MSTR funding rates
MSTR perpetual funding across 11 venues. Rates are annualized (APR); positive means longs pay shorts.
· refreshed every 5 min
- Best pair · 7d
- 24.5%long Nado, short Bitget · net 19.6%
- Highest funding now
- 25.3%NaNado
- Lowest funding now
- 0.0%AsAster
- Listed on
- 11 venues
Funding by venue
| 7d chart | Flags | Open | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NaNado | MSTR-PERP_USDT0 | 25.3% | −5.6% | −10.0% | 8.3% | −10.7% | 30% | 1h | 05:00 | 157.50 | $122k | $6k | TradFi | NaNado | |
| RwRWA Perp | PERP_MSTR_USDC_mythos | 9.7% | 9.9% | 10.6% | 10.0% | 10.7% | 100% | 8h | 08:00 | 157.41 | $15k | $950 | TradFi | RwRWA Perp | |
| PmPolymarket | MSTR-USD | 5.5% | 11.5% | 7.1% | 8.9% | 6.4% | 96% | 1h | 05:00 | 157.36 | $418k | $63k | TradFi | PmPolymarket | |
| LiLighter | MSTR | 4.4% | 11.6% | 5.2% | 9.5% | 4.1% | 96% | 1h | 05:00 | 157.31 | $2.9M | $703k | TradFi | LiLighter | |
| AsAster | MSTRUSDT | 0.0% | 0.0% | 4.0% | 7.1% | 4.7% | 30% | 8h | 08:00 | 157.47 | $601k | $593k | TradFi | AsAster | |
| GrGRVT | MSTR_USDT_Perp | 0.0% | 3.0% | 5.9% | 8.9% | 6.4% | 40% | 8h | 08:00 | 157.50 | $143k | $905k | TradFi | GrGRVT | |
| RxRISEx | MSTR/USDC | 0.0% | 20.1% | 2.8% | 17.3% | −0.1% | 26% | 1h | 05:00 | 157.48 | $323k | $1.0M | TradFi | RxRISEx | |
| VaVariational | MSTR | 0.0% | 7.2% | 2.8% | 7.1% | 2.0% | 27% | 8h | — | 157.20 | $1.2M | $1.3M | TradFi | VaVariational | |
| ByBybitCEX | MSTRUSDT | 0.0% | 26.1% | 11.4% | 16.5% | 8.9% | 48% | 8h | 08:00 | 157.53 | $23.0M | $6.7M | TradFi | ByBybit | |
| BgBitgetCEX | MSTRUSDT | 0.0% | 3.9% | 14.5% | 14.9% | 16.3% | 49% | 8h | 08:00 | 157.60 | $31.6M | $23.6M | TradFi | BgBitget | |
| GtGateCEX | MSTR_USDT | 0.0% | 40.5% | 11.5% | 16.5% | 6.6% | 30% | 8h | 08:00 | 157.51 | $25.0M | $4.9M | TradFi | GtGate |
Sparklines: hourly funding APR over the last 7 days, zero line dashed.
Long/short pairs
| Spread APR | After taker fees | Quality | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7d trend | Flags | Open | Calc | |||||||||||
| NaNado | BgBitgetCEX | −25.3% | 9.5% | 24.5% | 6.6% | 19.6% | 29.3% | 2.8d | cooling | $122k | 1h/8hTradFi | NaBg | calc | |
| NaNado | ByBybitCEX | −25.3% | 31.8% | 21.4% | 8.2% | 16.7% | 25.1% | 3.1d | cooling | $122k | 1h/8hTradFi | NaBy | calc | |
| NaNado | GtGateCEX | −25.3% | 46.2% | 21.5% | 8.2% | 15.7% | 23.6% | 3.7d | cooling | $122k | 1h/8hTradFi | NaGt | calc | |
| NaNado | LiLighter | −20.9% | 17.2% | 15.2% | 1.2% | 13.4% | 20.1% | 1.7d | cooling | $122k | TradFi | NaLi | calc | |
| NaNado | PmPolymarket | −19.9% | 17.1% | 17.1% | 0.6% | 13.2% | 19.8% | 3.2d | cooling | $122k | TradFiinvite only | NaPm | calc | |
| NaNado | GrGRVT | −25.3% | 8.6% | 15.9% | 0.6% | 11.8% | 17.6% | 3.7d | cooling | $122k | 1h/8hTradFi | NaGr | calc | |
| NaNado | VaVariational | −25.3% | 12.9% | 12.8% | −1.2% | 10.9% | 16.4% | 2.0d | cooling | $122k | 1h/8hTradFispread not incl. | NaVa | calc | |
