Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Aster against OKX−0.184%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on OKX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 7 days+0.247%+$25 · spread now −0.184%, 7d avg −0.017%

Together, before fees+0.139%+ Points / potential airdropAster: Stage 5 · farm board+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.167% cheaper against OKX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSTR-USDT-SWAP	169.54	0	get 0.0000% / 8h	53m 49s	$22.1M	$106.9M	50x
Short	Aster MSTRUSDT	169.23	0	get 0.0000% / 8h	53m 49s	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against OKX. 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 OKXbpFee AsterbpOrdersPrice spread, now −0.184%Rate

Funding earned: $0
Price spread: −0.184% → −0.017%: −$16.74
Slippage, 4 orders: −$11.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$46.69
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Aster: live order book, 5 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 OKX live order book, 5 min ago	0.29 bp	8.2 bp −$8	13.9 bp −$139	71.8 bp −$7,181	doesn't fit
Sell Aster live order book, 5 min ago	0.89 bp	6.1 bp −$6	312.8 bp −$3,128	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
BloFin MSTR-USDT	−0.0009%	8h	169.56	+0.012%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.23	−0.184%	$1.2M	$6.1M	50x
Binance MSTRUSDT	0.0000%	8h	169.54	0.000%	$89.5M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAPlong	0.0000%	8h	169.54	long leg	$22.1M	$106.9M	50x
Gate MSTR_USDT	0.0000%	8h	169.46	−0.047%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	−0.093%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.32	−0.131%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.55	+0.006%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.57	+0.018%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.30	−0.142%	$583K	$1.8M	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	169.64	+0.059%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0046%	8h	169.55	+0.006%	$28.8M	$120.6M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.55	+0.006%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.46	−0.047%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.40	−0.083%	$781K	$5.2M	10x	as long as short
Nado MSTR-PERP	+0.0076%	1h	169.39	−0.090%	$140K	$97K	3x	as long as short
Bybit MSTRUSDT	+0.0083%	8h	169.54	0.000%	$15.2M	$40.6M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.265%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.50	−0.024%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.32	−0.130%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.283%	$4K	$394K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	−0.029%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.271%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.50	−0.024%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0106%	8h	169.49	−0.027%	$68	—	5x	as long as short
Lighter MSTR	+0.0144%	1h	169.51	−0.018%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0165%	1h	169.47	−0.041%	$57.2M	$37.4M	10x	as long as short
SoDEX MSTR-USD	+0.0228%	1h	169.56	+0.012%	$45K	$3K	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.20	−0.201%	$57K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.56	+0.012%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0980%	4h	169.29	−0.148%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1049%	1h	169.59	+0.029%	$288K	$439K	10x	as long as short