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Funding arb · Price arb /

MSTR

RWAall MSTR markets
SwapBacktest
Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0508%/8h= +55.6% APRpaid last 24h +0.182%
Price spread now: Deribit against Orderly+0.024%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OrderlyShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Deribit is 0.024% dearer against Orderly than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_MSTR_USDC_mythos163.330.0100pay 0.0100% / 8h7h 54m$3K$13K10x
ShortDeribit MSTR_USDC-PERPETUAL163.370.0608get 0.0076% / 1h54m 43s$278K$435K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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

Funding earned
$106.61
Price spread: +0.024% → 0.000%
$2.45
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$96.06
Costs to cover
0.130%
Break-even
0.7 days
Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 44 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Deribit live order book, 44 min ago6.72 bp10.8 bp −$1111.9 bp −$119doesn't fitdoesn't fit
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0332%8h163.72+0.239%$29.9M$119.0M25xas long as short
Gate MSTR_USDT0.0000%8h163.71+0.233%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.52+0.116%$2.8M$85K10xas long as short
Lighter MSTR+0.0032%1h163.53+0.122%$3.5M$1.7M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.42+0.057%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.680%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.41+0.049%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.34+0.006%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.14−0.116%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.37+0.024%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.46+0.080%$898K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.36+0.018%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0091%8h163.57+0.147%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.61+0.174%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.46+0.080%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.45+0.073%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythoslong+0.0100%8h163.33long leg$3K$13K10x
Aevo MSTR-PERP+0.0104%1h163.38+0.032%$136—10xas long as short
Nado MSTR-PERP+0.0110%1h163.20−0.077%$125K$165K3xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.435%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0128%8h163.09−0.148%$65—5xas long as short
Bybit MSTRUSDT+0.0179%8h163.61+0.171%$17.1M$41.4M50xas long as short
OKX MSTR-USDT-SWAP+0.0214%8h163.58+0.153%$20.9M$99.6M50xas long as short
Variational Omni MSTR+0.0215%8h163.64+0.189%$1.2M$2.0M—as long as short
Binance MSTRUSDT+0.0287%8h163.63+0.184%$84.2M$620.0M50xas long as short
tradeXYZ xyz:MSTR+0.0334%1h163.60+0.165%$54.1M$37.4M10xas long as short
Phoenix MSTR+0.0357%1h163.79+0.280%$56K$223K10xas long as short
RISEx MSTR/USDC+0.0400%1h163.36+0.018%$268K$417K10xas long as short
BloFin MSTR-USDT+0.0406%8h163.47+0.086%$1.0M$2.1M20xas long as short
GRVT MSTR_USDT_Perp+0.0485%8h163.68+0.214%$80K$858K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0608%1h163.37+0.024%$278K$435K10x
edgeX MSTRUSDC+0.0653%4h163.92+0.361%$47K$5.3M10xas long as short