Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.037%

Price spread now: Phemex against Pacifica+0.022%7-day average +0.037% · you sell dearer than you buy

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

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.291%−$29 on $10k

Price spread, last 3 days (all we have)−0.066%−$7 · spread now +0.022%, 7d avg +0.037%

Together, before fees−0.357%+ Points / potential airdropPacifica: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	169.00	0.0100	pay 0.0013% / 1h	8m 38s	$104K	$103K	10x
Short	Phemex MSTRUSDT	169.04	0	get 0.0000% / 4h	1h 08m	$2.9M	$63K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$21
Price spread: +0.022% → +0.037%: −$1.48
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$42.48
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 9 min ago; Phemex: live order book, 5 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 Pacifica live order book, 9 min ago	2.60 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.18 bp	doesn't fit	doesn't fit	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	−0.0068%	1h	168.88	−0.069%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0005%	8h	169.09	+0.052%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.89	−0.069%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.10	+0.060%	$89.3M	$628.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.10	+0.058%	$22.1M	$106.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.04	+0.022%	$275K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.99	−0.007%	$4.8M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.92	−0.050%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.10	+0.059%	$83K	$875K	10x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	169.04	+0.022%	$2.9M	$63K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	168.96	−0.025%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.92	−0.047%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0033%	8h	169.08	+0.046%	$28.8M	$119.4M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.99	−0.007%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.96	−0.025%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.96	−0.025%	$398K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.94	−0.037%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.63	−0.220%	$780K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.202%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0065%	8h	169.08	+0.046%	$15.2M	$40.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0082%	8h	169.03	+0.019%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0095%	1h	168.96	−0.025%	$57.0M	$37.5M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	169.00	long leg	$104K	$103K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	168.91	−0.054%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.92	−0.049%	$4K	$398K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.99	−0.007%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.01	+0.003%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	−0.004%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.188%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.09	+0.052%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0466%	4h	168.94	−0.034%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0638%	1h	169.07	+0.040%	$287K	$439K	10x	as long as short