Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0219%/8h= −24.0% APRpaid last 24h −0.004%

Price spread now: SoDEX against Aster−0.080%7-day average — · you buy dearer than you sell

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

Long on Aster Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SoDEX is 0.080% cheaper against Aster than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	166.03	0.0269	pay 0.0269% / 8h	4h 51m	$1.8M	$6.3M	50x
Short	SoDEX MSTR-USD	165.90	0.0050	get 0.0006% / 1h	51m 49s	$44K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$46.03
Price spread: −0.080% → 0.000%: −$8.02
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$70.05
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 5 min ago; SoDEX: 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, 5 min ago	1.20 bp	7.2 bp −$7	32.5 bp −$325	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 exchanges

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	0.0000%	8h	166.08	+0.028%	$4.9M	$17.0M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.09	+0.034%	$32.2M	$102.7M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.95	−0.050%	$2.8M	$84K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.85	−0.110%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.89	−0.087%	$1.0M	$2.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	165.22	−0.490%	$7K	$28K	30x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.04	+0.004%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.83	−0.122%	$383K	$2.4M	10x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	165.90	−0.080%	$44K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.86	−0.104%	$862K	$3.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	165.89	−0.086%	$1.3M	$5.7M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	165.89	−0.086%	$1.4M	$354K	10x	as long as short
Nado MSTR-PERP	+0.0068%	1h	165.85	−0.111%	$127K	$126K	3x	as long as short
Paradex MSTR-USD-PERP	+0.0086%	8h	165.89	−0.085%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.83	−0.120%	$101K	$64K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.92	−0.068%	$2.3M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.22	+0.113%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.92	−0.068%	$2K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.98	−0.031%	$138	$100	10x	as long as short
Bybit MSTRUSDT	+0.0151%	8h	166.05	+0.010%	$16.6M	$37.7M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0187%	1h	165.94	−0.056%	$54.9M	$33.4M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0262%	8h	166.03	−0.002%	$21.9M	$79.7M	50x	as long as short
Aster MSTRUSDTlong	+0.0269%	8h	166.03	long leg	$1.8M	$6.3M	50x
Phoenix MSTR	+0.0308%	1h	166.28	+0.146%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0360%	8h	166.44	+0.243%	$1.2M	$1.6M	—	as long as short
Binance MSTRUSDT	+0.0448%	8h	166.00	−0.018%	$86.7M	$516.5M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0450%	8h	166.43	+0.238%	$87K	$941K	10x	as long as short
RISEx MSTR/USDC	+0.0459%	1h	166.02	−0.008%	$274K	$347K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0534%	1h	165.91	−0.074%	$282K	$184K	10x	as long as short
edgeX MSTRUSDC	+0.0579%	4h	166.39	+0.214%	$51K	$4.5M	10x	as long as short
BloFin MSTR-USDT	+0.0586%	8h	166.08	+0.028%	$1.1M	$2.0M	20x	as long as short
Arcus MSTR-USD	+0.0803%	1h	166.03	−0.002%	$26K	$63K	10x	as long as short