Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: OKX against Binance+0.006%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 2 days (all we have)+0.047%+$5 · spread now +0.006%, 7d avg +0.005%

Together, before fees+0.075%+$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	168.82	0	get 0.0000% / 8h	1h 28m	$88.2M	$629.1M	50x
Short	OKX MSTR-USDT-SWAP	168.83	0	get 0.0000% / 8h	1h 28m	$22.0M	$106.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → +0.005%: $0.04
Slippage, 4 orders: −$4.29
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.25
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; OKX: 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 Binance live order book, 15 min ago	0.29 bp	5.9 bp −$6	9.5 bp −$95	24.6 bp −$2,455	116.3 bp −$58.1K
Sell OKX live order book, 5 min ago	0.30 bp	6.1 bp −$6	11.3 bp −$113	57.1 bp −$5,713	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	−0.0117%	1h	168.62	−0.120%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	168.83	+0.006%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.74	−0.047%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDTlong	0.0000%	8h	168.82	long leg	$88.2M	$629.1M	50x
OKX MSTR-USDT-SWAPshort	0.0000%	8h	168.83	+0.006%	$22.0M	$106.7M	50x
RISEx MSTR/USDC	0.0000%	1h	168.77	−0.030%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.79	−0.018%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.91	+0.053%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.72	−0.060%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.85	+0.018%	$2.9M	$61K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.82	0.000%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.72	−0.059%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.65	−0.103%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.80	−0.012%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.75	−0.041%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.72	−0.059%	$396K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.72	−0.059%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.64	−0.107%	$741K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0052%	8h	168.78	−0.024%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.095%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0062%	1h	168.75	−0.041%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0069%	8h	168.65	−0.101%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.74	−0.049%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.74	−0.047%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	+0.124%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.75	−0.041%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.73	−0.055%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	+0.114%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0278%	4h	169.05	+0.135%	$47K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.278%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.85	+0.018%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0639%	1h	168.84	+0.012%	$287K	$439K	10x	as long as short