Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h +0.023%

Price spread now: tradeXYZ against Aster+0.001%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Aster Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 7 days−0.046%−$5 · spread now +0.001%, 7d avg −0.054%

Together, before fees+0.156%+ Points / potential airdropAster: Stage 5 · tradeXYZ: Active · farm board+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.055% dearer against Aster than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.054%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.201%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	166.00	0.0257	pay 0.0257% / 8h	5h 07m	$1.8M	$6.3M	50x
Short	tradeXYZ xyz:MSTR	166.00	0.0221	get 0.0028% / 1h	7m 42s	$54.8M	$33.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$7.47
Price spread: +0.001% → −0.054%: $5.47
Slippage, 4 orders: −$10.93
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$38.93
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; tradeXYZ: 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, 4 min ago	1.21 bp	9.7 bp −$10	37.0 bp −$370	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.90 bp	10.5 bp −$10	12.5 bp −$125	doesn't fit	doesn't fit

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.469%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.12	+0.073%	$4.9M	$17.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.12	+0.073%	$32.3M	$103.1M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.99	−0.005%	$2.8M	$83K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.99	−0.005%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.88	−0.069%	$553K	$1.9M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.01	+0.007%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	165.96	−0.023%	$1.3M	$5.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.95	−0.029%	$391K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.95	−0.029%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.65	−0.210%	$858K	$3.2M	10x	as long as short
Nado MSTR-PERP	+0.0068%	1h	165.92	−0.046%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.58	−0.252%	$1.4M	$356K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	166.02	+0.014%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.94	−0.033%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.88	−0.071%	$2.3M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.76	−0.144%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.95	−0.029%	$2K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.99	−0.006%	$138	—	10x	as long as short
Bybit MSTRUSDT	+0.0171%	8h	166.10	+0.061%	$16.6M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTRshort	+0.0221%	1h	166.00	+0.001%	$54.8M	$33.5M	10x
Aster MSTRUSDTlong	+0.0257%	8h	166.00	long leg	$1.8M	$6.3M	50x
OKX MSTR-USDT-SWAP	+0.0259%	8h	166.06	+0.037%	$21.8M	$80.5M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	165.87	−0.080%	$55K	$213K	10x	as long as short
Variational Omni MSTR	+0.0351%	8h	165.80	−0.117%	$1.2M	$1.6M	—	as long as short
Binance MSTRUSDT	+0.0435%	8h	166.04	+0.025%	$87.1M	$519.7M	50x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.04	+0.028%	$274K	$348K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0447%	8h	165.85	−0.090%	$85K	$922K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0534%	1h	166.00	+0.001%	$282K	$184K	10x	as long as short
edgeX MSTRUSDC	+0.0544%	4h	165.84	−0.092%	$49K	$4.6M	10x	as long as short
BloFin MSTR-USDT	+0.0574%	8h	165.98	−0.011%	$1.1M	$2.0M	20x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.10	+0.061%	$26K	$63K	10x	as long as short