Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0039%/8h= −4.2% APRpaid last 24h −0.033%

Price spread now: Coinbase International against Binance−0.786%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)+0.885%+$89 · spread now −0.786%, 7d avg −0.076%

Together, before fees+1.029%+$103 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.710% cheaper against Binance than usual: you would sell low and buy high (−$71 if the spread goes back to its 7-day average of −0.076%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, 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	Binance MSTRUSDT	162.80	0.0207	pay 0.0207% / 8h	2h 18m	$83.5M	$628.0M	50x
Short	Coinbase International MSTR-PERP-INTX	161.52	0.0168	get 0.0021% / 1h	18m 10s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.786%Rate

Funding earned: −$8.1
Price spread: −0.786% → −0.076%: −$70.99
Slippage, 4 orders: −$12.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$111.46
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Coinbase International: live order book, just now.

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 Binance live order book, 11 min ago	0.62 bp	7.1 bp −$7	11.1 bp −$111	30.3 bp −$3,033	doesn't fit
Sell Coinbase International live order book, just now	3.38 bp	8.4 bp −$8	13.3 bp −$133	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
Bitget MSTRUSDT	−0.1309%	8h	162.99	+0.117%	$27.1M	$118.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.88	+0.049%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.91	+0.068%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0003%	8h	162.81	+0.008%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0021%	1h	162.44	−0.221%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.70	−0.061%	$503K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.017%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.48	−0.197%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.76	−0.025%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.75	−0.031%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.56	−0.147%	$866K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	162.67	−0.080%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.78	−0.015%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.69	−0.064%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.71	−0.055%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	161.80	−0.614%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.83	+0.018%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.83	+0.017%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0105%	8h	162.80	0.000%	$20.6M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	−0.352%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0144%	1h	162.81	+0.006%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0149%	8h	162.73	−0.040%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	161.52	−0.786%	$1.4M	$1.1M	10x
Binance MSTRUSDTlong	+0.0207%	8h	162.80	long leg	$83.5M	$628.0M	50x
GRVT MSTR_USDT_Perp	+0.0214%	8h	161.97	−0.510%	$78K	$850K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0309%	1h	162.73	−0.043%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.68	−0.074%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0353%	1h	162.64	−0.098%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0362%	1h	162.32	−0.292%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.82	+0.012%	$16.7M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0611%	1h	162.81	+0.006%	$277K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0737%	4h	162.33	−0.288%	$45K	$5.4M	10x	as long as short