| NaNado | AsAster | −25.3% | 5.6% | 14.0% | −1.2% | 10.1% | 15.2% | 3.9d | cooling | $122k | 1h/8hTradFi | NaAs | calc | |
| NaNado | RxRISEx | −25.3% | 25.7% | 12.8% | 8.9% | 9.4% | 14.1% | 3.7d | cooling | $122k | TradFi | NaRx | calc | |
| VaVariational | BgBitgetCEX | 0.0% | −3.3% | 11.7% | 7.8% | 8.6% | 12.9% | 3.7d | cooling | $1.2M | TradFispread not incl. | VaBg | calc | |
| RxRISEx | BgBitgetCEX | 0.0% | −16.2% | 11.7% | −2.4% | 7.0% | 10.5% | 5.6d | cooling | $323k | 1h/8hTradFi | RxBg | calc | |
| VaVariational | ByBybitCEX | 0.0% | 18.9% | 8.6% | 9.4% | 5.8% | 8.6% | 4.7d | cooling | $1.2M | TradFispread not incl. | VaBy | calc | |
| AsAster | BgBitgetCEX | 0.0% | 3.9% | 10.5% | 7.8% | 5.3% | 7.9% | 7.0d | cooling | $601k | TradFi | AsBg | calc | |
| RxRISEx | ByBybitCEX | 0.0% | 6.1% | 8.6% | −0.8% | 4.1% | 6.2% | 7.2d | cooling | $323k | 1h/8hTradFi | RxBy | calc | |
| GrGRVT | BgBitgetCEX | 0.0% | 0.9% | 8.6% | 6.0% | 3.1% | 4.7% | 8.9d | cooling | $143k | TradFi | GrBg | calc | |
| LiLighter | BgBitgetCEX | −4.4% | −7.7% | 9.3% | 5.4% | 6.2% | 9.3% | 4.7d | mixed | $2.9M | 1h/8hTradFi | LiBg | calc | |
| VaVariational | LiLighter | 4.4% | 4.4% | 2.4% | 2.4% | 2.4% | 3.6% | <0.1d | weak | $1.2M | 8h/1hTradFispread not incl. | VaLi | calc | |
| VaVariational | GtGateCEX | 0.0% | 33.3% | 8.7% | 9.4% | 4.8% | 7.2% | 6.3d | spike ×7.2 | $1.2M | TradFispread not incl. | VaGt | calc | |
| VaVariational | PmPolymarket | 5.5% | 4.3% | 4.4% | 1.8% | 2.3% | 3.4% | 6.7d | weak | $418k | 8h/1hTradFiinvite onlyspread not incl. | VaPm | calc | |
| LiLighter | ByBybitCEX | −4.4% | 14.6% | 6.2% | 7.0% | 3.3% | 5.0% | 6.5d | mixed | $2.9M | 1h/8hTradFi | LiBy | calc | |
| RxRISEx | GtGateCEX | 0.0% | 20.5% | 8.7% | −0.7% | 3.2% | 4.8% | 8.9d | spike ×3.1 | $323k | 1h/8hTradFi | RxGt | calc | |
| AsAster | ByBybitCEX | 0.0% | 26.1% | 7.4% | 9.4% | 2.4% | 3.6% | 9.4d | spike ×6.2 | $601k | TradFi | AsBy | calc | |
| PmPolymarket | BgBitgetCEX | −5.5% | −7.6% | 7.4% | 6.0% | 2.2% | 3.2% | 9.9d | mixed | $418k | 1h/8hTradFiinvite only | PmBg | calc | |
| RxRISEx | LiLighter | 4.4% | −8.5% | 2.4% | −7.8% | 0.8% | 1.2% | 9.2d | weak | $323k | TradFi | RxLi | calc | |
| VaVariational | GrGRVT | 0.0% | −4.2% | 3.2% | 1.8% | 0.8% | 1.2% | 10d | weak | $143k | TradFispread not incl. | VaGr | calc | |
| AsAster | GtGateCEX | 0.0% | 40.5% | 7.4% | 9.5% | 1.4% | 2.2% | 11d | spike ×21.0 | $601k | TradFi | AsGt | calc | |
| RxRISEx | PmPolymarket | 5.5% | −8.5% | 4.3% | −8.4% | 0.7% | 1.0% | 12d | cooling | $323k | TradFiinvite only | RxPm | calc | |
| LiLighter | GtGateCEX | −4.4% | 29.0% | 6.3% | 7.1% | 2.4% | 3.5% | 8.7d | spike ×11.6 | $2.9M | 1h/8hTradFi | LiGt | calc | |
| GrGRVT | ByBybitCEX | 0.0% | 23.2% | 5.5% | 7.6% | 0.2% | 0.4% | 13d | spike ×9.2 | $143k | TradFi | GrBy | calc | |
| LiLighter | PmPolymarket | 1.1% | −0.1% | 1.9% | −0.6% | −0.1% | −0.2% | 15d | weak | $418k | TradFiinvite only | LiPm | calc | |
