Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.015%

Price spread now: Nado against OKX−0.032%7-day average −0.017% · you buy dearer than you sell

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−$490.487% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 3 days (all we have)+0.204%+$20 · spread now −0.032%, 7d avg −0.017%

Together, before fees+0.126%+ Points / potential airdropNado: Active · farm board+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSTR-USDT-SWAP	168.57	0	get 0.0000% / 8h	7h 35m	$21.7M	$101.8M	50x
Short	Nado MSTR-PERP	168.52	−0.0064	pay 0.0008% / 1h	35m 52s	$139K	$90K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.032%Rate

Funding earned: −$13.35
Price spread: −0.032% → −0.017%: −$1.49
Slippage, 4 orders: −$31.68
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$63.52
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Nado: live order book, 37 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, 3 min ago	0.30 bp	5.9 bp −$6	10.5 bp −$105	60.7 bp −$6,068	doesn't fit
Sell Nado live order book, 37 min ago	4.15 bp	11.3 bp −$11	69.4 bp −$694	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-PERPshort	−0.0064%	1h	168.52	−0.032%	$139K	$90K	3x
Aster MSTRUSDT	0.0000%	8h	168.67	+0.058%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAPlong	0.0000%	8h	168.57	long leg	$21.7M	$101.8M	50x
Gate MSTR_USDT	0.0000%	8h	168.61	+0.024%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.65	+0.047%	$28.5M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.67	+0.059%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.69	+0.071%	$85K	$860K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.71	+0.083%	$2.8M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.69	+0.071%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.46	−0.068%	$581K	$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
QFEX MSTR-USD	+0.0035%	1h	168.70	+0.077%	$1.4M	$9.5M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.79	+0.131%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.62	+0.030%	—	$1.7M	25x	as long as short
Bybit MSTRUSDT	+0.0049%	8h	168.63	+0.036%	$15.1M	$39.3M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.64	+0.042%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.64	+0.042%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.51	−0.036%	$761K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0053%	8h	168.61	+0.026%	$88.9M	$616.5M	50x	as long as short
BloFin MSTR-USDT	+0.0056%	8h	168.73	+0.095%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.065%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.68	+0.065%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.67	+0.059%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.65	+0.047%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.65	+0.047%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.69	+0.071%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.65	+0.046%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	168.64	+0.042%	$56.9M	$35.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.457%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.74	+0.100%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.72	+0.089%	$275K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0572%	4h	168.81	+0.144%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0818%	1h	168.75	+0.107%	$287K	$438K	10x	as long as short