Funding you earn now, next payment 03:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h +0.020%
Price spread now: Phoenix against tradeXYZ−0.007%61s7-day average +0.056% · 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−$430.427% of the position
Funding, last 7 days+0.136%+$14 on $10k
+Price spread, last 4 days (all we have)+0.416%+$42 · spread now −0.007%, 7d avg +0.056%
=Together, before fees+0.552%+ Points / potential airdroptradeXYZ: Active · farm board+$55 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.063% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.056%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you. The two prices were read 61 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 | tradeXYZ xyz:MSTR | 164.55 | 0.0226 | pay 0.0028% / 1h | 10m 23s | $54.8M | $37.0M | 10x |
| Short | Phoenix MSTR | 164.54 | 0.0213 | get 0.0027% / 1h | 10m 23s | $56K | $226K | 10x |
tradeXYZ xyz:MSTR
Phoenix MSTRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- −$2.88
- Price spread: −0.007% → +0.056%
- −$6.31
- Slippage, 4 orders
- −$17.73
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$51.92
- Costs to cover
- 0.427%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 8 min ago; Phoenix: live order book, 44 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 tradeXYZ live order book, 8 min ago | 0.61 bp | 10.0 bp −$10 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 44 min ago | 3.39 bp | 10.9 bp −$11 | 22.5 bp −$225 | 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 | −0.0940% | 8h | 164.66 | +0.067% | $27.9M | $115.1M | 25x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 164.55 | −0.002% | $1.8M | $8.5M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 164.81 | +0.158% | $4.6M | $18.8M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 164.51 | −0.024% | $2.8M | $74K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0013% | 8h | 164.67 | +0.073% | $20.6M | $99.6M | 50x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 164.42 | −0.079% | $3.5M | $1.9M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 164.41 | −0.088% | $595K | $1.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 169.34 | +2.911% | $8K | $26K | 30x | as long as short |
| RISEx MSTR/USDC | +0.0034% | 1h | 164.58 | +0.016% | $267K | $448K | 10x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 164.56 | +0.006% | $26K | $109K | 10x | as long as short |
Bitget MSTRUSDT
Aster MSTRUSDT
Gate MSTR_USDT
Phemex MSTRUSDT
OKX MSTR-USDT-SWAP
Lighter MSTR
Extended MSTR_24_5-USD
Injective MSTR/USDC PERP
RISEx MSTR/USDC
Arcus MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest MSTR-USD-PERP | +0.0046% | 1h | 164.44 | −0.067% | — | $1.7M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 164.52 | −0.018% | $381K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 164.48 | −0.043% | $43K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 164.35 | −0.122% | $856K | $3.9M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 164.52 | −0.018% | $1.4M | $7.4M | 10x | as long as short |
| Variational Omni MSTR | +0.0080% | 8h | 164.56 | +0.009% | $1.2M | $2.1M | — | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 164.50 | −0.027% | $101K | $83K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 164.47 | −0.049% | $2.4M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 164.36 | −0.115% | $6K | $186K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 164.61 | +0.036% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 164.51 | −0.026% | $137 | — | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0132% | 8h | 164.48 | −0.040% | $66 | — | 5x | as long as short |
| Binance MSTRUSDT | +0.0143% | 8h | 164.65 | +0.059% | $87.4M | $615.8M | 50x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0160% | 8h | 164.53 | −0.012% | $76K | $780K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0168% | 1h | 164.12 | −0.261% | $1.4M | $1.1M | 10x | as long as short |
| Phoenix MSTRshort | +0.0213% | 1h | 164.54 | −0.007% | $56K | $226K | 10x | |
| tradeXYZ xyz:MSTRlong | +0.0226% | 1h | 164.55 | long leg | $54.8M | $37.0M | 10x | |
| Nado MSTR-PERP | +0.0238% | 1h | 164.41 | −0.087% | $121K | $148K | 3x | as long as short |
| BloFin MSTR-USDT | +0.0262% | 8h | 164.51 | −0.024% | $1.0M | $2.0M | 20x | as long as short |
| Bybit MSTRUSDT | +0.0346% | 8h | 164.67 | +0.073% | $16.9M | $40.8M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0723% | 1h | 164.58 | +0.018% | $280K | $438K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0770% | 4h | 164.42 | −0.081% | $49K | $5.4M | 10x | as long as short |
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
Variational Omni MSTR
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Paradex MSTR-USD-PERP
Binance MSTRUSDT
GRVT MSTR_USDT_Perp
Coinbase International MSTR-PERP-INTX
Nado MSTR-PERP
BloFin MSTR-USDT
Bybit MSTRUSDT
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC