Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0124%/8h= −13.5% APRpaid last 24h +0.027%

Price spread now: Injective against GRVT+3.004%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 3.004% dearer against GRVT than usual: you sell high and buy low (spread +3.004% now, against zero (this spread has no 7-day history yet)): +$300 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3 months.

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 37m	$77K	$763K	10x
Short	Injective MSTR/USDC PERP	169.34	0.0033	get 0.0004% / 1h	37m 53s	$8K	$26K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +3.004%Rate

Funding earned: −$25.97
Price spread: +3.004% → 0.000%: $300.45
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $265.46
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 25 min ago; Injective: no order-book sample. 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 GRVT live order book, 25 min ago	1.52 bp	7.1 bp −$7	13.4 bp −$134	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1280%	8h	164.33	−0.043%	$27.6M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.13	−0.164%	$1.7M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.23	−0.104%	$20.8M	$99.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.23	−0.104%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.20	−0.122%	$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	164.10	−0.183%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.08	−0.192%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERPshort	+0.0033%	1h	169.34	+3.004%	$8K	$26K	30x
Arcus MSTR-USD	+0.0040%	1h	164.31	−0.055%	$26K	$112K	10x	as long as short

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	164.09	−0.189%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.14	−0.159%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.14	−0.159%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.11	−0.177%	$880K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.26	−0.086%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0079%	1h	164.10	−0.183%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0090%	8h	164.24	−0.096%	$88.1M	$619.0M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.25	−0.089%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.12	−0.171%	$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	164.18	−0.134%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.18	−0.134%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0138%	8h	164.21	−0.116%	$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
Nado MSTR-PERP	+0.0209%	1h	164.20	−0.125%	$122K	$149K	3x	as long as short
BloFin MSTR-USDT	+0.0210%	8h	164.27	−0.079%	$1.0M	$1.9M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.28	−0.073%	$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	+0.0342%	8h	164.29	−0.067%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0664%	1h	164.20	−0.122%	$279K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0857%	4h	164.20	−0.125%	$49K	$5.4M	10x	as long as short