Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h −0.015%

Price spread now: Pacifica against Aster−0.048%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.048%, 7d avg −0.003%

Together, before fees+0.096%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.045% cheaper against Aster than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.003%). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	169.60	0.0007	pay 0.0007% / 8h	2h 57m	$1.3M	$6.2M	50x
Short	Pacifica MSTR	169.52	0.0100	get 0.0013% / 1h	57m 25s	$104K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.048%Rate

Funding earned: $19.48
Price spread: −0.048% → −0.003%: −$4.52
Slippage, 4 orders: −$20.96
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$22
Costs to cover: 0.370%
Break-even: 14.9 days

Slippage from Aster: live order book, 1 min ago; Pacifica: live order book, 30 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, 1 min ago	1.77 bp	8.4 bp −$8	95.8 bp −$958	doesn't fit	doesn't fit
Sell Pacifica live order book, 30 min ago	1.44 bp	13.6 bp −$14	doesn't fit	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
Nado MSTR-PERP	−0.0094%	1h	169.47	−0.078%	$140K	$107K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.54	−0.036%	$299K	$467K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.50	−0.059%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	170.02	+0.246%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.61	+0.006%	$2.9M	$55K	10x	as long as short
Aster MSTRUSDTlong	+0.0007%	8h	169.60	long leg	$1.3M	$6.2M	50x
GRVT MSTR_USDT_Perp	+0.0010%	8h	169.87	+0.160%	$83K	$969K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.46	−0.083%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.42	−0.109%	$588K	$1.9M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0039%	8h	169.51	−0.053%	$22.2M	$108.4M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0039%	1h	169.50	−0.059%	$1.5M	$10.2M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.74	+0.082%	$1.5M	$1.1M	10x	as long as short
Vest MSTR-USD-PERP	+0.0049%	1h	169.77	+0.100%	—	$2.1M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.40	−0.118%	$57.0M	$38.6M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.47	−0.077%	$413K	$2.5M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.64	+0.023%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.41	−0.112%	$795K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0061%	8h	169.50	−0.059%	$89.1M	$629.3M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0076%	8h	169.42	−0.105%	$68	—	5x	as long as short
BloFin MSTR-USDT	+0.0082%	8h	170.00	+0.236%	$1.1M	$1.7M	20x	as long as short
Phoenix MSTR	+0.0090%	1h	169.87	+0.156%	$57K	$396K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	169.52	−0.048%	$104K	$154K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.53	−0.042%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.84	+0.141%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.59	−0.006%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.010%	$141	—	10x	as long as short
Bitget MSTRUSDT	+0.0123%	8h	169.49	−0.065%	$28.8M	$119.5M	25x	as long as short
Bybit MSTRUSDT	+0.0157%	8h	169.45	−0.089%	$15.3M	$41.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0399%	1h	169.51	−0.053%	$288K	$439K	10x	as long as short
edgeX MSTRUSDC	+0.0431%	4h	169.92	+0.191%	$50K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.62	+0.011%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.177%	$13K	$22K	30x	as long as short