Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h −0.032%

Price spread now: Polymarket Perps against Aster−0.008%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Aster Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

Price spread, last 7 days+0.005%$0 · spread now −0.008%, 7d avg −0.061%

Together, before fees+0.142%+ Points / potential airdropAster: Stage 5 · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.054% dearer against Aster than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	164.71	0	get 0.0000% / 8h	6h 29m	$1.2M	$6.1M	50x
Short	Polymarket Perps MSTR-USD	164.70	0.0106	get 0.0013% / 1h	29m 05s	$383K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.008%Rate

Funding earned: $22.28
Price spread: −0.008% → −0.061%: $5.36
Slippage, 4 orders: −$11.72
Fee Aster: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$0.08
Costs to cover: 0.277%
Break-even: 7.0 days

Slippage from Aster: live order book, 5 min ago; Polymarket Perps: 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	1.52 bp	6.5 bp −$6	67.7 bp −$677	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.91 bp	6.4 bp −$6	8.1 bp −$81	10.5 bp −$1,054	doesn't fit

MSTR on 31 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	−0.1000%	8h	164.81	+0.059%	$27.4M	$115.8M	25x	as long as short
Gate MSTR_USDT	−0.0124%	8h	164.78	+0.041%	$4.6M	$19.0M	50x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	164.71	long leg	$1.2M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	164.72	+0.005%	$20.8M	$100.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.82	+0.068%	$270K	$437K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.40	−0.190%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.71	−0.002%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.45	−0.159%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.55	−0.099%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.70	−0.008%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MSTRUSDT	+0.0047%	8h	164.70	−0.008%	$87.7M	$625.4M	50x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.11	−0.366%	$918K	$4.8M	10x	as long as short
SoDEX MSTR-USD	+0.0052%	1h	164.54	−0.105%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0058%	8h	164.22	−0.297%	$75K	$810K	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.81	+0.059%	$1.4M	$8.4M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.72	+0.003%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.60	−0.068%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.26	−0.275%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.71	−0.002%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.58	−0.083%	$137	—	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0106%	1h	164.70	−0.008%	$383K	$2.7M	10x
Lighter MSTR	+0.0128%	1h	164.53	−0.111%	$3.5M	$1.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.37	−0.208%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0177%	8h	164.78	+0.039%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0291%	1h	164.57	−0.087%	$55.3M	$36.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.809%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0381%	1h	164.43	−0.172%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0387%	1h	164.64	−0.045%	$111K	$143K	3x	as long as short
Bybit MSTRUSDT	+0.0423%	8h	164.73	+0.011%	$17.2M	$41.3M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0662%	1h	164.61	−0.062%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0990%	4h	164.44	−0.164%	$48K	$5.5M	10x	as long as short