Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.031%

Price spread now: Pacifica against Binance−0.022%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

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

costs, in and out, $10k−$290.293% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)−1.571%−$157 · spread now −0.022%, 7d avg −0.072%

Together, before fees−1.526%+ Points / potential airdropPacifica: Active · farm board−$153 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Pacifica is 0.050% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	164.15	0.0088	pay 0.0088% / 8h	5h 41m	$88.0M	$619.3M	50x
Short	Pacifica MSTR	164.11	0.0100	get 0.0013% / 1h	41m 47s	$100K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.022%Rate

Funding earned: $2.46
Price spread: −0.022% → −0.072%: $4.97
Slippage, 4 orders: −$11.26
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$21.83
Costs to cover: 0.293%
Break-even: 69.1 days

Slippage from Binance: live order book, 2 min ago; Pacifica: live order book, 21 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, 2 min ago	0.30 bp	5.8 bp −$6	8.7 bp −$87	25.8 bp −$2,575	116.6 bp −$58.3K
Sell Pacifica live order book, 21 min ago	0.73 bp	12.4 bp −$12	doesn't fit	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	−0.1273%	8h	164.43	+0.172%	$27.6M	$114.5M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.26	+0.069%	$1.7M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.14	−0.004%	$20.8M	$99.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.21	+0.038%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.46	+0.191%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0013%	8h	164.02	−0.080%	$1.2M	$2.0M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.05	−0.059%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.15	+0.002%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.164%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.31	+0.099%	$26K	$112K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.27	+0.075%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.41	+0.160%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.47	+0.197%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.99	−0.096%	$878K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.49	+0.209%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0081%	1h	164.03	−0.071%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDTlong	+0.0088%	8h	164.15	long leg	$88.0M	$619.3M	50x
Pacifica MSTRshort	+0.0100%	1h	164.11	−0.022%	$100K	$84K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	164.25	+0.063%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.14	−0.004%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.47	+0.197%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.47	+0.196%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0139%	8h	163.92	−0.138%	$77K	$763K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0142%	8h	164.44	+0.180%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.035%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0207%	8h	164.42	+0.166%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0213%	1h	164.36	+0.132%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.48	+0.202%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	163.85	−0.178%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.26	+0.069%	$17.1M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0461%	4h	164.05	−0.057%	$49K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0784%	1h	164.51	+0.221%	$280K	$438K	10x	as long as short