Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.033%

Price spread now: OKX against Extended+0.137%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days−0.074%−$7 · spread now +0.137%, 7d avg +0.093%

Together, before fees−0.107%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.044% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSTR_24_5-USD	164.12	0.0032	pay 0.0004% / 1h	50m 33s	$593K	$1.9M	10x
Short	OKX MSTR-USDT-SWAP	164.34	0.0028	get 0.0028% / 8h	3h 50m	$20.7M	$99.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now +0.137%Rate

Funding earned: −$0.84
Price spread: +0.137% → +0.093%: $4.38
Slippage, 4 orders: −$11.11
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.56
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; OKX: live order book, 3 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 Extended live order book, 3 min ago	3.34 bp	6.8 bp −$7	22.7 bp −$227	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.30 bp	6.4 bp −$6	12.1 bp −$121	62.6 bp −$6,264	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	−0.0884%	8h	164.46	+0.210%	$27.9M	$115.3M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.29	+0.104%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.33	+0.131%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.50	+0.235%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAPshort	+0.0028%	8h	164.34	+0.137%	$20.7M	$99.5M	50x
Extended MSTR_24_5-USDlong	+0.0032%	1h	164.12	long leg	$593K	$1.9M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.184%	$8K	$26K	30x	as long as short
Lighter MSTR	+0.0040%	1h	164.24	+0.076%	$3.5M	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.61	+0.302%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.20	+0.052%	—	$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	164.26	+0.088%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.42	+0.186%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.30	+0.113%	$858K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.33	+0.131%	$1.4M	$7.3M	10x	as long as short
Variational Omni MSTR	+0.0100%	8h	164.47	+0.214%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.29	+0.104%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.24	+0.076%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.55	+0.265%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.43	+0.192%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.45	+0.204%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0139%	8h	164.25	+0.085%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0159%	8h	164.32	+0.125%	$86.7M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	+0.003%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0171%	8h	164.74	+0.381%	$82K	$792K	10x	as long as short
edgeX MSTRUSDC	+0.0179%	4h	164.56	+0.271%	$49K	$5.3M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0227%	1h	164.21	+0.058%	$54.7M	$37.0M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.31	+0.117%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0243%	1h	164.15	+0.022%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.44	+0.198%	$1.0M	$2.0M	20x	as long as short
Phoenix MSTR	+0.0340%	1h	164.59	+0.288%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0342%	8h	164.35	+0.143%	$16.8M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0845%	1h	164.51	+0.241%	$280K	$438K	10x	as long as short