Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h −0.021%

Price spread now: Nado against Binance−0.041%48s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$660.656% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.200%−$20 · spread now −0.041%, 7d avg −0.028%

Together, before fees−0.280%+ Points / potential airdropNado: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.079%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	164.07	0.0273	pay 0.0273% / 8h	40m 37s	$84.5M	$621.1M	50x
Short	Nado MSTR-PERP	164.00	0.0337	get 0.0042% / 1h	40m 37s	$126K	$165K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.041%Rate

Funding earned: $13.58
Price spread: −0.041% → −0.028%: −$1.36
Slippage, 4 orders: −$48.56
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.34
Costs to cover: 0.656%
Break-even: 34.5 days

Slippage from Binance: live order book, 3 min ago; Nado: live order book, 62 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 Binance live order book, 3 min ago	0.31 bp	6.1 bp −$6	9.0 bp −$90	26.6 bp −$2,661	doesn't fit
Sell Nado live order book, 62 min ago	7.06 bp	28.6 bp −$29	85.8 bp −$858	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	−0.0403%	8h	164.09	+0.011%	$29.5M	$118.9M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.10	+0.018%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.05	−0.013%	$2.8M	$82K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.85	−0.135%	$502K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.211%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.14	+0.042%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.07	−0.001%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.96	−0.068%	$379K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.79	−0.171%	$868K	$3.7M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.05	−0.013%	$1.3M	$7.1M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MSTRUSDT	+0.0079%	8h	163.93	−0.089%	$1.8M	$8.7M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.00	−0.042%	$101K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.94	−0.080%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.93	−0.086%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.00	−0.043%	$2K	$13K	10x	as long as short
Lighter MSTR	+0.0104%	1h	163.97	−0.062%	$3.5M	$2.0M	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.04	−0.019%	$136	—	10x	as long as short
SoDEX MSTR-USD	+0.0134%	1h	164.07	−0.001%	$43K	$3K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0136%	1h	161.52	−1.555%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0173%	8h	164.01	−0.035%	$66	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0199%	8h	164.00	−0.043%	$20.9M	$100.1M	50x	as long as short
Variational Omni MSTR	+0.0202%	8h	164.04	−0.017%	$1.2M	$2.0M	—	as long as short
edgeX MSTRUSDC	+0.0258%	4h	164.02	−0.028%	$46K	$5.4M	10x	as long as short
Binance MSTRUSDTlong	+0.0273%	8h	164.07	long leg	$84.5M	$621.1M	50x
GRVT MSTR_USDT_Perp	+0.0285%	8h	164.08	+0.005%	$85K	$849K	10x	as long as short
Nado MSTR-PERPshort	+0.0337%	1h	164.00	−0.041%	$126K	$165K	3x
Phoenix MSTR	+0.0357%	1h	164.20	+0.078%	$56K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0392%	8h	164.11	+0.024%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0418%	8h	164.01	−0.037%	$17.1M	$41.7M	50x	as long as short
RISEx MSTR/USDC	+0.0493%	1h	164.01	−0.034%	$267K	$422K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0511%	1h	164.08	+0.005%	$54.2M	$37.8M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0849%	1h	164.02	−0.031%	$279K	$437K	10x	as long as short