Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.052%

Price spread now: Aster against Phemex+0.058%7-day average −0.038% · you sell dearer than you buy

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

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now +0.058%, 7d avg −0.038%

Together, before fees+0.177%+ Points / potential airdropAster: Stage 5 · farm board+$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.095% dearer against Phemex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MSTRUSDT	169.01	0	get 0.0000% / 4h	1h 36m	$2.9M	$61K	10x
Short	Aster MSTRUSDT	169.11	0	get 0.0000% / 8h	1h 36m	$1.2M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → −0.038%: $9.53
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$10.47
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Aster: live order book, 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 Phemex live order book, 3 min ago	0.59 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	2.36 bp	17.6 bp −$18	444.5 bp −$4,445	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	−0.0098%	1h	169.03	+0.014%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0006%	8h	169.20	+0.112%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.11	+0.058%	$1.2M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.03	+0.012%	$88.3M	$628.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.02	+0.006%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.11	+0.056%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.98	−0.018%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.40	+0.228%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.36	+0.210%	$74K	$925K	10x	as long as short
Phemex MSTRUSDTlong	0.0000%	4h	169.01	long leg	$2.9M	$61K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	168.95	−0.036%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.98	−0.019%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0038%	8h	169.02	+0.006%	$28.9M	$119.6M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.06	+0.030%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.18	+0.101%	—	$2.1M	25x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0046%	1h	169.03	+0.012%	$287K	$439K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.01	0.000%	$403K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.01	0.000%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.02	+0.006%	$740K	$5.2M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.047%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0059%	1h	168.98	−0.018%	$56.9M	$37.9M	10x	as long as short
Bybit MSTRUSDT	+0.0064%	8h	169.04	+0.018%	$15.1M	$40.8M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0072%	8h	169.05	+0.021%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.11	+0.059%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.02	+0.006%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.32	+0.183%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.08	+0.041%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.06	+0.031%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.22	+0.124%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.166%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.15	+0.083%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0499%	4h	169.32	+0.184%	$48K	$5.4M	10x	as long as short