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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0411%/8h= +45.1% APRnext payment +$0.51 per $10,000 · paid last 24h +0.107%
Price spread now: Deribit against RISEx−0.012%7-day average +0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$280.276% of the position
Long on RISExShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.295%+$30 on $10k
Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.012%, 7d avg +0.011%
Together, before fees+0.324%+$32 on $10k · with fees, hour by hour
Funding pays, the price is against you. Deribit is 0.023% cheaper against RISEx than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.011%). If the spread goes back, that is −$2 on $10k: about 5 hours of funding at the current rate (+$12 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongRISEx MSTR/USDC163.230.0381pay 0.0048% / 1h52m 07s$262K$437K10x
ShortDeribit MSTR_USDC-PERPETUAL163.210.0793get 0.0099% / 1h52m 07s$278K$437K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against RISEx. 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

Funding earned
$86.4
Price spread: −0.012% → +0.011%
−$2.33
Slippage, 4 orders
−$14.64
Fee RISEx: 3 bp × 2 orders
−$6
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$56.43
Costs to cover
0.276%
Break-even
2.4 days
Slippage from RISEx: live order book, 56 min ago; Deribit: live order book, 57 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy RISEx live order book, 56 min ago0.31 bp3.3 bp −$34.5 bp −$45doesn't fitdoesn't fit
Sell Deribit live order book, 57 min ago6.10 bp11.4 bp −$1112.7 bp −$127doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0894%8h163.35+0.074%$28.7M$119.1M25xas long as short
Gate MSTR_USDT0.0000%8h163.230.000%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.31+0.049%$2.7M$78K10xas long as short
edgeX MSTRUSDC+0.0012%4h163.35+0.073%$46K$5.4M10xas long as short
Aster MSTRUSDT+0.0017%8h163.19−0.024%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h162.95−0.168%$508K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.743%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.45+0.135%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.01−0.135%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.12−0.067%$377K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0050%1h163.12−0.067%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.16−0.043%$843K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.22−0.006%$1.3M$7.3M10xas long as short
Pacifica MSTR+0.0100%1h163.19−0.026%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.16−0.043%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.33+0.061%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.16−0.043%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.17−0.036%$135—10xas long as short
OKX MSTR-USDT-SWAP+0.0120%8h163.14−0.055%$20.7M$100.5M50xas long as short
Variational Omni MSTR+0.0143%8h163.37+0.084%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0143%8h163.22−0.008%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.048%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0184%1h163.07−0.098%$54.1M$37.3M10xas long as short
Binance MSTRUSDT+0.0217%8h163.14−0.055%$83.7M$628.7M50xas long as short
Lighter MSTR+0.0224%1h163.17−0.037%$3.5M$2.0M10xas long as short
GRVT MSTR_USDT_Perp+0.0228%8h163.39+0.100%$83K$865K10xas long as short
Nado MSTR-PERP+0.0312%1h163.10−0.077%$130K$157K3xas long as short
Phoenix MSTR+0.0328%1h163.31+0.048%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0336%8h163.21−0.012%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0374%8h163.18−0.031%$16.8M$41.8M50xas long as short
RISEx MSTR/USDClong+0.0381%1h163.23long leg$262K$437K10x
Deribit MSTR_USDC-PERPETUALshort+0.0793%1h163.21−0.012%$278K$437K10x