Funding you earn now, next payment 03:00 UTC+0.0292%/8h= +31.9% APRpaid last 24h +0.027%
Price spread now: Bybit against Polymarket Perps+0.152%7-day average +0.076% · you sell dearer than you buy
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$320.324% of the position
Funding, last 7 days−0.015%−$2 on $10k
+Price spread, last 7 days−0.098%−$10 · spread now +0.152%, 7d avg +0.076%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.077% dearer against Polymarket Perps than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.076%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MSTR-USD | 164.04 | 0.0050 | pay 0.0006% / 1h | 54m 56s | $383K | $2.7M | 10x |
| Short | Bybit MSTRUSDT | 164.29 | 0.0342 | get 0.0342% / 8h | 5h 54m | $17.0M | $40.7M | 50x |
Polymarket Perps MSTR-USD
Bybit MSTRUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Polymarket Perps. 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
- $61.22
- Price spread: +0.152% → +0.076%
- $7.65
- Slippage, 4 orders
- −$13.4
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $36.48
- Costs to cover
- 0.324%
- Break-even
- 2.8 days
Slippage from Polymarket Perps: live order book, 4 min ago; Bybit: live order book, 4 min ago.
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 Polymarket Perps live order book, 4 min ago | 1.52 bp | 8.3 bp −$8 | 9.4 bp −$94 | 12.1 bp −$1,205 | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.91 bp | 9.0 bp −$9 | 13.9 bp −$139 | 118.4 bp −$11.8K | doesn't fit |
MSTR on 31 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 | −0.1205% | 8h | 164.35 | +0.189% | $27.5M | $114.4M | 25x | as long as short |
| Gate MSTR_USDT | −0.0080% | 8h | 164.26 | +0.134% | $4.6M | $18.3M | 50x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.21 | +0.106% | $1.2M | $7.5M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 164.30 | +0.158% | $20.8M | $99.1M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.22 | +0.110% | $2.8M | $70K | 10x | as long as short |
| Variational Omni MSTR | +0.0014% | 8h | 164.41 | +0.224% | $1.2M | $2.0M | — | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.16 | +0.073% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.10 | +0.037% | $594K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +3.231% | $8K | $26K | 30x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.38 | +0.207% | $26K | $112K | 10x | as long as short |
Bitget MSTRUSDT
Gate MSTR_USDT
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Phemex MSTRUSDT
Variational Omni MSTR
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
Arcus MSTR-USDShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.05 | +0.006% | — | $1.8M | 25x | as long as short |
| Polymarket Perps MSTR-USDlong | +0.0050% | 1h | 164.04 | long leg | $383K | $2.7M | 10x | |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.12 | +0.049% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.12 | +0.049% | $887K | $4.3M | 10x | as long as short |
| QFEX MSTR-USD | +0.0060% | 1h | 164.16 | +0.073% | $1.4M | $7.8M | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0077% | 1h | 164.18 | +0.085% | $55.0M | $36.7M | 10x | as long as short |
| Binance MSTRUSDT | +0.0084% | 8h | 164.26 | +0.135% | $87.7M | $618.3M | 50x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.19 | +0.093% | $100K | $85K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.21 | +0.104% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.14 | +0.061% | $4K | $184K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.13 | +0.055% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.12 | +0.050% | $136 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0149% | 8h | 164.09 | +0.031% | $66 | — | 5x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0178% | 8h | 164.25 | +0.130% | $77K | $772K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0200% | 1h | 164.31 | +0.165% | $1.4M | $1.1M | 10x | as long as short |
| edgeX MSTRUSDC | +0.0201% | 4h | 164.18 | +0.083% | $50K | $5.4M | 10x | as long as short |
| Nado MSTR-PERP | +0.0227% | 1h | 164.05 | +0.006% | $122K | $149K | 3x | as long as short |
| RISEx MSTR/USDC | +0.0291% | 1h | 164.18 | +0.087% | $269K | $447K | 10x | as long as short |
| Bybit MSTRUSDTshort | +0.0342% | 8h | 164.29 | +0.152% | $17.0M | $40.7M | 50x | |
| Phoenix MSTR | +0.0381% | 1h | 164.16 | +0.074% | $55K | $227K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0482% | 1h | 164.10 | +0.037% | $279K | $438K | 10x | as long as short |
Vest MSTR-USD-PERP
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
tradeXYZ xyz:MSTR
Binance MSTRUSDT
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
edgeX MSTRUSDC
Nado MSTR-PERP
RISEx MSTR/USDC
Phoenix MSTR
Deribit MSTR_USDC-PERPETUAL