Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h −0.049%

Price spread now: Injective against BloFin−0.188%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.188% cheaper against BloFin than usual: you would sell low and buy high (spread −0.188% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 3.5 days of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.251%, 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	169.81	0.0057	pay 0.0057% / 8h	7h 56m	$1.1M	$1.9M	20x
Short	Injective MSTR/USDC PERP	169.49	0.0235	get 0.0029% / 1h	56m 40s	$13K	$21K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.188%Rate

Funding earned: $37.36
Price spread: −0.188% → 0.000%: −$18.84
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $6.5
Costs to cover: 0.120%
Break-even: 5.8 days

Slippage unknown: BloFin: live order book, 11 min ago; Injective: 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 BloFin live order book, 11 min ago	0.59 bp	6.6 bp −$7	8.9 bp −$89	19.7 bp −$1,974	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Nado MSTR-PERP	−0.0116%	1h	169.83	+0.012%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.54	−0.160%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.70	−0.065%	$15.2M	$39.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.59	−0.130%	$22.0M	$104.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.57	−0.141%	$4.7M	$18.8M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.44	−0.217%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.66	−0.088%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.56	−0.147%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	−0.197%	$581K	$1.7M	10x	as long as short
Bitget MSTRUSDT	+0.0035%	8h	169.57	−0.141%	$28.7M	$116.2M	25x	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	+0.0035%	1h	169.56	−0.147%	$1.5M	$10.2M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.70	−0.065%	$27K	$122K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	170.06	+0.147%	—	$2.1M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.55	−0.152%	$77K	$871K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.65	−0.094%	$400K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	−0.047%	$765K	$5.1M	10x	as long as short
BloFin MSTR-USDTlong	+0.0057%	8h	169.81	long leg	$1.1M	$1.9M	20x
Binance MSTRUSDT	+0.0073%	8h	169.64	−0.098%	$89.6M	$625.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.624%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0095%	8h	169.58	−0.134%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.55	−0.155%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.56	−0.147%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.29	−0.306%	$4K	$223K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.80	−0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.137%	$141	—	10x	as long as short
SoDEX MSTR-USD	+0.0197%	1h	169.77	−0.024%	$45K	$3K	10x	as long as short
Injective MSTR/USDC PERPshort	+0.0235%	1h	169.49	−0.188%	$13K	$21K	30x
Phoenix MSTR	+0.0260%	1h	169.47	−0.198%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.59	−0.133%	$276K	$440K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0356%	1h	169.56	−0.147%	$57.2M	$37.0M	10x	as long as short
edgeX MSTRUSDC	+0.0365%	4h	169.54	−0.159%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0457%	1h	169.79	−0.012%	$289K	$438K	10x	as long as short