Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0699%/8h= +76.5% APRpaid last 24h +0.065%

Price spread now: Arcus against Bitget+0.041%7-day average −0.006% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Bitget Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.041%, 7d avg −0.006%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Arcus is 0.047% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.006%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.077% in total (about 8.3% 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	Bitget MSTRUSDT	169.21	0.0039	pay 0.0039% / 8h	58m 10s	$28.8M	$120.6M	25x
Short	Arcus MSTR-USD	169.28	0.0738	get 0.0092% / 1h	58m 10s	$27K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bitget. 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 BitgetbpFee ArcusbpOrdersPrice spread, now +0.041%Rate

Funding earned: $146.7
Price spread: +0.041% → −0.006%: $4.7
Slippage, 4 orders: −$24.2
Fee Bitget: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $110.7
Costs to cover: 0.407%
Break-even: 1.7 days

Slippage from Bitget: live order book, 1 min ago; Arcus: live order book, 20 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 Bitget live order book, 1 min ago	0.30 bp	9.2 bp −$9	14.7 bp −$147	26.5 bp −$2,648	doesn't fit
Sell Arcus live order book, 20 min ago	7.38 bp	11.0 bp −$11	35.3 bp −$353	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
Nado MSTR-PERP	−0.0054%	1h	169.13	−0.048%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0012%	8h	169.15	−0.035%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.15	−0.035%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.25	+0.023%	$89.4M	$628.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.22	+0.006%	$22.0M	$106.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.21	0.000%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.02	−0.111%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.12	−0.054%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.20	−0.006%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.22	+0.006%	$276K	$442K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.24	+0.018%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.05	−0.095%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDTlong	+0.0039%	8h	169.21	long leg	$28.8M	$120.6M	25x
Vest MSTR-USD-PERP	+0.0046%	1h	169.31	+0.059%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.25	+0.024%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.19	−0.012%	$393K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.22	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.96	−0.148%	$780K	$5.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0055%	1h	169.17	−0.024%	$57.1M	$37.5M	10x	as long as short
Bybit MSTRUSDT	+0.0074%	8h	169.23	+0.012%	$15.2M	$40.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0095%	8h	169.19	−0.010%	$68	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.071%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.17	−0.024%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.07	−0.083%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.91	−0.177%	$4K	$395K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.21	0.000%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.32	+0.065%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.21	−0.001%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	−0.121%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0424%	4h	169.08	−0.075%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USDshort	+0.0738%	1h	169.28	+0.041%	$27K	$129K	10x
Deribit MSTR_USDC-PERPETUAL	+0.0755%	1h	169.28	+0.041%	$288K	$439K	10x	as long as short