Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h +0.004%

Price spread now: Pacifica against Bitget+0.062%7-day average −0.031% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.293%−$29 · spread now +0.062%, 7d avg −0.031%

Together, before fees−0.180%+ Points / potential airdropPacifica: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.093% dearer against Bitget than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of −0.031%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days. Mind the row above: over the last 7 days funding on this pair paid +0.114%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSTRUSDT	169.39	0.0121	pay 0.0121% / 8h	2h 56m	$28.8M	$119.4M	25x
Short	Pacifica MSTR	169.50	0.0100	get 0.0013% / 1h	56m 23s	$104K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.062%Rate

Funding earned: −$4.41
Price spread: +0.062% → −0.031%: $9.29
Slippage, 4 orders: −$15.98
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$31.1
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Pacifica: live order book, 31 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, 3 min ago	0.29 bp	9.3 bp −$9	13.6 bp −$136	25.9 bp −$2,592	doesn't fit
Sell Pacifica live order book, 31 min ago	1.44 bp	13.6 bp −$14	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
Nado MSTR-PERP	−0.0112%	1h	169.46	+0.042%	$140K	$107K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.56	+0.099%	$299K	$467K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.41	+0.012%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	170.02	+0.370%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.36	−0.018%	$2.9M	$55K	10x	as long as short
Aster MSTRUSDT	+0.0001%	8h	169.57	+0.105%	$1.3M	$6.2M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0010%	8h	169.87	+0.284%	$83K	$969K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.35	−0.024%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.31	−0.047%	$588K	$1.9M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0036%	8h	169.39	0.000%	$22.2M	$108.3M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0039%	1h	169.49	+0.059%	$1.5M	$10.2M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0045%	1h	169.45	+0.035%	$288K	$439K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.34	−0.030%	$1.5M	$1.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0049%	1h	169.76	+0.218%	—	$2.1M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.34	−0.030%	$57.0M	$38.6M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.42	+0.018%	$413K	$2.5M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.40	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.41	+0.012%	$780K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0054%	8h	169.41	+0.012%	$89.1M	$629.5M	50x	as long as short
BloFin MSTR-USDT	+0.0062%	8h	169.52	+0.077%	$1.1M	$1.7M	20x	as long as short
Paradex MSTR-USD-PERP	+0.0076%	8h	169.47	+0.046%	$68	—	5x	as long as short
Phoenix MSTR	+0.0090%	1h	169.87	+0.280%	$57K	$396K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	169.50	+0.062%	$104K	$154K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.48	+0.053%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.84	+0.266%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.48	+0.053%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.49	+0.060%	$141	—	10x	as long as short
Bitget MSTRUSDTlong	+0.0121%	8h	169.39	long leg	$28.8M	$119.4M	25x
Bybit MSTRUSDT	+0.0153%	8h	169.41	+0.012%	$15.3M	$41.7M	50x	as long as short
edgeX MSTRUSDC	+0.0431%	4h	169.92	+0.315%	$50K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.54	+0.089%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.301%	$13K	$22K	30x	as long as short