MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.005%

Price spread now: Extended against Polymarket Perps−0.059%49s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.298% of the position

Long on Polymarket Perps Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days+0.104%+$10 · spread now −0.059%, 7d avg −0.015%

Together, before fees+0.108%+ Points / potential airdropExtended: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.044% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.015%). Swap the legs. The two prices were read 49 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	Polymarket Perps MSTR-USD	166.21	0.0050	pay 0.0006% / 1h	48m 42s	$384K	$2.3M	10x
Short	Extended MSTR_24_5-USD	166.11	0.0032	get 0.0004% / 1h	48m 42s	$509K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee ExtendedbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$3.78
Price spread: −0.059% → −0.015%: −$4.4
Slippage, 4 orders: −$16.8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$37.97
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago	2.71 bp	7.3 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	2.11 bp	7.4 bp −$7	17.8 bp −$178	doesn't fit	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.596%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.29	+0.048%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.28	+0.042%	$32.0M	$105.4M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.32	+0.066%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.17	−0.024%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	166.11	−0.059%	$509K	$1.8M	10x
Vest MSTR-USD-PERP	+0.0046%	1h	166.41	+0.120%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.24	+0.018%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	166.21	long leg	$384K	$2.3M	10x
SoDEX MSTR-USD	+0.0050%	1h	166.28	+0.042%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.12	−0.054%	$875K	$3.3M	10x	as long as short
Nado MSTR-PERP	+0.0058%	1h	166.18	−0.018%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.259%	$1.4M	$386K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.19	−0.015%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.26	+0.030%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.16	−0.030%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.30	+0.054%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.33	+0.071%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	166.22	+0.004%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0205%	1h	166.24	+0.018%	$54.9M	$34.4M	10x	as long as short
Bybit MSTRUSDT	+0.0213%	8h	166.27	+0.036%	$17.1M	$38.0M	50x	as long as short
Aster MSTRUSDT	+0.0277%	8h	166.28	+0.039%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0296%	8h	166.24	+0.018%	$21.6M	$83.5M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.49	+0.168%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0364%	8h	166.38	+0.104%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.23	+0.012%	$274K	$350K	10x	as long as short
Binance MSTRUSDT	+0.0462%	8h	166.21	0.000%	$87.2M	$535.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0472%	1h	166.28	+0.042%	$283K	$209K	10x	as long as short
BloFin MSTR-USDT	+0.0591%	8h	166.32	+0.066%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0608%	8h	166.43	+0.133%	$87K	$855K	10x	as long as short
edgeX MSTRUSDC	+0.0734%	4h	166.28	+0.044%	$48K	$4.9M	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.34	+0.078%	$26K	$71K	10x	as long as short