Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0064%/8h= +7.1% APRpaid last 24h −0.077%

Price spread now: Coinbase International against BloFin−0.171%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 3 days (all we have)+0.213%+$21 · spread now −0.171%, 7d avg −0.086%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.085% cheaper against BloFin than usual: you would sell low and buy high (spread −0.171% now, against its 7-day average of −0.086%). If the spread goes back, that is −$8 on $10k: about 4.4 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.080%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSTR-USDT	169.61	0.0032	pay 0.0032% / 8h	47m 06s	$1.1M	$1.8M	20x
Short	Coinbase International MSTR-PERP-INTX	169.32	0.0096	get 0.0012% / 1h	47m 06s	$1.5M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.171%Rate

Funding earned: $13.52
Price spread: −0.171% → −0.086%: −$8.46
Slippage, 4 orders: −$20.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$37.58
Costs to cover: 0.426%
Break-even: 26.5 days

Slippage from BloFin: live order book, 6 min ago; Coinbase International: live order book, 1 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 BloFin live order book, 6 min ago	1.48 bp	7.5 bp −$8	10.4 bp −$104	18.1 bp −$1,808	doesn't fit
Sell Coinbase International live order book, 1 min ago	8.56 bp	13.6 bp −$14	18.4 bp −$184	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
Aster MSTRUSDT	0.0000%	8h	169.47	−0.082%	$1.3M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.52	−0.053%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.49	−0.069%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.54	−0.041%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.49	−0.071%	$276K	$442K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0004%	8h	169.42	−0.110%	$83K	$875K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0005%	8h	169.60	−0.006%	$22.1M	$106.8M	50x	as long as short
Binance MSTRUSDT	+0.0027%	8h	169.52	−0.054%	$89.4M	$628.9M	50x	as long as short
BloFin MSTR-USDTlong	+0.0032%	8h	169.61	long leg	$1.1M	$1.8M	20x
Extended MSTR_24_5-USD	+0.0032%	1h	169.25	−0.215%	$583K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MSTR-PERP	+0.0040%	1h	169.38	−0.135%	$140K	$97K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.61	0.000%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.51	−0.059%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.41	−0.118%	$393K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.49	−0.071%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.24	−0.218%	$782K	$5.2M	10x	as long as short
Bitget MSTRUSDT	+0.0055%	8h	169.51	−0.059%	$28.7M	$120.6M	25x	as long as short
Bybit MSTRUSDT	+0.0095%	8h	169.55	−0.035%	$15.2M	$40.5M	50x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0096%	1h	169.32	−0.171%	$1.5M	$1.2M	10x
Pacifica MSTR	+0.0100%	1h	169.50	−0.067%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.35	−0.153%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.21	−0.236%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	−0.071%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.312%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.49	−0.072%	$141	—	10x	as long as short
Lighter MSTR	+0.0120%	1h	169.50	−0.065%	$3.6M	$2.4M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0123%	8h	169.45	−0.097%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0167%	1h	169.47	−0.083%	$57.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	−0.062%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0491%	4h	169.40	−0.125%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.54	−0.041%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0754%	1h	169.54	−0.041%	$288K	$438K	10x	as long as short