Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.015%

Price spread now: Aster against Pacifica−0.025%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Pacifica Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.132%−$13 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.025%, 7d avg +0.003%

Together, before fees−0.081%+ Points / potential airdropPacifica: Active · Aster: Stage 5 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.028% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	169.26	0.0100	pay 0.0013% / 1h	39m 29s	$103K	$137K	10x
Short	Aster MSTRUSDT	169.22	0	get 0.0000% / 8h	2h 39m	$1.3M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$21
Price spread: −0.025% → +0.003%: −$2.83
Slippage, 4 orders: −$19.61
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$59.44
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Pacifica: live order book, 48 min ago; Aster: live order book, 4 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 Pacifica live order book, 48 min ago	1.44 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.89 bp	7.2 bp −$7	221.9 bp −$2,219	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-PERP	−0.0147%	1h	169.05	−0.129%	$139K	$101K	3x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.22	−0.025%	$1.3M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.23	−0.020%	$88.6M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.15	−0.067%	$22.1M	$107.3M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.23	−0.022%	$299K	$435K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.13	−0.079%	$4.8M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.21	−0.034%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.17	−0.056%	$83K	$960K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.33	+0.039%	$2.9M	$56K	10x	as long as short
BloFin MSTR-USDT	+0.0017%	8h	169.19	−0.043%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.24	−0.014%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.20	−0.038%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.18	−0.049%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.41	+0.087%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.091%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.10	−0.097%	$56.8M	$38.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.16	−0.061%	$425K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.21	−0.032%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.10	−0.097%	$737K	$5.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0068%	8h	169.24	−0.016%	$68	—	5x	as long as short
Bitget MSTRUSDT	+0.0079%	8h	169.14	−0.073%	$28.8M	$119.5M	25x	as long as short
Bybit MSTRUSDT	+0.0098%	8h	169.18	−0.049%	$15.2M	$41.4M	50x	as long as short
Pacifica MSTRlong	+0.0100%	1h	169.26	long leg	$103K	$137K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.09	−0.103%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.26	−0.002%	$4K	$1.0M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.30	+0.022%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.33	+0.040%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.19	−0.045%	$57K	$396K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0282%	1h	169.37	+0.063%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.25	−0.008%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.376%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0652%	4h	169.19	−0.043%	$49K	$5.4M	10x	as long as short