Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.032%

Price spread now: Ondo Perps against Aster−0.096%7-day average −0.074% · you buy dearer than you sell

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

Long on Aster Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days−0.304%−$30 · spread now −0.096%, 7d avg −0.074%

Together, before fees−0.214%+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm board−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.022% cheaper against Aster than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of −0.074%). If the spread goes back, that is −$2 on $10k: about 35 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	165.44	0	get 0.0000% / 8h	6h 50m	$1.2M	$6.1M	50x
Short	Ondo Perps MSTR-USD.P	165.28	0.0050	get 0.0006% / 1h	50m 27s	$781K	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.096%Rate

Funding earned: $10.58
Price spread: −0.096% → −0.074%: −$2.19
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.61
Costs to cover: 0.130%
Break-even: 10.0 days

Slippage unknown: Aster: live order book, 3 min ago; Ondo Perps: 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, 3 min ago	1.21 bp	13.7 bp −$14	433.0 bp −$4,330	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget MSTRUSDT	−0.0314%	8h	165.58	+0.086%	$26.9M	$115.2M	25x	as long as short
Gate MSTR_USDT	−0.0310%	8h	165.51	+0.043%	$4.6M	$18.7M	50x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	165.44	long leg	$1.2M	$6.1M	50x
Binance MSTRUSDT	0.0000%	8h	165.48	+0.025%	$87.2M	$623.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.48	+0.025%	$21.2M	$100.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	165.54	+0.062%	$271K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	165.36	−0.048%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	165.86	+0.252%	$84K	$802K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.06	+0.376%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0016%	8h	165.39	−0.029%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.26	−0.105%	$569K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.50	+0.037%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.21	−0.138%	—	$1.8M	25x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	165.28	−0.096%	$781K	$4.7M	10x
SoDEX MSTR-USD	+0.0054%	1h	165.35	−0.053%	$44K	$3K	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	165.52	+0.049%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.53	+0.055%	$103K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.44	+0.001%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.45	+0.007%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.24	−0.120%	$3K	$7K	10x	as long as short
Lighter MSTR	+0.0104%	1h	165.49	+0.031%	$3.5M	$1.9M	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.24	−0.121%	$137	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0117%	1h	165.43	−0.005%	$384K	$2.7M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0135%	8h	165.53	+0.053%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.21	−0.138%	$1.4M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0322%	1h	165.48	+0.025%	$55.6M	$36.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.358%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0370%	1h	165.31	−0.080%	$134K	$129K	3x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	165.60	+0.098%	$17.3M	$41.1M	50x	as long as short
Phoenix MSTR	+0.0381%	1h	165.41	−0.016%	$55K	$219K	10x	as long as short
edgeX MSTRUSDC	+0.0963%	4h	165.32	−0.069%	$46K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1203%	1h	165.45	+0.007%	$281K	$438K	10x	as long as short