Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.021%

Price spread now: Aevo against Aster+0.089%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Aevo

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aevo is 0.089% dearer against Aster than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	169.26	0	get 0.0000% / 8h	2h 34m	$1.3M	$6.2M	50x
Short	Aevo MSTR-PERP	169.41	0.0104	get 0.0013% / 1h	34m 46s	$141	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Aster. 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 AsterbpFee AevobpOrdersPrice spread, now +0.089%Rate

Funding earned: $21.84
Price spread: +0.089% → 0.000%: $8.92
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: $6.76
Costs to cover: 0.240%
Break-even: 4.8 days

Slippage unknown: Aster: live order book, 4 min ago; Aevo: no order-book sample. 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 Aster live order book, 4 min ago	1.18 bp	10.0 bp −$10	123.3 bp −$1,233	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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
Nado MSTR-PERP	−0.0146%	1h	169.24	−0.008%	$139K	$101K	3x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	169.26	long leg	$1.3M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.43	+0.104%	$88.7M	$629.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.42	+0.095%	$22.1M	$107.5M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.44	+0.109%	$296K	$437K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.40	+0.084%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.29	+0.018%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.35	+0.054%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.51	+0.149%	$2.9M	$57K	10x	as long as short
BloFin MSTR-USDT	+0.0025%	8h	169.52	+0.154%	$1.1M	$1.8M	20x	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	169.27	+0.007%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.20	−0.035%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.34	+0.048%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.42	+0.095%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.088%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.32	+0.036%	$56.9M	$38.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.34	+0.048%	$416K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.42	+0.095%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.34	+0.048%	$738K	$5.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0067%	8h	169.34	+0.049%	$68	—	5x	as long as short
Bitget MSTRUSDT	+0.0071%	8h	169.45	+0.113%	$28.9M	$119.7M	25x	as long as short
Bybit MSTRUSDT	+0.0087%	8h	169.35	+0.054%	$15.2M	$41.4M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.38	+0.071%	$103K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.22	−0.023%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.39	+0.078%	$4K	$998K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.42	+0.095%	$3K	$12K	10x	as long as short
Aevo MSTR-PERPshort	+0.0104%	1h	169.41	+0.089%	$141	—	10x
Phoenix MSTR	+0.0184%	1h	169.22	−0.023%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0192%	4h	169.19	−0.040%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.40	+0.084%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.094%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0814%	1h	169.43	+0.101%	$288K	$438K	10x	as long as short