Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.030%

Price spread now: Extended against Aster−0.032%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.032%, 7d avg −0.074%

Together, before fees+0.143%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.042% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	167.94	0	get 0.0000% / 8h	7h 16m	$1.2M	$6.1M	50x
Short	Extended MSTR_24_5-USD	167.89	0.0032	get 0.0004% / 1h	16m 37s	$577K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.032%Rate

Funding earned: $6.72
Price spread: −0.032% → −0.074%: $4.23
Slippage, 4 orders: −$12.71
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$14.76
Costs to cover: 0.257%
Break-even: 22.4 days

Slippage from Aster: live order book, 2 min ago; Extended: live order book, 2 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, 2 min ago	1.49 bp	6.6 bp −$7	113.8 bp −$1,138	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.49 bp	5.0 bp −$5	21.6 bp −$216	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
Gate MSTR_USDT	−0.0078%	8h	168.08	+0.081%	$4.7M	$19.0M	50x	as long as short
Nado MSTR-PERP	−0.0012%	1h	167.85	−0.053%	$128K	$103K	3x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	167.94	long leg	$1.2M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	168.06	+0.069%	$21.6M	$100.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.12	+0.105%	$28.0M	$113.3M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.34	+0.234%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.32	+0.223%	$85K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.96	+0.010%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0006%	8h	167.85	−0.056%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0009%	8h	168.07	+0.073%	$88.5M	$613.9M	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	167.96	+0.010%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	167.89	−0.032%	$577K	$1.8M	10x
QFEX MSTR-USD	+0.0035%	1h	168.04	+0.057%	$1.4M	$8.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.22	+0.165%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.87	−0.044%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	167.90	−0.026%	$394K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	167.87	−0.044%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	167.80	−0.085%	$766K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.06	+0.069%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0097%	8h	168.00	+0.032%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.07	+0.073%	$104K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	167.93	−0.008%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.27	+0.194%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.80	−0.085%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	167.81	−0.080%	$139	—	10x	as long as short
Bybit MSTRUSDT	+0.0106%	8h	168.09	+0.087%	$16.0M	$39.5M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0218%	1h	168.00	+0.034%	$56.7M	$35.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.832%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.22	+0.165%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.05	+0.066%	$274K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0797%	4h	168.37	+0.252%	$46K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0943%	1h	167.87	−0.044%	$285K	$438K	10x	as long as short