Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.011%

Price spread now: Variational Omni against Pacifica+0.132%7-day average +0.078% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.121%−$12 on $10k

Price spread, last 4 days (all we have)+1.456%+$146 · spread now +0.132%, 7d avg +0.078%

Together, before fees+1.334%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$133 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.054% dearer against Pacifica than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of +0.078%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	165.45	0.0100	pay 0.0013% / 1h	15m 38s	$101K	$84K	10x
Short	Variational Omni MSTR	165.67	0.0040	get 0.0040% / 8h	5h 15m	$1.2M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.132%Rate

Funding earned: −$12.66
Price spread: +0.132% → +0.078%: $5.45
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.21
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 47 min ago; Variational Omni: RFQ quote, 3 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, 47 min ago	0.73 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.96 bp	doesn't fit	7.7 bp −$77	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
Bitget MSTRUSDT	−0.0979%	8h	165.65	+0.118%	$27.7M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.53	+0.044%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.53	+0.046%	$20.8M	$100.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.64	+0.112%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.60	+0.088%	$2.8M	$72K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.45	−0.002%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.38	−0.045%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.349%	$8K	$26K	30x	as long as short
Variational Omni MSTRshort	+0.0040%	8h	165.67	+0.132%	$1.2M	$2.1M	—
Arcus MSTR-USD	+0.0040%	1h	165.53	+0.046%	$27K	$110K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.67	+0.131%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.51	+0.034%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.36	−0.057%	$882K	$4.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0057%	1h	165.42	−0.021%	$55.1M	$36.8M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.56	+0.064%	$1.4M	$7.5M	10x	as long as short
edgeX MSTRUSDC	+0.0087%	4h	165.50	+0.028%	$51K	$5.4M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	165.45	long leg	$101K	$84K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	165.44	−0.008%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.44	−0.008%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.61	+0.094%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.61	+0.096%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0107%	8h	165.55	+0.058%	$88.3M	$616.6M	50x	as long as short
SoDEX MSTR-USD	+0.0122%	1h	165.63	+0.106%	$44K	$3K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0136%	8h	165.46	+0.002%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0164%	8h	165.56	+0.061%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	+0.034%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	165.48	+0.018%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0224%	8h	165.52	+0.040%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.58	+0.076%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.50	+0.025%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0343%	8h	165.60	+0.088%	$17.2M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0777%	1h	165.68	+0.137%	$282K	$438K	10x	as long as short