₿64.1k · STRC 87.5 +915

The digital credit desk
in your Mac menu bar

Live yields, spreads over the 10Y, mNAV, coverage and dividend runway on Bitcoin treasury companies and their credit — STRC, SATA, STRF and the whole complex. One glance, always on.

Buy Spread — $14 launch $19 Free 7-day trial

One-time payment in Bitcoin or 100+ cryptos · no subscription · pay once, own it

$64,102 +0.5% 10Y 4.57% · 3M 3.69%
vs 1390d base +2%   vs 400d cycle −29%   vs power law −15%   Mayer 0.86
pxyldsprdΔ7dntldiv/mocov
STRD60.816.5%+1,189−3$1.7B$14.2M18mo
STRC87.513.7%+915−2$10.5B$104.9M18mo
SATA97.513.3%+876−13$495M$5.4M27mo
STRF96.110.4%+584−14$2.0B$16.7M18mo
MSTR
1.03×
ASST
1.13×
MTPLF
0.68×
XXI
0.84×
MARA
8.9×
Why it exists

A $10B/month market with no desk tool

Spreads, not prices

Anyone can show you STRC's price. Spread shows current yield, the spread over the 10-year Treasury in basis points, and how that spread moved this week — the actual trade signal, the way a credit desk reads it.

Risk metrics nobody else computes

mNAV per treasury company, BTC beta, asset coverage per credit layer, breakeven BTC price, months of dividend runway, taxable-equivalent yield, pull-to-par return. Click any row — it's all there.

Eleven charts, research-grade

Spread history, drawdown from highs, RSI heatmaps, halving-cycle overlays, the 200-week geometric MA — the charts the analysts you follow publish, computed live for any instrument you track.

A maintained fundamentals feed

BTC held, share counts, cash and debt update with every 8-K — server-side, within hours, no app update. When Strategy files, your numbers are already right.

Your universe, your strip

Add or remove any treasury company or credit instrument — the roster grows monthly. Choose exactly what lives in your menu bar: BTC, any spread, any mNAV, the 10Y.

Local-first, no account

No sign-up, no cloud, no telemetry. Market data flows straight to your Mac. Buy once with Bitcoin (or 100+ cryptos), own it forever.

Pricing

Pay once. Own it.

$14 once$19

launch-week price

Buy Spread — $14

macOS 12+ · Apple Silicon · ~15 MB · pay in BTC, ETH, USDC + 100 more

Questions

Good to know

What exactly does it track?

Out of the box: Strategy's preferreds (STRC, STRF, STRK, STRD), Strive's SATA, and the treasury companies MSTR, ASST, Metaplanet, Twenty One Capital and MARA — plus BTC itself against its long-run anchors. Add or remove anything, including custom instruments, in two clicks.

Where do the numbers come from?

Prices stream from public market data every 60 seconds. Fundamentals (BTC held, share counts, cash, debt) come from our maintained feed, updated from SEC filings — usually within hours of an 8-K. Every metric definition is documented, and our outputs reconcile with the analysts this community already trusts.

How does the trial and license work?

Download and use everything free for 7 days — no signup. Buying gets you a license key on the receipt page instantly; paste it into the app and you're done. One-time payment, no subscription, nothing renews.

How do crypto payments work?

Checkout shows an amount and an address — pay from any wallet or exchange (Coinbase, Strike, Cash App…). The page confirms in a few minutes and displays your key. We never see your wallet or store payment details.

Is this investment advice?

No. Spread is an information tool that computes publicly derivable metrics. Nothing in it is a recommendation to buy or sell anything. Do your own research.