Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

MSTR

RWAall MSTR markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.004%
Price spread now: BloFin against Phoenix+0.059%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$360.357% of the position
Long on PhoenixShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.008%+$1 on $10k
Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.059%, 7d avg +0.012%
Together, before fees+0.001%$0 on $10k · with fees, hour by hour
The price spread pays, funding is against you. BloFin is 0.047% dearer against Phoenix than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of +0.012%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix MSTR163.660.0460pay 0.0058% / 1h52m 19s$56K$223K10x
ShortBloFin MSTR-USDT163.760.0411get 0.0411% / 8h7h 52m$1.0M$2.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Phoenix. 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

Funding earned
−$10.38
Price spread: +0.059% → +0.012%
$4.68
Slippage, 4 orders
−$16.72
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$41.42
Costs to cover
0.357%
Break-even
never at this rate
Slippage from Phoenix: live order book, 43 min ago; BloFin: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 43 min ago2.69 bp9.4 bp −$918.7 bp −$187doesn't fitdoesn't fit
Sell BloFin live order book, 6 min ago0.61 bp9.2 bp −$913.1 bp −$13133.9 bp −$3,389doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0293%8h163.51−0.094%$29.9M$118.7M25xas long as short
Gate MSTR_USDT0.0000%8h163.66−0.002%$4.7M$18.4M50xas long as short
Phemex MSTRUSDT0.0000%4h163.50−0.100%$2.8M$85K10xas long as short
Lighter MSTR+0.0032%1h163.39−0.167%$3.5M$1.7M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.33−0.205%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.468%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.70+0.022%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.59−0.045%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.48−0.112%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.46−0.125%$898K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0053%1h163.43−0.143%$43K$3K10xas long as short
QFEX MSTR-USD+0.0061%1h163.70+0.022%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0097%8h163.56−0.064%$1.8M$8.7M50xas long as short
Nado MSTR-PERP+0.0099%1h163.53−0.084%$125K$165K3xas long as short
Pacifica MSTR+0.0100%1h163.58−0.052%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.53−0.082%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.28−0.235%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.54−0.076%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.46−0.124%$136—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.638%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0132%8h163.61−0.030%$65—5xas long as short
Bybit MSTRUSDT+0.0174%8h163.58−0.051%$17.1M$41.4M50xas long as short
Variational Omni MSTR+0.0215%8h163.64−0.016%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0215%8h163.52−0.088%$20.9M$99.4M50xas long as short
Binance MSTRUSDT+0.0296%8h163.58−0.052%$84.2M$619.3M50xas long as short
tradeXYZ xyz:MSTR+0.0354%1h163.53−0.082%$54.0M$37.4M10xas long as short
RISEx MSTR/USDC+0.0400%1h163.69+0.016%$269K$417K10xas long as short
BloFin MSTR-USDTshort+0.0411%8h163.76+0.059%$1.0M$2.1M20x
Phoenix MSTRlong+0.0460%1h163.66long leg$56K$223K10x
Deribit MSTR_USDC-PERPETUAL+0.0485%1h163.47−0.119%$278K$435K10xas long as short
GRVT MSTR_USDT_Perp+0.0761%8h163.46−0.125%$80K$858K10xas long as short
edgeX MSTRUSDC+0.0997%4h163.38−0.177%$47K$5.3M10xas long as short