| RxRISEx | GrGRVT | 0.0% | −17.1% | 3.1% | −8.4% | −0.8% | −1.2% | 18d | cooling | $143k | 1h/8hTradFi | RxGr | calc | |
| VaVariational | AsAster | 0.0% | −7.2% | 1.3% | 0.0% | −0.8% | −1.2% | 23d | weak | $601k | TradFispread not incl. | VaAs | calc | |
| AsAster | LiLighter | 4.4% | 11.6% | 1.2% | 2.4% | −0.9% | −1.4% | 25d | weak | $601k | 8h/1hTradFi | AsLi | calc | |
| AsAster | PmPolymarket | 5.5% | 11.5% | 3.1% | 1.8% | −1.1% | −1.6% | 19d | weak | $418k | 8h/1hTradFiinvite only | AsPm | calc | |
| PmPolymarket | ByBybitCEX | −5.5% | 14.6% | 4.3% | 7.6% | −0.7% | −1.0% | 16d | mixed | $418k | 1h/8hTradFiinvite only | PmBy | calc | |
| GrGRVT | GtGateCEX | 0.0% | 37.6% | 5.5% | 7.6% | −0.7% | −1.1% | 16d | spike ×191.4 | $143k | TradFi | GrGt | calc | |
| VaVariational | RxRISEx | 0.0% | 12.8% | 0.0% | 10.2% | −1.5% | −2.3% | 480d | weak | $323k | 8h/1hTradFispread not incl. | VaRx | calc | |
| RxRISEx | AsAster | 0.0% | −20.1% | 1.2% | −10.2% | −2.4% | −3.7% | 42d | weak | $323k | 1h/8hTradFi | RxAs | calc | |
| AsAster | GrGRVT | 0.0% | 3.0% | 1.9% | 1.8% | −2.5% | −3.8% | 32d | weak | $143k | TradFi | AsGr | calc | |
| ByBybitCEX | BgBitgetCEX | 0.0% | −22.2% | 3.1% | −1.6% | −2.9% | −4.3% | 27d | cooling | $23.0M | TradFi | ByBg | calc | |
| GrGRVT | LiLighter | 4.4% | 8.6% | −0.7% | 0.6% | −3.1% | −4.6% | — | weak | $143k | 8h/1hTradFi | GrLi | calc | |
| LiLighter | GrGRVT | −4.4% | −8.6% | 0.7% | −0.6% | −1.6% | −2.4% | 45d | mixed | $143k | 1h/8hTradFi | LiGr | calc | |
| GrGRVT | PmPolymarket | 5.5% | 8.5% | 1.2% | 0.0% | −3.2% | −4.8% | 51d | weak | $143k | 8h/1hTradFiinvite only | GrPm | calc | |
| GtGateCEX | BgBitgetCEX | 0.0% | −36.6% | 3.0% | −1.7% | −4.0% | −6.0% | 32d | cooling | $25.0M | TradFi | GtBg | calc | |
| PmPolymarket | GtGateCEX | −5.5% | 29.0% | 4.3% | 7.6% | −1.7% | −2.5% | 19d | spike ×136.7 | $418k | 1h/8hTradFiinvite only | PmGt | calc | |
| ByBybitCEX | GtGateCEX | 0.0% | 14.4% | 0.1% | 0.0% | −6.7% | −10.1% | >999d | weak | $23.0M | TradFi | ByGt | calc | |
| ByBybitCEX | LiLighter | 4.4% | −14.6% | −6.2% | −7.0% | −9.1% | −13.6% | — | weak | $2.9M | 8h/1hTradFi | ByLi | calc | |
| ByBybitCEX | PmPolymarket | 5.5% | −14.6% | −4.3% | −7.6% | −9.2% | −13.8% | — | weak | $418k | 8h/1hTradFiinvite only | ByPm | calc | |
| GtGateCEX | LiLighter | 4.4% | −29.0% | −6.3% | −7.1% | −10.2% | −15.3% | — | weak | $2.9M | 8h/1hTradFi | GtLi | calc | |
| GtGateCEX | PmPolymarket | 5.5% | −29.0% | −4.3% | −7.6% | −10.3% | −15.5% | — | weak | $418k | 8h/1hTradFiinvite only | GtPm | calc | |
| BgBitgetCEX | LiLighter | 4.4% | 7.7% | −9.3% | −5.4% | −12.4% | −18.7% | — | mixed | $2.9M | 8h/1hTradFi | BgLi | calc | |
| BgBitgetCEX | PmPolymarket | 5.5% | 7.6% | −7.4% | −6.0% | −12.6% | −18.9% | — | mixed | $418k | 8h/1hTradFiinvite only | BgPm | calc | |
| VaVariational | NaNado | 25.3% | −12.9% | −12.8% | 1.2% | −14.6% | −21.9% | — | mixed | $122k | 8h/1hTradFispread not incl. | VaNa | calc | |
