# MSTR funding rates and arbitrage

Updated 2026-11-11 23:42 UTC · https://afterfees.xyz/coin/MSTR

## Best MSTR arbitrage after every cost

No MSTR pair nets a profit at this size right now.

_At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry._

## MSTR funding rate on every exchange

| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| [Phoenix](https://afterfees.xyz/venues/phoenix) | MSTR | 0.0026% | 1 h | +22.7% | +10.9% | — | 2026-11-12 00:00 |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | xyz:MSTR | 0.0020% | 1 h | +17.7% | +5.7% | $38.6M | 2026-11-12 00:00 |
| [Lighter](https://afterfees.xyz/venues/lighter) | MSTR | 0.0017% | 1 h | +14.9% | +10.0% | $1.3M | 2026-11-12 00:00 |
| [Paradex](https://afterfees.xyz/venues/paradex) | MSTR-USD-PERP | 0.0127% | 8 h | +14.0% | — | $527 | 2026-11-12 00:00 |
| [Pacifica](https://afterfees.xyz/venues/pacifica) | MSTR | 0.0013% | 1 h | +10.9% | +5.3% | $160.9K | 2026-11-12 00:00 |
| [Bulk](https://afterfees.xyz/venues/bulk) | MSTR-USD | 0.0013% | 1 h | +10.9% | — | $47.5K | 2026-11-12 00:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | MSTR_PERP | 0.0100% | 8 h | +10.9% | +11.5% | $9.6M | 2026-11-12 00:00 |
| [ApeX](https://afterfees.xyz/venues/apex) | MSTR-USDT | 0.0013% | 1 h | +10.9% | +8.7% | $79.5K | 2026-11-12 00:00 |
| [TXFlow](https://afterfees.xyz/venues/txflow) | MSTR-USDC | 0.0013% | 1 h | +10.9% | — | $40.5K | 2026-11-12 00:00 |
| [Extended](https://afterfees.xyz/venues/extended) | MSTR_24_5-USD | 0.0011% | 1 h | +9.6% | +1.1% | $349.6K | 2026-11-12 00:00 |
| [Nado](https://afterfees.xyz/venues/nado) | MSTR-PERP_USDT0 | 0.0009% | 1 h | +7.8% | +6.6% | $69.2K | 2026-11-12 00:00 |
| [Ondo Perps](https://afterfees.xyz/venues/ondo) | MSTR-USD.P | 0.0006% | 1 h | +5.5% | — | $928.4K | 2026-11-12 00:00 |
| [PopDEX](https://afterfees.xyz/venues/popdex) | MSTRUSDT | 0.0006% | 1 h | +5.5% | −1.8% | — | 2026-11-12 00:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | NCSKMSTR2USD-USDT | 0.0050% | 8 h | +5.5% | +15.5% | $911.3K | 2026-11-12 00:00 |
| [Arcus](https://afterfees.xyz/venues/arcus) | MSTR-USD | 0.0005% | 1 h | +4.4% | +12.9% | $187.7K | 2026-11-12 00:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | MSTRUSDT | 0.0019% | 8 h | +2.1% | +2.4% | — | 2026-11-12 00:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | MSTRUSDT | 0.0000% | 8 h | 0.0% | −6.2% | $23.8M | 2026-11-12 00:00 |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | MSTRUSDTM | 0.0000% | 8 h | 0.0% | +4.5% | $3M | 2026-11-12 00:00 |
| [RISEx](https://afterfees.xyz/venues/risex) | MSTR/USDC | 0.0000% | 1 h | 0.0% | — | $303.5K | 2026-11-12 00:00 |
| [Phemex](https://afterfees.xyz/venues/phemex) | MSTRUSDT | 0.0000% | 4 h | 0.0% | — | $1.3M | 2026-11-12 00:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | MSTRSTOCK_USDT | 0.0000% | 8 h | 0.0% | +1.4% | $10.6M | 2026-11-12 00:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | MSTRUSDT | 0.0000% | 8 h | 0.0% | +12.2% | $28.4M | 2026-11-12 00:00 |
| [OKX](https://afterfees.xyz/venues/okx) | MSTR-USDT-SWAP | 0.0000% | 8 h | 0.0% | −1.9% | $19.9M | 2026-11-12 00:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | MSTRUSDT | 0.0000% | 8 h | 0.0% | +8.8% | — | 2026-11-12 00:00 |
| [GRVT](https://afterfees.xyz/venues/grvt) | MSTR_USDT_Perp | 0.0000% | 8 h | 0.0% | +7.2% | $108K | 2026-11-12 00:00 |
| [Binance](https://afterfees.xyz/venues/binance) | MSTRUSDT | 0.0000% | 8 h | 0.0% | +1.3% | $75.9M | 2026-11-12 00:00 |
| [Aster](https://afterfees.xyz/venues/aster) | MSTRUSDT | 0.0000% | 8 h | 0.0% | −3.0% | $793.7K | 2026-11-12 00:00 |
| [Gate](https://afterfees.xyz/venues/gate) | MSTR_USDT | 0.0000% | 8 h | 0.0% | +0.4% | $15.8M | 2026-11-12 00:00 |
| [Variational](https://afterfees.xyz/venues/variational) | MSTR-PERP | 0.0000% | 8 h | 0.0% | 0.0% | $1.5M | 2026-11-12 00:00 |
| [QFEX](https://afterfees.xyz/venues/qfex) | MSTR-USD | -0.0008% | 1 h | −7.0% | — | $1.3M | 2026-11-11 23:59 |
| [Crypto.com](https://afterfees.xyz/venues/cryptocom) | MSTRUSD-PERP | -0.0011% | 1 h | −9.9% | −35.9% | $31.7K | 2026-11-12 00:00 |

## Cost to enter $10,000 of MSTR

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Lighter | MSTR | 2.4 bp | order-book snapshot, 29 min old |
| Aster | MSTRUSDT | 4.0 bp | order-book snapshot, 45 min old |
| Extended | MSTR_24_5-USD | 4.9 bp | order-book snapshot, 29 min old |
| BingX | NCSKMSTR2USD-USDT | 5.8 bp | order-book snapshot, 59 min old |
| Bybit | MSTRUSDT | 5.9 bp | order-book snapshot, 9 min old |
| LBank | MSTRUSDT | 6.4 bp | order-book snapshot, 39 min old |
| Bitunix | MSTRUSDT | 6.4 bp * | order-book snapshot, 34 min old |
| GRVT | MSTR_USDT_Perp | 6.9 bp | order-book snapshot, 47 min old |
| Binance | MSTRUSDT | 6.9 bp * | order-book snapshot, 12 min old |
| Bitget | MSTRUSDT | 8.0 bp | order-book snapshot, 5 min old |
| OKX | MSTR-USDT-SWAP | 8.1 bp * | order-book snapshot, 10 min old |
| Hyperliquid | xyz:MSTR | 9.6 bp | order-book snapshot, 56 min old |

_Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account._

## Questions

**Is MSTR funding-rate arbitrage profitable right now?**

Not at $10,000 per side for 7 days: no MSTR pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.

**Which exchange has the highest MSTR funding rate?**

Phoenix at +22.7% a year (0.0026% every 1 h); the lowest is Crypto.com at −9.9%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.

_The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you._