Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0341%/8h= −37.3% APRpaid last 24h −0.051%

Price spread now: Vest against Binance+0.226%7-day average −0.450% · you sell dearer than you buy

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

Long on Binance Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.066%−$7 on $10k

Price spread, last 7 days−0.206%−$21 · spread now +0.226%, 7d avg −0.450%

Together, before fees−0.272%+ Points / potential airdropVest: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.676% dearer against Binance than usual: you sell high and buy low (spread +0.226% now, against its 7-day average of −0.450%): +$68 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 6.6 days. At the pace of the last 4 days (−0.066% in total) that is about 37 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.066% in total (about -6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	166.76	0.0387	pay 0.0387% / 8h	7h 03m	$87.2M	$590.9M	50x
Short	Vest MSTR-USD-PERP	167.14	0.0046	get 0.0006% / 1h	3m 04s	—	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now +0.226%Rate

Funding earned: −$71.58
Price spread: +0.226% → −0.450%: $67.65
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$15.93
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Binance: live order book, 11 min ago; Vest: no order-book sample. 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 Binance live order book, 11 min ago	0.30 bp	6.8 bp −$7	10.8 bp −$108	26.5 bp −$2,654	114.9 bp −$57.5K
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate MSTR_USDT	0.0000%	8h	166.94	+0.107%	$4.9M	$19.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.89	+0.077%	$31.3M	$113.7M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.91	+0.089%	$2.8M	$83K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.81	+0.029%	$544K	$1.8M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−2.490%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.00	+0.143%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	167.14	+0.226%	—	$1.7M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	166.78	+0.011%	$386K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.92	+0.095%	$927K	$3.5M	10x	as long as short
QFEX MSTR-USD	+0.0061%	1h	166.90	+0.083%	$1.3M	$6.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	166.88	+0.074%	$102K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.80	+0.023%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.85	+0.053%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.97	+0.125%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.98	+0.129%	$139	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	166.72	−0.025%	$1.4M	$644K	10x	as long as short
Lighter MSTR	+0.0168%	1h	166.87	+0.065%	$3.5M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0182%	1h	166.79	+0.019%	$128K	$143K	3x	as long as short
Aster MSTRUSDT	+0.0192%	8h	167.02	+0.155%	$1.8M	$8.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0194%	8h	166.94	+0.107%	$67	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0278%	8h	166.88	+0.071%	$21.6M	$92.9M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	167.24	+0.285%	$1.2M	$1.8M	—	as long as short
tradeXYZ xyz:MSTR	+0.0368%	1h	166.81	+0.029%	$55.1M	$36.2M	10x	as long as short
Binance MSTRUSDTlong	+0.0387%	8h	166.76	long leg	$87.2M	$590.9M	50x
RISEx MSTR/USDC	+0.0400%	1h	166.91	+0.089%	$272K	$387K	10x	as long as short
Phoenix MSTR	+0.0460%	1h	167.10	+0.201%	$57K	$223K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0469%	1h	166.92	+0.095%	$284K	$289K	10x	as long as short
BloFin MSTR-USDT	+0.0507%	8h	166.93	+0.101%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0559%	8h	166.95	+0.113%	$17.3M	$40.2M	50x	as long as short
edgeX MSTRUSDC	+0.0670%	4h	167.12	+0.216%	$49K	$5.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0727%	8h	167.11	+0.208%	$82K	$844K	10x	as long as short
SoDEX MSTR-USD	+0.1296%	1h	166.88	+0.071%	$44K	$3K	10x	as long as short