Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.015%

Price spread now: Pacifica against OKX+0.117%49s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.304% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.117%, 7d avg −0.022%

Together, before fees−0.137%+ Points / potential airdropPacifica: Active · farm board−$14 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 Pacifica is 0.139% dearer against OKX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.022%. The two prices were read 49 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	OKX MSTR-USDT-SWAP	167.45	0	get 0.0000% / 8h	7h 12m	$21.6M	$99.9M	50x
Short	Pacifica MSTR	167.65	0.0100	get 0.0013% / 1h	12m 46s	$104K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.117%Rate

Funding earned: $21
Price spread: +0.117% → −0.022%: $13.86
Slippage, 4 orders: −$12.37
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $4.5
Costs to cover: 0.304%
Break-even: 5.5 days

Slippage from OKX: live order book, 1 min ago; Pacifica: live order book, 60 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, 1 min ago	0.30 bp	5.8 bp −$6	10.1 bp −$101	72.1 bp −$7,214	doesn't fit
Sell Pacifica live order book, 60 min ago	1.33 bp	8.6 bp −$9	doesn't fit	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
Gate MSTR_USDT	−0.0099%	8h	167.48	+0.018%	$4.7M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	167.55	+0.059%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAPlong	0.0000%	8h	167.45	long leg	$21.6M	$99.9M	50x
Bitget MSTRUSDT	0.0000%	8h	167.49	+0.024%	$27.9M	$113.2M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.08	+0.376%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	167.91	+0.275%	$85K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.60	+0.090%	$2.8M	$67K	10x	as long as short
Nado MSTR-PERP	+0.0009%	1h	167.46	+0.004%	$136K	$128K	3x	as long as short
Binance MSTRUSDT	+0.0012%	8h	167.44	−0.006%	$88.1M	$613.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	167.38	−0.042%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	167.24	−0.125%	$578K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	167.60	+0.090%	$1.4M	$8.8M	10x	as long as short
BloFin MSTR-USDT	+0.0037%	8h	167.61	+0.096%	$1.1M	$1.9M	20x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.02	+0.340%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.50	+0.030%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	167.47	+0.012%	$393K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	167.52	+0.042%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	167.81	+0.215%	$766K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.06	+0.364%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	167.65	+0.117%	$104K	$84K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	167.48	+0.018%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.76	+0.185%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.57	+0.072%	$3K	$7K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0104%	8h	167.56	+0.065%	$67	—	5x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	167.54	+0.056%	$139	—	10x	as long as short
Bybit MSTRUSDT	+0.0184%	8h	167.52	+0.042%	$16.0M	$39.5M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0230%	1h	167.43	−0.012%	$56.7M	$36.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.129%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.22	+0.460%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	167.59	+0.081%	$273K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0370%	4h	167.92	+0.278%	$45K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0945%	1h	167.57	+0.072%	$285K	$438K	10x	as long as short