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 +0.022%

Price spread now: OKX against Pacifica+0.083%7-day average +0.022% · 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−$30as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.083%, 7d avg +0.022%

Together, before fees−0.073%+ Points / potential airdropPacifica: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.061% dearer against Pacifica than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of +0.022%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 7 days (−0.024% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	169.28	0.0100	pay 0.0013% / 1h	27m 08s	$103K	$137K	10x
Short	OKX MSTR-USDT-SWAP	169.42	0	get 0.0000% / 8h	2h 27m	$22.1M	$107.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$21
Price spread: +0.083% → +0.022%: $6.1
Slippage, 4 orders: −$18
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$50.9
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Pacifica: live order book, 60 min ago; OKX: live order book, 2 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, 60 min ago	1.44 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.29 bp	8.1 bp −$8	14.2 bp −$142	80.9 bp −$8,088	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	−0.0095%	1h	169.28	+0.003%	$139K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0027%	8h	169.45	+0.101%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.36	+0.048%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.39	+0.066%	$88.7M	$629.3M	50x	as long as short
OKX MSTR-USDT-SWAPshort	0.0000%	8h	169.42	+0.083%	$22.1M	$107.5M	50x
RISEx MSTR/USDC	0.0000%	1h	169.32	+0.027%	$296K	$437K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.40	+0.071%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.30	+0.011%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.28	−0.002%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.41	+0.077%	$2.9M	$57K	10x	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	169.28	+0.001%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.22	−0.036%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.36	+0.048%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.55	+0.160%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.100%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.33	+0.030%	$56.6M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.35	+0.042%	$412K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.36	+0.048%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.17	−0.064%	$737K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0069%	8h	169.45	+0.101%	$28.9M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	169.34	+0.035%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0091%	8h	169.37	+0.054%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTRlong	+0.0100%	1h	169.28	long leg	$103K	$137K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.22	−0.035%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.27	−0.005%	$4K	$979K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.36	+0.048%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.35	+0.044%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.27	−0.004%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0358%	4h	169.27	−0.005%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.37	+0.054%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.106%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0755%	1h	169.39	+0.066%	$288K	$438K	10x	as long as short