Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h −0.039%

Price spread now: GRVT against Nado+0.028%61s7-day average +0.026% · 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−$450.446% of the position

Long on Nado Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.028%, 7d avg +0.026%

Together, before fees+0.034%+ Points / potential airdropNado: Active · GRVT: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 61 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	168.67	−0.0115	get 0.0014% / 1h	28m 38s	$139K	$97K	3x
Short	GRVT MSTR_USDT_Perp	168.72	0	get 0.0000% / 8h	1h 28m	$83K	$935K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.028%Rate

Funding earned: $24.22
Price spread: +0.028% → +0.026%: $0.19
Slippage, 4 orders: −$28.65
Fee Nado: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$20.24
Costs to cover: 0.446%
Break-even: 12.8 days

Slippage from Nado: live order book, 54 min ago; GRVT: live order book, 54 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, 54 min ago	5.90 bp	12.6 bp −$13	68.5 bp −$685	doesn't fit	doesn't fit
Sell GRVT live order book, 54 min ago	1.47 bp	8.1 bp −$8	10.9 bp −$109	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	−0.0115%	1h	168.67	long leg	$139K	$97K	3x
BloFin MSTR-USDT	−0.0002%	8h	168.83	+0.094%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.74	+0.041%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.83	+0.096%	$88.2M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.84	+0.100%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.82	+0.090%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.78	+0.065%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.91	+0.141%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perpshort	0.0000%	8h	168.72	+0.028%	$83K	$935K	10x
Phemex MSTRUSDT	0.0000%	4h	168.85	+0.106%	$2.9M	$61K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.83	+0.094%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.72	+0.029%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.63	−0.027%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.81	+0.082%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.75	+0.047%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.72	+0.029%	$396K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.72	+0.029%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.64	−0.018%	$741K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0053%	8h	168.81	+0.082%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.007%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0065%	1h	168.75	+0.047%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0069%	8h	168.73	+0.033%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.76	+0.051%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.74	+0.041%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	+0.213%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.75	+0.047%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.73	+0.034%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	+0.203%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0278%	4h	169.05	+0.223%	$47K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.367%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.86	+0.112%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0639%	1h	168.84	+0.100%	$287K	$439K	10x	as long as short