Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.003%

Price spread now: Aster against Nado+0.085%7-day average −0.004% · 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−$50as in the Price arb table

costs, in and out, $10k−$590.587% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.403%−$40 · spread now +0.085%, 7d avg −0.004%

Together, before fees−0.339%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 0.089% dearer against Nado than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSTR-PERP	169.10	−0.0113	get 0.0014% / 1h	31m 01s	$139K	$101K	3x
Short	Aster MSTRUSDT	169.25	0	get 0.0000% / 8h	2h 31m	$1.3M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.085%Rate

Funding earned: $23.81
Price spread: +0.085% → −0.004%: $8.93
Slippage, 4 orders: −$43.73
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$25.98
Costs to cover: 0.587%
Break-even: 14.6 days

Slippage from Nado: live order book, 56 min ago; Aster: live order book, 3 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 Nado live order book, 56 min ago	8.85 bp	27.6 bp −$28	78.0 bp −$780	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.29 bp	8.5 bp −$9	331.0 bp −$3,310	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-PERPlong	−0.0113%	1h	169.10	long leg	$139K	$101K	3x
BloFin MSTR-USDT	−0.0006%	8h	169.29	+0.110%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.25	+0.085%	$1.3M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.30	+0.118%	$88.7M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.29	+0.110%	$22.1M	$107.3M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.25	+0.087%	$296K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.24	+0.081%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.29	+0.110%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	+0.198%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.33	+0.134%	$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	169.20	+0.057%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.10	−0.004%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.27	+0.098%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.34	+0.140%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	+0.004%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.19	+0.051%	$56.6M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.25	+0.087%	$410K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.26	+0.092%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.34	+0.140%	$737K	$5.0M	10x	as long as short
Bitget MSTRUSDT	+0.0070%	8h	169.32	+0.128%	$28.9M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0071%	8h	169.18	+0.045%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0090%	8h	169.27	+0.098%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.22	+0.067%	$103K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.20	+0.057%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.32	+0.128%	$4K	$981K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.29	+0.110%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.28	+0.105%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.29	+0.111%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.31	+0.122%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.002%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0678%	4h	169.31	+0.122%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0696%	1h	169.30	+0.116%	$288K	$438K	10x	as long as short