Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.031%

Price spread now: Polymarket Perps against OKX−0.029%7-day average −0.080% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.029%, 7d avg −0.080%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.050% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSTR-USDT-SWAP	169.63	0	get 0.0000% / 8h	7h 56m	$22.0M	$104.7M	50x
Short	Polymarket Perps MSTR-USD	169.58	0.0050	get 0.0006% / 1h	56m 06s	$400K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.029%Rate

Funding earned: $10.5
Price spread: −0.029% → −0.080%: $5.04
Slippage, 4 orders: −$12.87
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$15.33
Costs to cover: 0.309%
Break-even: 17.2 days

Slippage from OKX: live order book, 3 min ago; Polymarket Perps: live order book, 3 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	0.29 bp	6.8 bp −$7	13.0 bp −$130	81.9 bp −$8,192	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	3.54 bp	7.8 bp −$8	9.2 bp −$92	12.5 bp −$1,248	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-PERP	−0.0072%	1h	169.58	−0.028%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.51	−0.069%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.62	−0.006%	$15.2M	$39.9M	50x	as long as short
OKX MSTR-USDT-SWAPlong	0.0000%	8h	169.63	long leg	$22.0M	$104.7M	50x
Gate MSTR_USDT	0.0000%	8h	169.59	−0.024%	$4.7M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.48	−0.088%	$2.9M	$66K	10x	as long as short
Variational Omni MSTR	+0.0002%	8h	169.63	+0.001%	$1.2M	$2.4M	—	as long as short
Lighter MSTR	+0.0032%	1h	169.53	−0.059%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	−0.091%	$581K	$1.7M	10x	as long as short
Bitget MSTRUSDT	+0.0035%	8h	169.59	−0.024%	$28.7M	$116.2M	25x	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	169.56	−0.041%	$1.5M	$10.2M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.70	+0.041%	$27K	$122K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.82	+0.112%	—	$2.1M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.55	−0.046%	$77K	$871K	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	169.58	−0.029%	$400K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	169.58	−0.029%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	+0.059%	$765K	$5.1M	10x	as long as short
BloFin MSTR-USDT	+0.0057%	8h	169.81	+0.106%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0073%	8h	169.58	−0.030%	$89.5M	$624.2M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.519%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0095%	8h	169.58	−0.028%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.55	−0.049%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.48	−0.088%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.29	−0.200%	$4K	$223K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.59	−0.024%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.031%	$141	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.49	−0.083%	$13K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.47	−0.093%	$57K	$384K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0306%	1h	169.65	+0.012%	$57.3M	$37.0M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.59	−0.027%	$276K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0365%	4h	169.54	−0.053%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0458%	1h	169.62	−0.006%	$288K	$438K	10x	as long as short