Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0197%/8h= −21.6% APRpaid last 24h −0.013%

Price spread now: Vest against GRVT−0.307%7-day average −1.064% · you buy dearer than you sell

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

Long on GRVT Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.408%+$41 · spread now −0.307%, 7d avg −1.064%

Together, before fees+0.386%+ Points / potential airdropGRVT: Active · Vest: Active · farm board+$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.757% dearer against GRVT than usual: you sell high and buy low (spread −0.307% now, against its 7-day average of −1.064%): +$76 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 3 days (−0.022% in total) that is about 4 months.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.022% in total (about -2.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSTR_USDT_Perp	162.88	0.0243	pay 0.0243% / 8h	1h 31m	$83K	$878K	10x
Short	Vest MSTR-USD-PERP	162.38	0.0046	get 0.0006% / 1h	31m 09s	—	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.307%Rate

Funding earned: −$41.44
Price spread: −0.307% → −1.064%: $75.71
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: $23.27
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: GRVT: live order book, 12 min ago; Vest: 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, 12 min ago	1.54 bp	9.4 bp −$9	12.5 bp −$125	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0955%	8h	163.09	+0.129%	$28.7M	$118.7M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.91	+0.018%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.84	−0.025%	$2.7M	$78K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.60	−0.169%	$508K	$2.0M	10x	as long as short
Aster MSTRUSDT	+0.0033%	8h	162.74	−0.088%	$1.8M	$8.7M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.966%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.75	−0.080%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	162.38	−0.307%	—	$1.8M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	162.66	−0.135%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.74	−0.086%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.58	−0.184%	$849K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.75	−0.080%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.67	−0.127%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.71	−0.105%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.59	−0.178%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.77	−0.068%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.77	−0.070%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0147%	8h	162.87	−0.006%	$20.7M	$100.2M	50x	as long as short
Variational Omni MSTR	+0.0149%	8h	162.56	−0.199%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.835%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0160%	8h	162.65	−0.139%	$65	—	5x	as long as short
Lighter MSTR	+0.0160%	1h	162.71	−0.105%	$3.5M	$2.0M	10x	as long as short
Binance MSTRUSDT	+0.0230%	8h	162.86	−0.012%	$83.8M	$627.5M	50x	as long as short
GRVT MSTR_USDT_Perplong	+0.0243%	8h	162.88	long leg	$83K	$878K	10x
tradeXYZ xyz:MSTR	+0.0283%	1h	162.82	−0.037%	$54.0M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.69	−0.119%	$55K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0349%	1h	162.55	−0.203%	$130K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0350%	8h	162.76	−0.074%	$1.0M	$2.1M	20x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.75	−0.077%	$262K	$436K	10x	as long as short
Bybit MSTRUSDT	+0.0382%	8h	162.81	−0.043%	$16.8M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0734%	1h	162.72	−0.098%	$277K	$437K	10x	as long as short
edgeX MSTRUSDC	+0.0743%	4h	162.73	−0.093%	$45K	$5.4M	10x	as long as short