Funding you earn now, next payment 05:00 UTC−0.0237%/8h= −26.0% APRpaid last 24h −0.044%
Price spread now: Variational Omni against Phoenix−0.056%69s7-day average +0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.105%−$11 on $10k
+Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.056%, 7d avg +0.005%
=Together, before fees−0.156%+ Points / potential airdropVariational Omni: Active · farm board−$16 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.060% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 69 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 | 162.41 | 0.0362 | pay 0.0045% / 1h | 28m 17s | $55K | $226K | 10x |
| Short | Variational Omni MSTR | 162.32 | 0.0124 | get 0.0124% / 8h | 2h 28m | $1.2M | $2.1M | — |
Phoenix MSTR
Variational Omni MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$49.83
- Price spread: −0.056% → +0.005%
- −$6.03
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$62.86
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 16 min ago; Variational Omni: RFQ quote, 1 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 Phoenix live order book, 16 min ago | 2.69 bp | 9.4 bp −$9 | 18.5 bp −$185 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 1 min ago | 3.64 bp | doesn't fit | 16.5 bp −$165 | 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 | −0.1165% | 8h | 162.14 | −0.166% | $26.9M | $117.8M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 161.87 | −0.331% | $1.7M | $8.7M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 162.04 | −0.228% | $4.7M | $19.6M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 162.30 | −0.068% | $2.7M | $77K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 161.72 | −0.428% | $497K | $2.0M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0033% | 1h | 161.61 | −0.493% | — | $1.8M | 25x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +4.267% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 162.44 | +0.018% | $26K | $109K | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 161.89 | −0.320% | $374K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 161.89 | −0.320% | $43K | $3K | 10x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
Vest MSTR-USD-PERP
Injective MSTR/USDC PERP
Arcus MSTR-USD
Polymarket Perps MSTR-USD
SoDEX 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 | 162.18 | −0.142% | $867K | $3.9M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 161.94 | −0.289% | $1.4M | $7.3M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 161.95 | −0.283% | $263K | $443K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0092% | 8h | 161.88 | −0.326% | $20.4M | $99.5M | 50x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 161.98 | −0.265% | $99K | $84K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 161.89 | −0.320% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 162.29 | −0.074% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 161.83 | −0.357% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 161.87 | −0.329% | $134 | — | 10x | as long as short |
| Variational Omni MSTRshort | +0.0124% | 8h | 162.32 | −0.056% | $1.2M | $2.1M | — | |
| Paradex MSTR-USD-PERP | +0.0149% | 8h | 161.92 | −0.301% | $65 | — | 5x | as long as short |
| Lighter MSTR | +0.0160% | 1h | 161.91 | −0.308% | $3.4M | $2.0M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 161.81 | −0.369% | $1.4M | $1.1M | 10x | as long as short |
| Binance MSTRUSDT | +0.0197% | 8h | 161.84 | −0.351% | $83.5M | $627.6M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0210% | 8h | 162.40 | −0.004% | $79K | $831K | 10x | as long as short |
| BloFin MSTR-USDT | +0.0317% | 8h | 162.23 | −0.111% | $1.0M | $2.1M | 20x | as long as short |
| tradeXYZ xyz:MSTR | +0.0349% | 1h | 161.88 | −0.326% | $53.8M | $37.4M | 10x | as long as short |
| Phoenix MSTRlong | +0.0362% | 1h | 162.41 | long leg | $55K | $226K | 10x | |
| Bybit MSTRUSDT | +0.0370% | 8h | 161.92 | −0.302% | $16.5M | $41.6M | 50x | as long as short |
| Nado MSTR-PERP | +0.0376% | 1h | 161.93 | −0.293% | $129K | $157K | 3x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0430% | 1h | 161.77 | −0.394% | $275K | $438K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0858% | 4h | 162.53 | +0.075% | $48K | $5.4M | 10x | as long as short |
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
RISEx MSTR/USDC
OKX MSTR-USDT-SWAP
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
Lighter MSTR
Coinbase International MSTR-PERP-INTX
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
BloFin MSTR-USDT
tradeXYZ xyz:MSTR
Bybit MSTRUSDT
Nado MSTR-PERP
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC