Funding you earn now, next payment 06:00 UTC−0.0278%/8h= −30.4% APRnext payment −$0.35 per $10,000 · paid last 24h −0.044%
Price spread now: SoDEX against Phoenix−0.151%70s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and SoDEX is 0.151% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSTR | 162.99 | 0.0328 | pay 0.0041% / 1h | 41m 58s | $55K | $223K | 10x |
| Short | SoDEX MSTR-USD | 162.74 | 0.0050 | get 0.0006% / 1h | 41m 58s | $43K | $3K | 10x |
Phoenix MSTR
SoDEX MSTR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Phoenix. 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
- −$58.35
- Price spread: −0.151% → 0.000%
- −$15.09
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$88.44
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 63 min ago; SoDEX: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phoenix live order book, 63 min ago | 2.69 bp | 9.4 bp −$9 | 18.5 bp −$185 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSTRUSDT | −0.0898% | 8h | 163.01 | +0.015% | $28.7M | $119.1M | 25x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 162.91 | −0.047% | $4.7M | $19.5M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 163.32 | +0.205% | $2.7M | $78K | 10x | as long as short |
| Aster MSTRUSDT | +0.0025% | 8h | 162.83 | −0.095% | $1.8M | $8.7M | 50x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 162.62 | −0.228% | $501K | $2.0M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.898% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.03 | +0.027% | $26K | $113K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 162.47 | −0.317% | — | $1.8M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 162.72 | −0.163% | $376K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USDshort | +0.0050% | 1h | 162.74 | −0.151% | $43K | $3K | 10x |
Bitget MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Aster MSTRUSDT
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USDShow 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 | 162.77 | −0.133% | $841K | $3.9M | 10x | as long as short |
| QFEX MSTR-USD | +0.0057% | 1h | 162.74 | −0.151% | $1.3M | $7.3M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 162.78 | −0.127% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 162.82 | −0.102% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 162.84 | −0.090% | $5K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 162.84 | −0.090% | $2K | $13K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 162.85 | −0.082% | $135 | — | 10x | as long as short |
| Lighter MSTR | +0.0128% | 1h | 162.81 | −0.108% | $3.5M | $2.0M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0134% | 8h | 162.79 | −0.120% | $20.7M | $100.3M | 50x | as long as short |
| Variational Omni MSTR | +0.0147% | 8h | 162.88 | −0.067% | $1.2M | $2.1M | — | as long as short |
| Paradex MSTR-USD-PERP | +0.0150% | 8h | 162.74 | −0.152% | $65 | — | 5x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0152% | 1h | 161.52 | −0.899% | $1.4M | $1.1M | 10x | as long as short |
| edgeX MSTRUSDC | +0.0172% | 4h | 162.89 | −0.057% | $46K | $5.4M | 10x | as long as short |
| Binance MSTRUSDT | +0.0225% | 8h | 162.79 | −0.120% | $83.6M | $628.6M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0232% | 8h | 163.04 | +0.032% | $79K | $876K | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0234% | 1h | 162.70 | −0.175% | $53.9M | $37.3M | 10x | as long as short |
| Phoenix MSTRlong | +0.0328% | 1h | 162.99 | long leg | $55K | $223K | 10x | |
| Nado MSTR-PERP | +0.0335% | 1h | 162.75 | −0.147% | $130K | $157K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0344% | 8h | 162.97 | −0.010% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0378% | 8h | 162.80 | −0.114% | $16.8M | $41.8M | 50x | as long as short |
| RISEx MSTR/USDC | +0.0381% | 1h | 162.82 | −0.105% | $262K | $437K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0795% | 1h | 162.86 | −0.077% | $277K | $437K | 10x | as long as short |
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Lighter MSTR
OKX MSTR-USDT-SWAP
Variational Omni MSTR
Paradex MSTR-USD-PERP
Coinbase International MSTR-PERP-INTX
edgeX MSTRUSDC
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
tradeXYZ xyz:MSTR
Nado MSTR-PERP
BloFin MSTR-USDT
Bybit MSTRUSDT
RISEx MSTR/USDC
Deribit MSTR_USDC-PERPETUAL