Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Variational Omni against Aster−0.050%7-day average +0.036% · you buy dearer than you sell

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

Long on Aster Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.050%, 7d avg +0.036%

Together, before fees+0.061%+ Points / potential airdropAster: Stage 5 · Variational Omni: Active · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.086% cheaper against Aster than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	168.82	0	get 0.0000% / 8h	7h 41m	$1.2M	$6.1M	50x
Short	Variational Omni MSTR	168.74	0	get 0.0000% / 8h	7h 41m	$1.2M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → +0.036%: −$8.59
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.59
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 2 min ago	2.66 bp	8.2 bp −$8	213.5 bp −$2,135	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.95 bp	doesn't fit	7.7 bp −$77	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	−0.0080%	1h	168.74	−0.052%	$139K	$97K	3x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	168.82	long leg	$1.2M	$6.1M	50x
Bybit MSTRUSDT	0.0000%	8h	168.67	−0.091%	$15.1M	$39.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.59	−0.138%	$21.7M	$102.2M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.75	−0.043%	$4.7M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.78	−0.025%	$28.5M	$114.3M	25x	as long as short
Variational Omni MSTRshort	0.0000%	8h	168.74	−0.050%	$1.2M	$2.1M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	168.93	+0.066%	$85K	$860K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.75	−0.043%	$2.8M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.61	−0.126%	$3.6M	$2.0M	10x	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	168.65	−0.102%	$579K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.72	−0.061%	$1.4M	$9.6M	10x	as long as short
BloFin MSTR-USDT	+0.0036%	8h	168.71	−0.067%	$1.1M	$1.9M	20x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.05	+0.135%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.85	+0.016%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.71	−0.067%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.73	−0.055%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.93	+0.063%	$743K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0065%	8h	168.67	−0.089%	$89.0M	$617.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.043%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0088%	8h	168.73	−0.052%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.78	−0.027%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.75	−0.043%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.08	+0.152%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.81	−0.008%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.76	−0.037%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0187%	1h	168.71	−0.067%	$56.9M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.306%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	169.03	+0.121%	$57K	$384K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0343%	1h	168.74	−0.049%	$287K	$438K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.75	−0.041%	$275K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0574%	4h	169.07	+0.147%	$47K	$5.5M	10x	as long as short