.4M | $7.5M | 10x | as long as short |
| Variational Omni MSTR | +0.0069% | 8h | 164.72 | +0.100% | $1.2M | $2.1M | — | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.33 | −0.141% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.33 | −0.140% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.63 | +0.043% | $6K | $185K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.47 | −0.055% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.49 | −0.042% | $137 | — | 10x | as long as short |
| Binance MSTRUSDT | +0.0129% | 8h | 164.47 | −0.054% | $87.8M | $617.9M | 50x | as long as short |
| Paradex MSTR-USD-PERP | +0.0141% | 8h | 164.25 | −0.190% | $66 | — | 5x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0165% | 8h | 164.79 | +0.141% | $78K | $770K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 164.77 | +0.128% | $1.4M | $1.1M | 10x | as long as short |
| Phoenix MSTR | +0.0213% | 1h | 164.59 | +0.015% | $56K | $226K | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0239% | 1h | 164.40 | −0.097% | $54.9M | $36.9M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0249% | 8h | 164.38 | −0.109% | $1.0M | $2.0M | 20x | as long as short |
| Nado MSTR-PERP | +0.0267% | 1h | 164.40 | −0.098% | $121K | $148K | 3x | as long as short |
| Bybit MSTRUSDT | +0.0375% | 8h | 164.52 | −0.024% | $17.1M | $40.7M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUALshort | +0.0723% | 1h | 164.55 | −0.006% | $280K | $438K | 10x | |
| edgeX MSTRUSDC | +0.0951% | 4h | 164.67 | +0.065% | $49K | $5.3M | 10x | as long as short |
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
Variational Omni MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Binance MSTRUSDT
Paradex MSTR-USD-PERP
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
Phoenix MSTR
tradeXYZ xyz:MSTR
BloFin MSTR-USDT
Nado MSTR-PERP
Bybit MSTRUSDT
edgeX MSTRUSDC