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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 08:00 UTC+0.0317%/8h= +34.7% APRnext payment +$0.40 per $10,000 · paid last 24h +0.198%
Price spread now: Deribit against Vest+0.092%7-day average +0.918% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on VestShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.569%+$57 on $10k
Price spread, last 4 days (all we have)+0.114%+$11 · spread now +0.092%, 7d avg +0.918%
Together, before fees+0.683%+ Points / potential airdropVest: Active · farm board+$68 on $10k · with fees, hour by hour
Funding pays, the price is against you. Deribit is 0.826% cheaper against Vest than usual: you would sell low and buy high (spread +0.092% now, against its 7-day average of +0.918%). If the spread goes back, that is −$83 on $10k: about 8.7 days of funding at the current rate (+$10 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVest MSTR-USD-PERP163.140.0046pay 0.0006% / 1h3m 07s—$1.8M25x
ShortDeribit MSTR_USDC-PERPETUAL163.290.0363get 0.0045% / 1h3m 07s$278K$437K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Vest. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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

Profit calculator

Funding earned
$66.6
Price spread: +0.092% → +0.918%
−$82.56
Slippage, 4 orders
no order book: not counted
Fee Vest: 1 bp × 2 orders
−$2
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$24.96
Costs to cover
0.090%
Break-even
9.6 days
Slippage unknown: Vest: no order-book sample; Deribit: live order book, 36 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Vest no order-book sample—————
Sell Deribit live order book, 36 min ago6.72 bp10.8 bp −$1111.9 bp −$119doesn't fitdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0412%8h163.46+0.196%$29.5M$119.3M25xas long as short
Gate MSTR_USDT0.0000%8h163.45+0.190%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37+0.141%$2.7M$84K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.22+0.052%$589K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.800%$8K$26K30xas long as short
edgeX MSTRUSDC+0.0036%4h163.01−0.080%$46K$5.4M10xas long as short
Arcus MSTR-USD+0.0040%1h163.30+0.098%$26K$114K10xas long as short
Vest MSTR-USD-PERPlong+0.0046%1h163.14long leg—$1.8M25x
Lighter MSTR+0.0048%1h163.26+0.074%$3.5M$2.0M10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.26+0.074%$378K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0050%1h163.33+0.116%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.20+0.037%$879K$3.7M10xas long as short
QFEX MSTR-USD+0.0067%1h163.29+0.092%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0076%8h163.25+0.068%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.33+0.115%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.16+0.012%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.90−0.147%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.29+0.092%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.29+0.093%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0132%8h163.33+0.116%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h162.62−0.319%$1.4M$1.1M10xas long as short
Nado MSTR-PERP+0.0163%1h163.24+0.064%$125K$165K3xas long as short
Variational Omni MSTR+0.0196%8h163.14+0.002%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0202%8h163.42+0.172%$20.8M$100.0M50xas long as short
GRVT MSTR_USDT_Perp+0.0263%8h163.05−0.055%$82K$859K10xas long as short
Binance MSTRUSDT+0.0270%8h163.33+0.118%$84.0M$620.7M50xas long as short
Phoenix MSTR+0.0357%1h163.27+0.079%$55K$223K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0363%1h163.29+0.092%$278K$437K10x
BloFin MSTR-USDT+0.0390%8h163.37+0.141%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0400%8h163.36+0.135%$17.1M$41.7M50xas long as short
tradeXYZ xyz:MSTR+0.0422%1h163.36+0.135%$54.0M$37.7M10xas long as short
RISEx MSTR/USDC+0.0493%1h163.34+0.123%$268K$419K10xas long as short