Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h +0.046%

Price spread now: Binance against Polymarket Perps−0.024%46s7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as 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−$270.267% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 2 days (all we have)+0.249%+$25 · spread now −0.024%, 7d avg +0.045%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.070% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.045%). 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	167.47	0.0050	pay 0.0006% / 1h	12m 43s	$393K	$2.7M	10x
Short	Binance MSTRUSDT	167.43	0.0011	get 0.0011% / 8h	7h 12m	$88.1M	$613.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.024%Rate

Funding earned: −$8.26
Price spread: −0.024% → +0.045%: −$6.97
Slippage, 4 orders: −$8.69
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$41.91
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Binance: live order book, 16 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, 1 min ago	0.30 bp	8.2 bp −$8	9.6 bp −$96	12.1 bp −$1,214	doesn't fit
Sell Binance live order book, 16 min ago	0.30 bp	5.9 bp −$6	9.3 bp −$93	27.6 bp −$2,761	128.8 bp −$64.4K

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
Gate MSTR_USDT	−0.0116%	8h	167.47	0.000%	$4.7M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	167.54	+0.043%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	167.43	−0.024%	$21.6M	$99.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	167.52	+0.030%	$27.8M	$113.2M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.08	+0.364%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	167.91	+0.263%	$85K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.60	+0.078%	$2.8M	$67K	10x	as long as short
Nado MSTR-PERP	+0.0009%	1h	167.46	−0.008%	$136K	$128K	3x	as long as short
Binance MSTRUSDTshort	+0.0011%	8h	167.43	−0.024%	$88.1M	$613.7M	50x
Lighter MSTR	+0.0032%	1h	167.38	−0.054%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	167.25	−0.134%	$578K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	167.43	−0.024%	$1.4M	$8.8M	10x	as long as short
BloFin MSTR-USDT	+0.0037%	8h	167.61	+0.084%	$1.1M	$1.9M	20x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.88	+0.245%	$27K	$116K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.50	+0.018%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	167.47	long leg	$393K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	167.52	+0.030%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	167.45	−0.012%	$766K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.06	+0.352%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	167.45	−0.011%	$104K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	167.43	−0.024%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.76	+0.173%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.57	+0.060%	$3K	$7K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0104%	8h	167.38	−0.055%	$67	—	5x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	167.54	+0.044%	$139	—	10x	as long as short
Bybit MSTRUSDT	+0.0188%	8h	167.54	+0.042%	$16.0M	$39.5M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0230%	1h	167.43	−0.024%	$56.7M	$36.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.117%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.22	+0.448%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	167.45	−0.012%	$273K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0370%	4h	167.92	+0.266%	$45K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0945%	1h	167.57	+0.060%	$285K	$438K	10x	as long as short