Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.020%

Price spread now: Aster against Polymarket Perps−0.043%46s7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.316% of the position

Long on Polymarket Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.043%, 7d avg +0.064%

Together, before fees−0.155%+ Points / potential airdropAster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.107% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.064%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	169.34	0.0050	pay 0.0006% / 1h	34m 41s	$416K	$2.6M	10x
Short	Aster MSTRUSDT	169.27	0	get 0.0000% / 8h	2h 34m	$1.3M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Polymarket Perps. 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 Polymarket PerpsbpFee AsterbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$10.5
Price spread: −0.043% → +0.064%: −$10.69
Slippage, 4 orders: −$15.64
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$52.83
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Aster: live order book, 4 min ago.

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 Polymarket Perps live order book, 4 min ago	2.66 bp	7.5 bp −$8	9.9 bp −$99	12.3 bp −$1,232	doesn't fit
Sell Aster live order book, 4 min ago	1.18 bp	7.4 bp −$7	327.9 bp −$3,279	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	−0.0146%	1h	169.24	−0.056%	$139K	$101K	3x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.27	−0.043%	$1.3M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.44	+0.061%	$88.7M	$629.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.41	+0.041%	$22.1M	$107.5M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.40	+0.032%	$296K	$437K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.37	+0.018%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.29	−0.030%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.35	+0.006%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.51	+0.100%	$2.9M	$57K	10x	as long as short
BloFin MSTR-USDT	+0.0025%	8h	169.52	+0.106%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.25	−0.053%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.20	−0.083%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.40	+0.035%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.42	+0.047%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.136%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.32	−0.012%	$56.9M	$38.0M	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	169.34	long leg	$416K	$2.6M	10x
SoDEX MSTR-USD	+0.0050%	1h	169.42	+0.047%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.34	0.000%	$738K	$5.0M	10x	as long as short
Bitget MSTRUSDT	+0.0072%	8h	169.40	+0.035%	$28.9M	$119.7M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0072%	8h	169.38	+0.023%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0092%	8h	169.36	+0.012%	$15.2M	$41.4M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.41	+0.039%	$103K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.26	−0.047%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.39	+0.030%	$4K	$998K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.42	+0.047%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.41	+0.041%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.22	−0.071%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0192%	4h	169.19	−0.088%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.39	+0.030%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.142%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0814%	1h	169.43	+0.053%	$288K	$438K	10x	as long as short