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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+0.0055%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h +0.016%
Price spread now: Pacifica against Vest−0.045%49s7-day average +0.741% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on VestShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.137%+$14 on $10k
Price spread, last 4 days (all we have)−1.125%−$112 · spread now −0.045%, 7d avg +0.741%
Together, before fees−0.988%+ Points / potential airdropVest: Active · Pacifica: Active · farm board−$99 on $10k · with fees, hour by hour
Funding pays, the price is against you. Pacifica is 0.786% cheaper against Vest than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.741%). If the spread goes back, that is −$79 on $10k: about 48 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.137% in total) that is about 20 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVest MSTR-USD-PERP163.210.0045pay 0.0006% / 1h54m 38s—$1.8M25x
ShortPacifica MSTR163.140.0100get 0.0013% / 1h54m 38s$100K$83K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

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

Funding on every exchange

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

Profit calculator

Funding earned
$11.51
Price spread: −0.045% → +0.741%
−$78.62
Slippage, 4 orders
no order book: not counted
Fee Vest: 1 bp × 2 orders
−$2
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$77.11
Costs to cover
0.100%
Break-even
53.9 days
Slippage unknown: Vest: no order-book sample; Pacifica: live order book, 53 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 Pacifica live order book, 53 min ago0.67 bp10.6 bp −$11doesn't fitdoesn'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−0.0900%8h163.41+0.123%$28.7M$119.1M25xas long as short
Gate MSTR_USDT0.0000%8h163.33+0.074%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.40+0.116%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0016%8h163.24+0.016%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.09−0.074%$509K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.756%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.51+0.184%$26K$113K10xas long as short
Vest MSTR-USD-PERPlong+0.0045%1h163.21long leg—$1.8M25x
Polymarket Perps MSTR-USD+0.0050%1h163.28+0.043%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.30+0.055%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.48+0.165%$843K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.36+0.092%$1.3M$7.3M10xas long as short
Pacifica MSTRshort+0.0100%1h163.14−0.045%$100K$83K10x
KuCoin MSTRUSDTM+0.0100%8h163.20−0.006%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.33+0.074%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.30+0.055%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.32+0.067%$136—10xas long as short
OKX MSTR-USDT-SWAP+0.0120%8h163.210.000%$20.7M$100.6M50xas long as short
Paradex MSTR-USD-PERP+0.0139%8h163.20−0.004%$65—5xas long as short
Variational Omni MSTR+0.0143%8h163.37+0.096%$1.2M$2.1M—as long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.035%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0154%1h163.14−0.043%$54.1M$37.3M10xas long as short
Binance MSTRUSDT+0.0216%8h163.210.000%$83.8M$629.1M50xas long as short
Lighter MSTR+0.0216%1h163.22+0.006%$3.5M$2.0M10xas long as short
GRVT MSTR_USDT_Perp+0.0229%8h163.55+0.207%$83K$865K10xas long as short
Nado MSTR-PERP+0.0326%1h163.24+0.019%$130K$157K3xas long as short
BloFin MSTR-USDT+0.0336%8h163.41+0.123%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0362%1h163.67+0.284%$56K$223K10xas long as short
Bybit MSTRUSDT+0.0373%8h163.24+0.018%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.37+0.098%$263K$437K10xas long as short
edgeX MSTRUSDC+0.0458%4h163.50+0.180%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0669%1h163.37+0.098%$278K$437K10xas long as short