Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.067%

Price spread now: Ondo Perps against BloFin−0.091%95s7-day average −0.131% · you buy dearer than you sell

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

Long on BloFin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 4 days (all we have)+0.454%+$45 · spread now −0.091%, 7d avg −0.131%

Together, before fees+0.240%+ Points / potential airdropOndo Perps: Active · farm board+$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.041% dearer against BloFin than usual: you sell high and buy low (spread −0.091% now, against its 7-day average of −0.131%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSTR-USDT	165.53	0.0228	pay 0.0228% / 8h	5h 11m	$1.0M	$2.0M	20x
Short	Ondo Perps MSTR-USD.P	165.38	0.0050	get 0.0006% / 1h	11m 27s	$882K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$37.39
Price spread: −0.091% → −0.131%: $4.07
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$50.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 1 min ago; Ondo Perps: 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, 1 min ago	0.30 bp	7.1 bp −$7	9.9 bp −$99	18.6 bp −$1,863	53.6 bp −$26.8K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget MSTRUSDT	−0.0917%	8h	165.74	+0.127%	$27.8M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.49	−0.026%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.74	+0.127%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.50	−0.018%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0001%	8h	165.74	+0.127%	$20.8M	$100.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.50	−0.018%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.43	−0.063%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.302%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.67	+0.086%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.57	+0.024%	$27K	$110K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.73	+0.121%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.57	+0.024%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.61	+0.048%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	165.38	−0.091%	$882K	$4.1M	10x
QFEX MSTR-USD	+0.0060%	1h	165.57	+0.024%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USD	+0.0080%	1h	165.52	−0.006%	$44K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.55	+0.010%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.54	+0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.39	−0.085%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.73	+0.121%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.54	+0.007%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0109%	8h	165.75	+0.131%	$88.3M	$616.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0133%	8h	165.53	+0.002%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0163%	8h	165.50	−0.016%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.012%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0216%	1h	165.44	−0.053%	$122K	$148K	3x	as long as short
BloFin MSTR-USDTlong	+0.0228%	8h	165.53	long leg	$1.0M	$2.0M	20x
RISEx MSTR/USDC	+0.0291%	1h	165.62	+0.054%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.57	+0.022%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0349%	8h	165.78	+0.151%	$17.3M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0536%	1h	165.49	−0.024%	$281K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0721%	4h	165.59	+0.038%	$51K	$5.4M	10x	as long as short