Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.016%

Price spread now: Aster against Aevo+0.043%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.043% dearer against Aevo than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSTR-PERP	167.81	0.0104	pay 0.0013% / 1h	17m 17s	$139	—	10x
Short	Aster MSTRUSDT	167.88	0	get 0.0000% / 8h	7h 17m	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

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

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee AsterbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$21.84
Price spread: +0.043% → 0.000%: $4.29
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$41.55
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	1.49 bp	6.8 bp −$7	227.5 bp −$2,275	doesn't fit	doesn't fit

Aevo: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSTR_USDT	−0.0070%	8h	167.95	+0.084%	$4.7M	$19.0M	50x	as long as short
Nado MSTR-PERP	−0.0019%	1h	167.86	+0.027%	$124K	$99K	3x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	167.88	+0.043%	$1.2M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	167.84	+0.018%	$21.6M	$100.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.00	+0.113%	$28.0M	$113.3M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.34	+0.314%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.32	+0.303%	$85K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.96	+0.089%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0006%	8h	167.85	+0.024%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0009%	8h	167.94	+0.078%	$88.5M	$614.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	167.77	−0.024%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	167.69	−0.068%	$577K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.00	+0.113%	$1.4M	$8.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.31	+0.298%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.87	+0.036%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	167.90	+0.054%	$394K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	167.87	+0.036%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	167.80	−0.006%	$735K	$4.9M	10x	as long as short
Bybit MSTRUSDT	+0.0072%	8h	167.99	+0.107%	$16.0M	$39.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.06	+0.149%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0094%	8h	168.00	+0.115%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.05	+0.141%	$104K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	167.92	+0.066%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.27	+0.274%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.80	−0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	167.81	long leg	$139	—	10x
tradeXYZ xyz:MSTR	+0.0216%	1h	167.96	+0.089%	$56.7M	$35.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.912%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.22	+0.244%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.00	+0.110%	$274K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0797%	4h	168.37	+0.332%	$46K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0943%	1h	167.87	+0.036%	$285K	$438K	10x	as long as short