Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.005%

Price spread now: GRVT against Coinbase International+0.399%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs+$2as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.219%−$22 on $10k

Price spread, last 4 days (all we have)−0.284%−$28 · spread now +0.399%, 7d avg +0.037%

Together, before fees−0.502%+ Points / potential airdropGRVT: Active · farm board−$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and GRVT is 0.362% dearer against Coinbase International than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.219%, 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	Coinbase International MSTR-PERP-INTX	164.12	0.0168	pay 0.0021% / 1h	56m 53s	$1.4M	$1.1M	10x
Short	GRVT MSTR_USDT_Perp	164.77	0.0179	get 0.0179% / 8h	3h 56m	$82K	$792K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.399%Rate

Funding earned: $2.31
Price spread: +0.399% → +0.037%: $36.19
Slippage, 4 orders: −$15.23
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $4.27
Costs to cover: 0.342%
Break-even: from the start

Slippage from Coinbase International: live order book, 2 min ago; GRVT: live order book, 61 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, 2 min ago	4.25 bp	10.3 bp −$10	16.7 bp −$167	doesn't fit	doesn't fit
Sell GRVT live order book, 61 min ago	0.91 bp	8.7 bp −$9	14.4 bp −$144	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	−0.0906%	8h	164.76	+0.390%	$27.9M	$115.2M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.61	+0.300%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.70	+0.353%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.72	+0.366%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0024%	8h	164.70	+0.353%	$20.7M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.59	+0.286%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.54	+0.259%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.181%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.74	+0.378%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.66	+0.329%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.64	+0.317%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.66	+0.329%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.51	+0.238%	$859K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.71	+0.359%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0097%	8h	164.61	+0.296%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.68	+0.343%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.62	+0.305%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.62	+0.305%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.67	+0.335%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.71	+0.358%	$137	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0124%	1h	164.59	+0.286%	$54.8M	$37.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0140%	8h	164.70	+0.355%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0157%	8h	164.67	+0.335%	$87.0M	$615.6M	50x	as long as short
edgeX MSTRUSDC	+0.0159%	4h	164.73	+0.374%	$49K	$5.3M	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	164.12	long leg	$1.4M	$1.1M	10x
GRVT MSTR_USDT_Perpshort	+0.0179%	8h	164.77	+0.399%	$82K	$792K	10x
Phoenix MSTR	+0.0213%	1h	164.76	+0.388%	$56K	$226K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.74	+0.378%	$267K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0231%	1h	164.60	+0.293%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.69	+0.347%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0345%	8h	164.71	+0.359%	$17.0M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0661%	1h	164.72	+0.366%	$280K	$438K	10x	as long as short