Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0118%/8h= −13.0% APRpaid last 24h +0.026%

Price spread now: Binance against Nado+0.146%58s7-day average +0.021% · 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—prices read too far apart to compare

costs, in and out, $10k−$690.693% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.146%, 7d avg +0.021%

Together, before fees+0.021%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.125% dearer against Nado than usual: you sell high and buy low (spread +0.146% now, against its 7-day average of +0.021%): +$13 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.5 days. Mind the row above: over the last 3 days funding on this pair paid +0.097%, so the current rate has only just turned against you. The two prices were read 58 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	Nado MSTR-PERP	164.27	0.0210	pay 0.0026% / 1h	36m 39s	$122K	$149K	3x
Short	Binance MSTRUSDT	164.51	0.0092	get 0.0092% / 8h	5h 36m	$88.2M	$618.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.146%Rate

Funding earned: −$24.84
Price spread: +0.146% → +0.021%: $12.51
Slippage, 4 orders: −$52.32
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$81.65
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from Nado: live order book, 26 min ago; Binance: live order book, 7 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, 26 min ago	6.99 bp	27.0 bp −$27	75.8 bp −$758	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.30 bp	6.3 bp −$6	10.0 bp −$100	29.9 bp −$2,990	69.0 bp −$34.5K

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	−0.1281%	8h	164.59	+0.195%	$27.6M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.37	+0.063%	$1.8M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.49	+0.134%	$20.8M	$99.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.50	+0.140%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.50	+0.140%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0021%	8h	164.09	−0.108%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.42	+0.091%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.35	+0.052%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.087%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.35	+0.049%	$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	164.18	−0.055%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.33	+0.037%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.31	+0.024%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.04	−0.140%	$855K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.50	+0.140%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0083%	1h	164.35	+0.049%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDTshort	+0.0092%	8h	164.51	+0.146%	$88.2M	$618.8M	50x
Pacifica MSTR	+0.0100%	1h	164.50	+0.143%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.31	+0.024%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.18	−0.055%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.41	+0.085%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.39	+0.074%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0142%	8h	164.47	+0.122%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0153%	8h	164.33	+0.035%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.109%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERPlong	+0.0210%	1h	164.27	long leg	$122K	$149K	3x
BloFin MSTR-USDT	+0.0210%	8h	164.49	+0.134%	$1.0M	$1.9M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.51	+0.146%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.24	−0.019%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0354%	8h	164.57	+0.183%	$17.1M	$40.8M	50x	as long as short
edgeX MSTRUSDC	+0.0857%	4h	164.20	−0.045%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0967%	1h	164.49	+0.134%	$280K	$438K	10x	as long as short