Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.031%

Price spread now: Binance against Pacifica+0.065%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 2 days (all we have)−0.089%−$9 · spread now +0.065%, 7d avg +0.019%

Together, before fees−0.141%+ Points / potential airdropPacifica: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.046% dearer against Pacifica than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.019%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 7 days (−0.052% in total) that is about 6.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	169.18	0.0100	pay 0.0013% / 1h	57m 38s	$105K	$104K	10x
Short	Binance MSTRUSDT	169.29	0	get 0.0000% / 8h	57m 38s	$89.4M	$629.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.065%Rate

Funding earned: −$21
Price spread: +0.065% → +0.019%: $4.64
Slippage, 4 orders: −$14.63
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$48.99
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Pacifica: live order book, 20 min ago; Binance: live order book, 16 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, 20 min ago	2.60 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.30 bp	6.3 bp −$6	9.8 bp −$98	23.8 bp −$2,385	120.9 bp −$60.5K

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	−0.0054%	1h	169.13	−0.030%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0012%	8h	169.15	−0.018%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.15	−0.018%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDTshort	0.0000%	8h	169.29	+0.065%	$89.4M	$629.0M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	169.27	+0.053%	$22.0M	$106.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.23	+0.030%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.02	−0.093%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.12	−0.037%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.20	+0.012%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.29	+0.067%	$276K	$442K	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	169.06	−0.071%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0040%	8h	169.24	+0.035%	$28.8M	$120.5M	25x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.31	+0.077%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.25	+0.041%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.19	+0.006%	$393K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.22	+0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.07	−0.065%	$780K	$5.1M	10x	as long as short
Bybit MSTRUSDT	+0.0074%	8h	169.24	+0.035%	$15.2M	$40.6M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0078%	1h	169.18	0.000%	$57.1M	$37.5M	10x	as long as short
Lighter MSTR	+0.0080%	1h	169.25	+0.041%	$3.6M	$2.4M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0096%	8h	169.21	+0.015%	$68	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.053%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	169.18	long leg	$105K	$104K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.07	−0.065%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.91	−0.160%	$4K	$395K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.21	+0.018%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.32	+0.083%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.21	+0.017%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	−0.103%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0434%	4h	169.14	−0.025%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.29	+0.065%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0755%	1h	169.28	+0.059%	$288K	$439K	10x	as long as short