Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Orderly−0.079%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Pacifica

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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.079% cheaper against Orderly than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	166.49	0.0100	pay 0.0100% / 8h	5h 57m	$3K	$10K	10x
Short	Pacifica MSTR	166.36	0.0100	get 0.0013% / 1h	57m 46s	$102K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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

Position, each leg$Hold fordaysFee OrderlybpFee PacificabpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → 0.000%: −$7.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$21.93
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 52 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 52 min ago	1.09 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn'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 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.763%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.58	+0.054%	$4.9M	$17.5M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.57	+0.048%	$32.1M	$106.5M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.42	−0.042%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.43	−0.036%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.36	−0.080%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.71	+0.132%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.40	−0.054%	$1.3M	$6.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.45	−0.024%	$384K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.47	−0.012%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.26	−0.138%	$874K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.426%	$1.4M	$390K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	166.36	−0.079%	$102K	$74K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	166.36	−0.078%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.09	−0.240%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	166.49	long leg	$3K	$10K	10x
Aevo MSTR-PERP	+0.0104%	1h	166.49	0.000%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0119%	8h	166.47	−0.014%	$67	—	5x	as long as short
Nado MSTR-PERP	+0.0150%	1h	166.45	−0.021%	$127K	$133K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0220%	1h	166.44	−0.030%	$55.0M	$34.5M	10x	as long as short
Aster MSTRUSDT	+0.0250%	8h	166.52	+0.017%	$1.8M	$7.0M	50x	as long as short
Bybit MSTRUSDT	+0.0255%	8h	166.54	+0.030%	$17.2M	$38.2M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0289%	8h	166.51	+0.012%	$21.6M	$84.6M	50x	as long as short
Variational Omni MSTR	+0.0329%	8h	166.18	−0.186%	$1.2M	$1.6M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.30	−0.115%	$56K	$207K	10x	as long as short
Binance MSTRUSDT	+0.0428%	8h	166.48	−0.006%	$87.2M	$542.5M	50x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.47	−0.009%	$275K	$353K	10x	as long as short
edgeX MSTRUSDC	+0.0452%	4h	166.18	−0.188%	$48K	$5.0M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0471%	1h	166.50	+0.006%	$283K	$209K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0508%	8h	166.41	−0.048%	$85K	$863K	10x	as long as short
BloFin MSTR-USDT	+0.0549%	8h	166.54	+0.030%	$1.1M	$2.0M	20x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.54	+0.030%	$26K	$71K	10x	as long as short