Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0248%/8h= −27.2% APRpaid last 24h −0.052%

Price spread now: Pacifica against BloFin+0.018%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.173%−$17 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.018%, 7d avg −0.023%

Together, before fees−0.183%+ Points / potential airdropPacifica: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.041% dearer against BloFin than usual: you sell high and buy low (spread +0.018% now, against its 7-day average of −0.023%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.173% in total) that is about 40 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.173% in total (about -9.0% 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	BloFin MSTR-USDT	162.56	0.0348	pay 0.0348% / 8h	1h 35m	$1.0M	$2.1M	20x
Short	Pacifica MSTR	162.59	0.0100	get 0.0013% / 1h	35m 13s	$100K	$83K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.018%Rate

Funding earned: −$52.15
Price spread: +0.018% → −0.023%: $4.07
Slippage, 4 orders: −$13.02
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$81.09
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Pacifica: live order book, 72 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, 3 min ago	0.62 bp	6.9 bp −$7	7.4 bp −$74	18.4 bp −$1,839	doesn't fit
Sell Pacifica live order book, 72 min ago	0.67 bp	10.6 bp −$11	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
Bitget MSTRUSDT	−0.0942%	8h	162.81	+0.154%	$28.6M	$118.9M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.65	+0.055%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.08	+0.320%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0029%	8h	162.53	−0.020%	$1.7M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.38	−0.108%	$505K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.171%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.73	+0.105%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.18	−0.234%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.49	−0.043%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.55	−0.006%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.45	−0.068%	$852K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.54	−0.012%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	162.59	+0.018%	$100K	$83K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	162.49	−0.043%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.41	−0.092%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.53	−0.018%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.53	−0.020%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0142%	8h	162.60	+0.025%	$20.7M	$100.0M	50x	as long as short
Variational Omni MSTR	+0.0149%	8h	162.56	−0.002%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0152%	1h	162.52	−0.025%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.640%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0158%	8h	162.55	−0.007%	$65	—	5x	as long as short
Binance MSTRUSDT	+0.0228%	8h	162.54	−0.015%	$83.6M	$627.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0238%	8h	162.63	+0.040%	$83K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0275%	1h	162.57	+0.006%	$53.9M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.62	+0.034%	$55K	$223K	10x	as long as short
BloFin MSTR-USDTlong	+0.0348%	8h	162.56	long leg	$1.0M	$2.1M	20x
Nado MSTR-PERP	+0.0349%	1h	162.44	−0.074%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.56	0.000%	$261K	$436K	10x	as long as short
Bybit MSTRUSDT	+0.0383%	8h	162.57	+0.006%	$16.8M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0711%	4h	162.63	+0.042%	$45K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0920%	1h	162.55	−0.006%	$276K	$437K	10x	as long as short