Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h −0.020%

Price spread now: Coinbase International against Aster−0.160%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.160%, 7d avg −0.063%

Together, before fees+0.381%+ Points / potential airdropAster: Stage 5 · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.098% cheaper against Aster than usual: you would sell low and buy high (spread −0.160% now, against its 7-day average of −0.063%). If the spread goes back, that is −$10 on $10k: about 47 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	162.80	0	get 0.0000% / 8h	2h 39m	$1.8M	$8.6M	50x
Short	Coinbase International MSTR-PERP-INTX	162.54	0.0168	get 0.0021% / 1h	39m 00s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.160%Rate

Funding earned: $35.28
Price spread: −0.160% → −0.063%: −$9.77
Slippage, 4 orders: −$21.32
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.81
Costs to cover: 0.393%
Break-even: 9.7 days

Slippage from Aster: live order book, 5 min ago; Coinbase International: live order book, 5 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 Aster live order book, 5 min ago	1.53 bp	7.9 bp −$8	95.5 bp −$955	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	6.74 bp	11.7 bp −$12	16.8 bp −$168	doesn't fit	doesn't fit

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	−0.1014%	8h	163.05	+0.153%	$27.0M	$117.6M	25x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	162.80	long leg	$1.8M	$8.6M	50x
Gate MSTR_USDT	0.0000%	8h	162.82	+0.012%	$4.6M	$19.4M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.22	+0.257%	$2.7M	$77K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.59	−0.127%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.016%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.19	+0.239%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0044%	1h	162.30	−0.308%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.66	−0.087%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.73	−0.044%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.50	−0.185%	$833K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	162.73	−0.044%	$1.4M	$7.2M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0083%	8h	162.85	+0.030%	$20.6M	$99.8M	50x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.68	−0.077%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.75	−0.032%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.70	−0.062%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.83	+0.018%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.74	−0.038%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.78	−0.012%	$135	—	10x	as long as short
Variational Omni MSTR	+0.0114%	8h	163.08	+0.171%	$1.2M	$2.0M	—	as long as short
Paradex MSTR-USD-PERP	+0.0134%	8h	162.70	−0.065%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	162.54	−0.160%	$1.4M	$1.1M	10x
Binance MSTRUSDT	+0.0184%	8h	162.80	+0.002%	$85.0M	$624.5M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0188%	8h	163.15	+0.216%	$79K	$839K	10x	as long as short
Lighter MSTR	+0.0200%	1h	162.64	−0.099%	$3.4M	$1.9M	10x	as long as short
BloFin MSTR-USDT	+0.0304%	8h	162.75	−0.031%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0353%	8h	162.88	+0.048%	$16.6M	$41.3M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0361%	1h	162.77	−0.019%	$54.2M	$37.1M	10x	as long as short
Phoenix MSTR	+0.0362%	1h	162.94	+0.085%	$55K	$226K	10x	as long as short
Nado MSTR-PERP	+0.0364%	1h	162.54	−0.160%	$120K	$148K	3x	as long as short
edgeX MSTRUSDC	+0.0838%	4h	163.37	+0.351%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0918%	1h	162.80	−0.001%	$277K	$438K	10x	as long as short