Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −0.051%

Price spread now: Binance against Arcus−0.210%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+1.246%+$125 · spread now −0.210%, 7d avg +0.045%

Together, before fees+1.189%+$119 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.255% cheaper against Arcus than usual: you would sell low and buy high (spread −0.210% now, against its 7-day average of +0.045%). If the spread goes back, that is −$26 on $10k: about 11 days of funding at the current rate (+$2 a day). Mind the row above: over the last 4 days funding on this pair cost −0.057%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	165.02	0.0040	pay 0.0005% / 1h	48m 11s	$27K	$109K	10x
Short	Binance MSTRUSDT	164.67	0.0120	get 0.0120% / 8h	4h 48m	$88.0M	$617.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now −0.210%Rate

Funding earned: $16.8
Price spread: −0.210% → +0.045%: −$25.5
Slippage, 4 orders: −$20.92
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$44.11
Costs to cover: 0.354%
Break-even: 25.4 days

Slippage from Arcus: live order book, 10 min ago; Binance: live order book, 11 min ago.

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 Arcus live order book, 10 min ago	7.57 bp	11.1 bp −$11	44.9 bp −$449	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.30 bp	6.3 bp −$6	10.1 bp −$101	27.6 bp −$2,757	97.7 bp −$48.8K

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
Bitget MSTRUSDT	−0.0805%	8h	164.86	−0.097%	$27.8M	$115.0M	25x	as long as short
Gate MSTR_USDT	−0.0047%	8h	164.74	−0.170%	$4.6M	$18.4M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.69	−0.197%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.69	−0.200%	$2.8M	$71K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0009%	8h	164.70	−0.194%	$20.7M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.54	−0.291%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.48	−0.327%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.618%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.77	−0.154%	$267K	$449K	10x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	165.02	long leg	$27K	$109K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.71	−0.188%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.68	−0.206%	$382K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.67	−0.212%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.54	−0.291%	$868K	$4.1M	10x	as long as short
Variational Omni MSTR	+0.0051%	8h	164.95	−0.045%	$1.2M	$2.1M	—	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.73	−0.176%	$1.4M	$7.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.76	−0.159%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.58	−0.267%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.84	−0.109%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.70	−0.194%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.66	−0.220%	$137	—	10x	as long as short
Binance MSTRUSDTshort	+0.0120%	8h	164.67	−0.210%	$88.0M	$617.3M	50x
Paradex MSTR-USD-PERP	+0.0141%	8h	164.71	−0.190%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0155%	8h	165.23	+0.125%	$79K	$758K	10x	as long as short
edgeX MSTRUSDC	+0.0167%	4h	165.21	+0.113%	$49K	$5.4M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.77	−0.151%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	165.22	+0.121%	$56K	$226K	10x	as long as short
BloFin MSTR-USDT	+0.0239%	8h	164.83	−0.115%	$1.0M	$2.0M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0257%	1h	164.61	−0.248%	$54.9M	$36.9M	10x	as long as short
Nado MSTR-PERP	+0.0310%	1h	164.59	−0.258%	$122K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0360%	8h	164.74	−0.170%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0966%	1h	164.71	−0.188%	$280K	$438K	10x	as long as short