Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h +0.084%

Price spread now: Arcus against GRVT−0.061%54s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.405% of the position

Long on GRVT Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.074%+$7 on $10k

Price spread, last 4 days (all we have)−0.425%−$42 · spread now −0.061%, 7d avg −0.027%

Together, before fees−0.350%+ Points / potential airdropGRVT: Active · farm board−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Arcus is 0.034% cheaper against GRVT than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.027%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.074%, so the current rate has only just turned against you. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSTR_USDT_Perp	164.40	0.0157	pay 0.0157% / 8h	5h 39m	$77K	$763K	10x
Short	Arcus MSTR-USD	164.30	0.0040	get 0.0005% / 1h	39m 46s	$26K	$112K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against GRVT. 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 GRVTbpFee ArcusbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$24.51
Price spread: −0.061% → −0.027%: −$3.42
Slippage, 4 orders: −$26.97
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$68.4
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from GRVT: live order book, 23 min ago; Arcus: live order book, 23 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 GRVT live order book, 23 min ago	1.52 bp	7.1 bp −$7	13.4 bp −$134	doesn't fit	doesn't fit
Sell Arcus live order book, 23 min ago	6.68 bp	12.6 bp −$13	37.7 bp −$377	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	−0.1278%	8h	164.43	+0.018%	$27.6M	$114.5M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.28	−0.070%	$1.8M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.34	−0.037%	$20.8M	$99.4M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.34	−0.037%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.27	−0.079%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0021%	8h	164.09	−0.187%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.19	−0.128%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.22	−0.110%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.004%	$8K	$26K	30x	as long as short
Arcus MSTR-USDshort	+0.0040%	1h	164.30	−0.061%	$26K	$112K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.11	−0.177%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.25	−0.092%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.28	−0.073%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.99	−0.250%	$880K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.30	−0.061%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0082%	1h	164.20	−0.122%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0089%	8h	164.34	−0.037%	$88.1M	$619.3M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.28	−0.072%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.24	−0.098%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.32	−0.049%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.30	−0.061%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.30	−0.063%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.29	−0.067%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perplong	+0.0157%	8h	164.40	long leg	$77K	$763K	10x
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.189%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0208%	8h	164.17	−0.140%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0215%	1h	164.15	−0.155%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.34	−0.038%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.35	−0.033%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0343%	8h	164.43	+0.018%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0725%	1h	164.33	−0.043%	$279K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0772%	4h	164.34	−0.034%	$49K	$5.4M	10x	as long as short