Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.018%

Price spread now: Bybit against Polymarket Perps+0.083%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days−0.205%−$21 · spread now +0.083%, 7d avg +0.074%

Together, before fees−0.227%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	169.46	0.0050	pay 0.0006% / 1h	54m 28s	$393K	$2.7M	10x
Short	Bybit MSTRUSDT	169.60	0.0083	get 0.0083% / 8h	54m 28s	$15.2M	$40.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.083%Rate

Funding earned: $6.87
Price spread: +0.083% → +0.074%: $0.85
Slippage, 4 orders: −$14.47
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$25.75
Costs to cover: 0.335%
Break-even: 33.2 days

Slippage from Polymarket Perps: live order book, 4 min ago; Bybit: 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	1.18 bp	7.9 bp −$8	8.7 bp −$87	11.0 bp −$1,096	doesn't fit
Sell Bybit live order book, 4 min ago	0.29 bp	9.0 bp −$9	14.2 bp −$142	118.6 bp −$11.9K	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
BloFin MSTR-USDT	−0.0009%	8h	169.56	+0.059%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.22	−0.140%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.58	+0.071%	$89.5M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.58	+0.071%	$22.1M	$106.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.51	+0.030%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	−0.046%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.32	−0.084%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.52	+0.035%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.57	+0.065%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.30	−0.094%	$583K	$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
Vest MSTR-USD-PERP	+0.0046%	1h	169.64	+0.106%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0046%	8h	169.54	+0.047%	$28.8M	$120.6M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.55	+0.053%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	169.46	long leg	$393K	$2.7M	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.40	−0.035%	$781K	$5.2M	10x	as long as short
Nado MSTR-PERP	+0.0076%	1h	169.39	−0.043%	$140K	$97K	3x	as long as short
Bybit MSTRUSDTshort	+0.0083%	8h	169.60	+0.083%	$15.2M	$40.6M	50x
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.218%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.50	+0.024%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.32	−0.083%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.236%	$4K	$394K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	+0.018%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.224%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.44	−0.011%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0106%	8h	169.49	+0.020%	$68	—	5x	as long as short
Lighter MSTR	+0.0144%	1h	169.47	+0.006%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0160%	1h	169.46	0.000%	$57.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.20	−0.153%	$57K	$392K	10x	as long as short
SoDEX MSTR-USD	+0.0270%	1h	169.53	+0.041%	$45K	$3K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.56	+0.059%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0980%	4h	169.29	−0.101%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1049%	1h	169.59	+0.077%	$288K	$439K	10x	as long as short