| RxRISEx | NaNado | 25.3% | −25.7% | −12.8% | −8.9% | −16.2% | −24.3% | — | mixed | $122k | TradFi | RxNa | calc | |
| LiLighter | NaNado | 20.9% | −17.2% | −15.2% | −1.2% | −17.0% | −25.5% | — | mixed | $122k | TradFi | LiNa | calc | |
| AsAster | NaNado | 25.3% | −5.6% | −14.0% | 1.2% | −17.9% | −26.9% | — | mixed | $122k | 8h/1hTradFi | AsNa | calc | |
| GrGRVT | NaNado | 25.3% | −8.6% | −15.9% | −0.6% | −20.1% | −30.2% | — | mixed | $122k | 8h/1hTradFi | GrNa | calc | |
| PmPolymarket | NaNado | 19.9% | −17.1% | −17.1% | −0.6% | −21.1% | −31.6% | — | mixed | $122k | TradFiinvite only | PmNa | calc | |
| ByBybitCEX | NaNado | 25.3% | −31.8% | −21.4% | −8.2% | −26.1% | −39.1% | — | mixed | $122k | 8h/1hTradFi | ByNa | calc | |
| GtGateCEX | NaNado | 25.3% | −46.2% | −21.5% | −8.2% | −27.2% | −40.8% | — | mixed | $122k | 8h/1hTradFi | GtNa | calc | |
| BgBitgetCEX | NaNado | 25.3% | −9.5% | −24.5% | −6.6% | −29.5% | −44.2% | — | mixed | $122k | 8h/1hTradFi | BgNa | calc | |
What the columns and badges mean
- now
- Current funding spread APR: short-leg rate minus long-leg rate, annualized.
- 24h
- Average spread APR over the last 24 hours, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
- 7d
- Average spread APR over the last 7 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet). Used for ranking and net APR.
- 30d
- Average spread APR over the last 30 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
- 7d trend
- Spread APR over the last 7 days in 6-hour averages; the dashed line is zero.
- Net APR
- 7d spread APR minus taker fees to open and close both legs, spread over the holding period: net = spread7d − fees × 365 / days. Per unit of notional per leg.
- On capital
- Net APR on the capital posted for both legs at this leverage: net × leverage / 2.
- Breakeven
- Days of 7d-average funding needed to pay back open+close taker fees.
- Min OI
- Smaller open interest of the two legs, USD.
- steady
- Steady: prior-week spread at least 5% APR, last 24h positive and no spike, positive now. Not negative in X% of hours over 7 days.
- spike
- The last 24h spread is far above the prior 6-day average (more than 3×, or above 15% APR after a weak prior) — it may not last.
- mixed
- The spread was negative too often: not negative in only X% of hours over 7 days.
- new
- Less than 4 days of shared history in the prior week: stability cannot be judged yet.
- weak
- Prior-week spread under 5% APR: too small to call steady.
- cooling
- The prior week was solid, but the last 24h or the current spread is not positive.
- ≠ asset?
- Mark prices differ by N bps — these may be different assets under one ticker, or contracts of a different size (e.g. per 1,000 coins). Verify before trading.
- stale
- At least one leg has not updated for over 30 minutes.
- low OI
- Open interest under $50k on at least one leg — size carefully.
- 8h/1h
- Funding intervals differ (8h vs 1h): payments are not simultaneous.
