Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.041%

Price spread now: Binance against Coinbase International+0.110%7-day average +0.185% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$16 on $10k

Price spread, last 2 days (all we have)−0.363%−$36 · spread now +0.110%, 7d avg +0.185%

Together, before fees−0.518%−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.074% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.185%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	169.11	0.0048	pay 0.0006% / 1h	29m 49s	$1.5M	$1.2M	10x
Short	Binance MSTRUSDT	169.30	0	get 0.0000% / 8h	2h 29m	$88.7M	$629.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.110%Rate

Funding earned: −$10.08
Price spread: +0.110% → +0.185%: −$7.44
Slippage, 4 orders: −$15.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$52.72
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Binance: live order book, 14 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 Coinbase International live order book, 4 min ago	5.32 bp	11.3 bp −$11	16.1 bp −$161	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.30 bp	6.7 bp −$7	11.5 bp −$115	29.0 bp −$2,905	137.7 bp −$68.8K

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	−0.0110%	1h	169.22	+0.063%	$139K	$101K	3x	as long as short
BloFin MSTR-USDT	−0.0006%	8h	169.29	+0.106%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.28	+0.101%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDTshort	0.0000%	8h	169.30	+0.110%	$88.7M	$629.2M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	169.24	+0.077%	$22.0M	$107.3M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.30	+0.112%	$296K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.22	+0.065%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.30	+0.111%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	+0.194%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.29	+0.106%	$2.9M	$57K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.22	+0.065%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.13	+0.009%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.28	+0.101%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.38	+0.160%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0048%	1h	169.11	long leg	$1.5M	$1.2M	10x
tradeXYZ xyz:MSTR	+0.0050%	1h	169.20	+0.053%	$56.6M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.28	+0.101%	$410K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.21	+0.059%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.16	+0.030%	$737K	$5.0M	10x	as long as short
Bitget MSTRUSDT	+0.0070%	8h	169.28	+0.101%	$28.8M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0071%	8h	169.25	+0.085%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0090%	8h	169.31	+0.118%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.25	+0.083%	$103K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.20	+0.053%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.32	+0.124%	$4K	$981K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.33	+0.130%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.33	+0.133%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.29	+0.108%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.34	+0.136%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.006%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0459%	1h	169.37	+0.154%	$288K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0678%	4h	169.31	+0.118%	$49K	$5.4M	10x	as long as short