Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0449%/8h= +49.2% APRpaid last 24h +0.189%

Price spread now: Deribit against GRVT+0.108%7-day average +0.023% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$430.427% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.616%+$62 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.108%, 7d avg +0.023%

Together, before fees+0.499%+ Points / potential airdropGRVT: Active · farm board+$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Deribit is 0.086% dearer against GRVT than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSTR_USDT_Perp	162.79	0.0222	pay 0.0222% / 8h	2h 17m	$79K	$857K	10x
Short	Deribit MSTR_USDC-PERPETUAL	162.97	0.0671	get 0.0084% / 1h	17m 06s	$277K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.108%Rate

Funding earned: $94.34
Price spread: +0.108% → +0.023%: $8.58
Slippage, 4 orders: −$26.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $60.2
Costs to cover: 0.427%
Break-even: 2.5 days

Slippage from GRVT: live order book, 31 min ago; Deribit: live order book, 32 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, 31 min ago	0.31 bp	12.1 bp −$12	16.8 bp −$168	doesn't fit	doesn't fit
Sell Deribit live order book, 32 min ago	6.10 bp	11.4 bp −$11	12.7 bp −$127	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	−0.1303%	8h	163.00	+0.127%	$27.1M	$118.3M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.95	+0.096%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.01	+0.133%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0003%	8h	162.82	+0.016%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0021%	1h	162.55	−0.149%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.69	−0.067%	$503K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.021%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.60	−0.119%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.86	+0.041%	$376K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.56	−0.143%	$866K	$3.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	162.84	+0.029%	$1.3M	$7.3M	10x	as long as short
SoDEX MSTR-USD	+0.0055%	1h	162.87	+0.047%	$43K	$3K	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.97	+0.106%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.83	+0.024%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.85	+0.035%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.70	−0.057%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.91	+0.072%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.94	+0.092%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0105%	8h	162.83	+0.022%	$20.6M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	−0.348%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0148%	8h	162.79	−0.001%	$65	—	5x	as long as short
Lighter MSTR	+0.0152%	1h	162.92	+0.078%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.782%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0206%	8h	162.88	+0.053%	$83.5M	$627.8M	50x	as long as short
GRVT MSTR_USDT_Perplong	+0.0222%	8h	162.79	long leg	$79K	$857K	10x
tradeXYZ xyz:MSTR	+0.0301%	1h	162.78	−0.008%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.95	+0.096%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0349%	1h	162.71	−0.050%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0362%	1h	162.72	−0.044%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.86	+0.041%	$16.7M	$41.9M	50x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0671%	1h	162.97	+0.108%	$277K	$438K	10x
edgeX MSTRUSDC	+0.0737%	4h	162.33	−0.284%	$45K	$5.4M	10x	as long as short