- TradFi
- Tokenized stock, index or commodity: trading sessions and oracle rules may differ.
- invite only
- Invite-only venue: an account needs an invite code, so it is not selected by default. Tick it in the venue filter to include it.
- spread not incl.
- A leg trades on quotes with no fee (Variational): the cost is the market maker's quote spread, which we cannot see, so the net APR is before it. Compare the quote with the mark price before you trade.
- CEX
- Centralized exchange: trading needs an account with identity verification (KYC).
Prices now
Buy on the row's venue at its ask, sell on the column's venue at its bid; spread before fees.Indicative · marks from 2026-10-12 04:01 UTC
Live quotes are unavailable right now (last update: never). Shown instead: indicative spreads between mark prices from the funding snapshot. Marks are taken minutes apart and are not prices you can trade at.
MSTR · TradFi
No two venues give a usable spread right now.
| Buy ↓ · Sell → | BgBitget157.6 | ByBybit157.53 | GtGate157.51 | GrGRVT157.504 | NaNado157.503 | RxRISEx157.484 | AsAster157.474 | RwRWA Perp157.41 | PmPolymarket157.36 | LiLighter157.315 | VaVariational157.201 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VaVariational157.201 | 0.253% | 0.209% | 0.196% | 0.192% | 0.192% | 0.180% | 0.174% | 0.133% | 0.101% | 0.072% | — |
| LiLighter157.315 | 0.181% | 0.137% | 0.124% | 0.120% | 0.119% | 0.108% | 0.101% | 0.060% | 0.029% | — | −0.072% |
| PmPolymarket157.36 | 0.152% | 0.108% | 0.095% | 0.092% | 0.091% | 0.079% | 0.073% | 0.032% | — | −0.029% | −0.101% |
| RwRWA Perp157.41 | 0.121% | 0.076% | 0.064% | 0.060% | 0.059% | 0.047% | 0.041% | — | −0.032% | −0.060% | −0.133% |
| AsAster157.474 | 0.080% | 0.035% | 0.023% | 0.019% | 0.018% | 0.006% | — | −0.041% | −0.073% | −0.101% | −0.174% |
| RxRISEx157.484 | 0.073% | 0.029% | 0.016% | 0.012% | 0.012% | — | −0.006% | −0.047% | −0.079% | −0.108% | −0.180% |
| NaNado157.503 | 0.062% | 0.017% | 0.005% | 0.001% | — | −0.012% | −0.018% | −0.059% | −0.091% | −0.119% | −0.192% |
| GrGRVT157.504 | 0.061% | 0.016% | 0.004% | — | −0.001% | −0.012% | −0.019% | −0.060% | −0.092% | −0.120% | −0.192% |
| GtGate157.51 | 0.057% | 0.013% | — | −0.004% | −0.005% | −0.016% | −0.023% | −0.064% | −0.095% | −0.124% | −0.196% |
| ByBybit157.53 | 0.044% | — | −0.013% | −0.016% | −0.017% | −0.029% | −0.035% | −0.076% | −0.108% | −0.137% | −0.209% |
| BgBitget157.6 | — | −0.044% | −0.057% | −0.061% | −0.062% | −0.073% | −0.080% | −0.121% | −0.152% | −0.181% | −0.253% |
All quotes (11)
| Venue | Bid | Ask | Quality | Age | Vol 24h | Flags |
|---|---|---|---|---|---|---|
| AsAster | 157.474 | 157.474 | mark | 2m | $593k | closedno FX |
| BgBitgetCEX | 157.6 | 157.6 | mark | 2m | $23.6M | closedno FX |
| ByBybitCEX | 157.53 | 157.53 | mark | 2m | $6.7M | closedno FX |
| GtGateCEX | 157.51 | 157.51 | mark | 2m | $4.9M | closedno FX |
| GrGRVT | 157.504 | 157.504 | mark | 2m | $905k | closedno FX |
| LiLighter | 157.315 | 157.315 | mark | 2m | $703k | closed |
| NaNado | 157.503 | 157.503 | mark | 2m | $6k | closedno FX |
| PmPolymarket | 157.36 | 157.36 | mark | 2m | $63k | closed |
| RxRISEx | 157.484 | 157.484 | mark | 2m | $1.0M | closed |
| RwRWA Perp | 157.41 | 157.41 | mark | 2m | $950 | closed |
| VaVariational | 157.201 | 157.201 | mark | 2m | $1.3M | closed |
All spreads → · Hatched cells use a mark or mid price, a flagged venue or one outside the default selection.
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