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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+0.0050%/8h= +5.5% APRpaid last 24h +0.015%
Price spread now: Ondo Perps against Phemex−0.238%7-day average −0.140% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PhemexShort on Ondo Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.250%+$25 on $10k
Price spread, last 4 days (all we have)+0.301%+$30 · spread now −0.238%, 7d avg −0.140%
Together, before fees+0.550%+ Points / potential airdropOndo Perps: Active · farm board+$55 on $10k · with fees, hour by hour
Funding pays, the price is against you. Ondo Perps is 0.098% cheaper against Phemex than usual: you would sell low and buy high (spread −0.238% now, against its 7-day average of −0.140%). If the spread goes back, that is −$10 on $10k: about 6.5 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.250% in total) that is about 2.8 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex MSTRUSDT163.860get 0.0000% / 4h3h 06m$2.8M$77K10x
ShortOndo Perps MSTR-USD.P163.470.0050get 0.0006% / 1h6m 22s$817K$4.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Ondo Perps against Phemex. 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
$10.58
Price spread: −0.238% → −0.140%
−$9.82
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Net
−$16.24
Costs to cover
0.170%
Break-even
17.7 days
Slippage unknown: Phemex: live order book, 2 min ago; Ondo Perps: no order-book sample. 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 ago0.31 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Ondo Perps no order-book sample—————
Ondo Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0975%8h164.02+0.098%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.92+0.039%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.94+0.049%$4.6M$19.3M50xas long as short
Phemex MSTRUSDTlong0.0000%4h163.86long leg$2.8M$77K10x
Lighter MSTR+0.0032%1h163.85−0.006%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.74−0.073%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.344%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.84−0.012%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.88+0.012%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.58−0.171%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.81−0.031%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.860.000%$43K$3K10xas long as short
Ondo Perps MSTR-USD.Pshort+0.0050%1h163.47−0.238%$817K$4.0M10x
QFEX MSTR-USD+0.0067%1h163.83−0.018%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0073%8h163.86−0.001%$66—5xas long as short
Variational Omni MSTR+0.0091%8h163.69−0.101%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.87+0.007%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.79−0.043%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.50−0.220%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.89+0.018%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.88+0.013%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0145%8h163.66−0.122%$83K$837K10xas long as short
Binance MSTRUSDT+0.0155%8h163.91+0.031%$86.0M$619.1M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.177%$1.4M$1.1M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.90+0.022%$266K$445K10xas long as short
Nado MSTR-PERP+0.0240%1h163.76−0.060%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0256%1h163.860.000%$54.6M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.82−0.024%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0316%8h163.96+0.061%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78−0.049%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0686%4h163.69−0.103%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0727%1h163.97+0.067%$279K$438K10xas long as short