Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.077%

Price spread now: BloFin against Coinbase International+0.101%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

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

costs, in and out, $10k−$310.307% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 3 days (all we have)−0.146%−$15 · spread now +0.101%, 7d avg +0.087%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.087%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.079%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	168.66	0.0056	pay 0.0007% / 1h	29m 15s	$1.5M	$1.2M	10x
Short	BloFin MSTR-USDT	168.83	−0.0002	pay 0.0002% / 8h	1h 29m	$1.1M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$12.21
Price spread: +0.101% → +0.087%: $1.37
Slippage, 4 orders: −$8.67
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$41.51
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; BloFin: live order book, 4 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	3.55 bp	9.3 bp −$9	13.2 bp −$132	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.30 bp	6.6 bp −$7	10.3 bp −$103	21.5 bp −$2,152	55.2 bp −$27.6K

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	−0.0117%	1h	168.62	−0.026%	$139K	$97K	3x	as long as short
BloFin MSTR-USDTshort	−0.0002%	8h	168.83	+0.101%	$1.1M	$1.8M	20x
Aster MSTRUSDT	0.0000%	8h	168.74	+0.047%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.80	+0.080%	$88.2M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.81	+0.089%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.77	+0.065%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.77	+0.065%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.91	+0.148%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.72	+0.035%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.85	+0.113%	$2.9M	$61K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.83	+0.101%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.72	+0.036%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.65	−0.005%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.80	+0.083%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.75	+0.053%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.72	+0.036%	$396K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.72	+0.036%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.64	−0.012%	$741K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0052%	8h	168.77	+0.065%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0056%	1h	168.66	long leg	$1.5M	$1.2M	10x
tradeXYZ xyz:MSTR	+0.0060%	1h	168.72	+0.036%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0069%	8h	168.65	−0.006%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.74	+0.046%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.70	+0.024%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	+0.219%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.75	+0.053%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.73	+0.040%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	+0.209%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0278%	4h	169.05	+0.230%	$47K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.374%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.85	+0.113%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0639%	1h	168.84	+0.107%	$287K	$439K	10x	as long as short