Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.050%

Price spread now: OKX against Phemex+0.018%7-day average −0.016% · you sell dearer than you buy

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

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.267%+$27 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now +0.018%, 7d avg −0.016%

Together, before fees+0.280%+$28 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: OKX is 0.034% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MSTRUSDT	168.55	0	get 0.0000% / 4h	3h 31m	$2.8M	$66K	10x
Short	OKX MSTR-USDT-SWAP	168.58	0	get 0.0000% / 8h	7h 31m	$21.7M	$101.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0
Price spread: +0.018% → −0.016%: $3.35
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.65
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	5.34 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.30 bp	7.9 bp −$8	13.6 bp −$136	64.6 bp −$6,456	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	−0.0050%	1h	168.13	−0.249%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.45	−0.060%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAPshort	0.0000%	8h	168.58	+0.018%	$21.7M	$101.1M	50x
Gate MSTR_USDT	0.0000%	8h	168.54	−0.006%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.65	+0.059%	$28.4M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.67	+0.071%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.43	−0.071%	$85K	$825K	10x	as long as short
Phemex MSTRUSDTlong	0.0000%	4h	168.55	long leg	$2.8M	$66K	10x
Lighter MSTR	+0.0032%	1h	168.41	−0.083%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.38	−0.098%	$582K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0035%	1h	168.28	−0.160%	$1.4M	$9.3M	10x	as long as short
Binance MSTRUSDT	+0.0039%	8h	168.56	+0.008%	$88.9M	$615.8M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.52	−0.018%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.25	−0.178%	—	$1.7M	25x	as long as short
BloFin MSTR-USDT	+0.0047%	8h	168.31	−0.142%	$1.1M	$1.9M	20x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.23	−0.190%	$395K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.29	−0.154%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.17	−0.225%	$761K	$5.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.053%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.26	−0.170%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.31	−0.144%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.48	−0.042%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.66	+0.065%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.44	−0.065%	$3K	$8K	10x	as long as short
Bybit MSTRUSDT	+0.0103%	8h	168.55	0.000%	$15.1M	$39.3M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.40	−0.087%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0219%	1h	168.46	−0.053%	$56.9M	$35.3M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.469%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.74	+0.112%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.30	−0.146%	$274K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0958%	4h	168.47	−0.045%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1117%	1h	168.50	−0.030%	$287K	$438K	10x	as long as short