Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0124%/8h= +13.5% APRpaid last 24h +0.007%

Price spread now: Binance against Injective−2.705%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 2.705% cheaper against Injective than usual: you would sell low and buy high (spread −2.705% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$270 on $10k: about 2 months of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.041% in total) that is about 16 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSTR/USDC PERP	169.34	0.0033	pay 0.0004% / 1h	59m 06s	$8K	$26K	30x
Short	Binance MSTRUSDT	164.76	0.0157	get 0.0157% / 8h	3h 59m	$87.0M	$615.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −2.705%Rate

Funding earned: $25.96
Price spread: −2.705% → 0.000%: −$270.46
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$254.52
Costs to cover: 0.100%
Break-even: 75.6 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 15 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 15 min ago	0.30 bp	6.0 bp −$6	9.2 bp −$92	29.7 bp −$2,973	75.5 bp −$37.7K

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	−0.0919%	8h	164.83	−2.663%	$27.9M	$115.2M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.60	−2.797%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.85	−2.651%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.76	−2.705%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0024%	8h	164.76	−2.705%	$20.7M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.72	−2.728%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.62	−2.787%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERPlong	+0.0033%	1h	169.34	long leg	$8K	$26K	30x
Arcus MSTR-USD	+0.0040%	1h	164.67	−2.758%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.65	−2.770%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.68	−2.752%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.71	−2.734%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.51	−2.852%	$859K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.73	−2.722%	$1.4M	$7.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0096%	1h	164.68	−2.752%	$54.9M	$37.0M	10x	as long as short
Variational Omni MSTR	+0.0097%	8h	164.61	−2.795%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.71	−2.734%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.67	−2.758%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.39	−2.923%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.75	−2.711%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.74	−2.718%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0144%	8h	164.72	−2.726%	$66	—	5x	as long as short
Binance MSTRUSDTshort	+0.0157%	8h	164.76	−2.705%	$87.0M	$615.7M	50x
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−3.083%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.57	−2.817%	$82K	$792K	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.55	−2.831%	$56K	$226K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.77	−2.700%	$267K	$445K	10x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.79	−2.687%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0317%	1h	164.57	−2.820%	$122K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0349%	8h	164.79	−2.687%	$17.0M	$40.8M	50x	as long as short
edgeX MSTRUSDC	+0.0952%	4h	164.58	−2.811%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1025%	1h	164.87	−2.640%	$280K	$438K	10x	as long as short