Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0696%/8h= −76.2% APRpaid last 24h −0.146%

Price spread now: Variational Omni against Deribit−0.006%7-day average −0.024% · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.478%−$48 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.006%, 7d avg −0.024%

Together, before fees−0.418%+ Points / potential airdropVariational Omni: Active · farm board−$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	169.30	0.0696	pay 0.0087% / 1h	30m 34s	$288K	$438K	10x
Short	Variational Omni MSTR	169.29	0	get 0.0000% / 8h	2h 30m	$1.2M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.006%Rate

Funding earned: −$146.15
Price spread: −0.006% → −0.024%: $1.76
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$151.4
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 58 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Deribit live order book, 58 min ago	6.19 bp	9.7 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.98 bp	doesn't fit	18.5 bp −$185	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
Nado MSTR-PERP	−0.0113%	1h	169.10	−0.116%	$139K	$101K	3x	as long as short
BloFin MSTR-USDT	−0.0006%	8h	169.29	−0.006%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.27	−0.019%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.32	+0.012%	$88.7M	$629.3M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.29	−0.006%	$22.1M	$107.3M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.30	0.000%	$296K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.25	−0.030%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTRshort	0.0000%	8h	169.29	−0.006%	$1.2M	$2.4M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	+0.082%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.33	+0.018%	$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	169.26	−0.024%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.12	−0.105%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.28	−0.012%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.34	+0.024%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.112%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.23	−0.041%	$56.6M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.25	−0.030%	$410K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.26	−0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.16	−0.083%	$737K	$5.0M	10x	as long as short
Bitget MSTRUSDT	+0.0070%	8h	169.32	+0.012%	$28.9M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0071%	8h	169.25	−0.027%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0090%	8h	169.29	−0.006%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.25	−0.030%	$103K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.20	−0.059%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.32	+0.012%	$4K	$981K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.29	−0.006%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.28	−0.011%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.29	−0.005%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.34	+0.024%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.118%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0678%	4h	169.31	+0.006%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.0696%	1h	169.30	long leg	$288K	$438K	10x