Funding you earn now, next payment 05:00 UTC−0.0316%/8h= −34.6% APRnext payment −$0.40 per $10,000 · paid last 24h −0.070%
Price spread now: Vest against Phoenix−0.226%58s7-day average −0.890% · 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)−0.114%−$11 on $10k
+Price spread, last 4 days (all we have)+0.254%+$25 · spread now −0.226%, 7d avg −0.890%
=Together, before fees+0.141%+ Points / potential airdropVest: Active · farm board+$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Vest is 0.664% dearer against Phoenix than usual: you sell high and buy low (spread −0.226% now, against its 7-day average of −0.890%): +$66 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7.0 days. At the pace of the last 3 days (−0.114% in total) that is about 20 days. The two prices were read 58 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 | 163.90 | 0.0362 | pay 0.0045% / 1h | 48m 02s | $56K | $226K | 10x |
| Short | Vest MSTR-USD-PERP | 163.53 | 0.0046 | get 0.0006% / 1h | 48m 02s | — | $1.7M | 25x |
Phoenix MSTR
Vest MSTR-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$66.36
- Price spread: −0.226% → −0.890%
- $66.4
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$8.96
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 62 min ago; Vest: 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, 62 min ago | 3.65 bp | 11.4 bp −$11 | 23.7 bp −$237 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 | −0.0969% | 8h | 163.97 | +0.043% | $27.1M | $117.0M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 163.83 | −0.040% | $1.8M | $8.6M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 163.94 | +0.024% | $4.6M | $19.2M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.05 | +0.092% | $2.8M | $77K | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 163.59 | −0.189% | $596K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.319% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 163.85 | −0.031% | $26K | $109K | 10x | as long as short |
| Vest MSTR-USD-PERPshort | +0.0046% | 1h | 163.53 | −0.226% | — | $1.7M | 25x | |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 163.82 | −0.049% | $379K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 163.83 | −0.043% | $43K | $3K | 10x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
Extended MSTR_24_5-USD
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 | 163.71 | −0.116% | $830K | $3.9M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 163.81 | −0.055% | $1.4M | $7.2M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0069% | 8h | 163.77 | −0.079% | $20.8M | $99.7M | 50x | as long as short |
| RISEx MSTR/USDC | +0.0088% | 1h | 163.89 | −0.006% | $266K | $446K | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 163.85 | −0.029% | $100K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 163.72 | −0.110% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 163.69 | −0.128% | $6K | $182K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 163.85 | −0.031% | $4K | $8K | 10x | as long as short |
| Variational Omni MSTR | +0.0103% | 8h | 163.88 | −0.014% | $1.2M | $2.1M | — | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 163.87 | −0.020% | $136 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0115% | 8h | 163.80 | −0.062% | $66 | — | 5x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0168% | 8h | 163.91 | +0.006% | $79K | $838K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 163.57 | −0.201% | $1.4M | $1.1M | 10x | as long as short |
| Binance MSTRUSDT | +0.0173% | 8h | 163.76 | −0.085% | $85.7M | $619.4M | 50x | as long as short |
| Lighter MSTR | +0.0232% | 1h | 163.78 | −0.073% | $3.5M | $1.9M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0291% | 8h | 163.79 | −0.067% | $1.0M | $2.1M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0335% | 8h | 163.82 | −0.049% | $16.7M | $41.2M | 50x | as long as short |
| Nado MSTR-PERP | +0.0353% | 1h | 163.56 | −0.209% | $121K | $148K | 3x | as long as short |
| tradeXYZ xyz:MSTR | +0.0357% | 1h | 163.77 | −0.079% | $54.5M | $37.1M | 10x | as long as short |
| Phoenix MSTRlong | +0.0362% | 1h | 163.90 | long leg | $56K | $226K | 10x | |
| edgeX MSTRUSDC | +0.0496% | 4h | 163.67 | −0.142% | $48K | $5.4M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.1094% | 1h | 163.90 | 0.000% | $279K | $438K | 10x | as long as short |
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
OKX MSTR-USDT-SWAP
RISEx MSTR/USDC
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Variational Omni MSTR
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
Binance MSTRUSDT
Lighter MSTR
BloFin MSTR-USDT
Bybit MSTRUSDT
Nado MSTR-PERP
tradeXYZ xyz:MSTR
edgeX MSTRUSDC
Deribit MSTR_USDC-PERPETUAL