Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.011%

Price spread now: Polymarket Perps against GRVT+0.120%63s7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

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

costs, in and out, $10k−$360.356% of the position

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now +0.120%, 7d avg −0.050%

Together, before fees+0.059%+ Points / potential airdropGRVT: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.171% dearer against GRVT than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.050%. The two prices were read 63 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	169.28	0	get 0.0000% / 8h	2h 26m	$83K	$948K	10x
Short	Polymarket Perps MSTR-USD	169.48	0.0050	get 0.0006% / 1h	26m 34s	$412K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.120%Rate

Funding earned: $10.5
Price spread: +0.120% → −0.050%: $17.08
Slippage, 4 orders: −$18.6
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$8.02
Costs to cover: 0.356%
Break-even: 12.3 days

Slippage from GRVT: live order book, 61 min ago; Polymarket Perps: live order book, 2 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, 61 min ago	1.47 bp	10.2 bp −$10	17.2 bp −$172	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	3.25 bp	7.2 bp −$7	11.4 bp −$114	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	−0.0091%	1h	169.37	+0.055%	$139K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0027%	8h	169.45	+0.103%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.42	+0.085%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.50	+0.134%	$88.8M	$629.3M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.57	+0.174%	$22.1M	$107.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.50	+0.131%	$296K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.46	+0.109%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.30	+0.013%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perplong	0.0000%	8h	169.28	long leg	$83K	$948K	10x
Phemex MSTRUSDT	0.0000%	4h	169.41	+0.079%	$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	169.46	+0.109%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.30	+0.016%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.46	+0.109%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.68	+0.239%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.098%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.35	+0.044%	$56.6M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	169.48	+0.120%	$412K	$2.6M	10x
SoDEX MSTR-USD	+0.0050%	1h	169.36	+0.050%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.27	−0.004%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0069%	8h	169.51	+0.138%	$28.9M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	169.45	+0.103%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0091%	8h	169.49	+0.126%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.47	+0.117%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.32	+0.026%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.27	−0.004%	$4K	$979K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.36	+0.050%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.35	+0.046%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.27	−0.002%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0358%	4h	169.27	−0.004%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.52	+0.144%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.104%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0755%	1h	169.39	+0.067%	$288K	$438K	10x	as long as short