Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0349%/8h= −38.2% APRpaid last 24h −0.056%

Price spread now: Aster against RISEx−0.045%65s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$250.247% of the position

Long on RISEx Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.305%−$30 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.045%, 7d avg −0.039%

Together, before fees−0.310%+ Points / potential airdropAster: Stage 5 · farm board−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 65 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	RISEx MSTR/USDC	162.79	0.0381	pay 0.0048% / 1h	32m 35s	$262K	$436K	10x
Short	Aster MSTRUSDT	162.72	0.0033	get 0.0033% / 8h	1h 32m	$1.8M	$8.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against RISEx. 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 RISExbpFee AsterbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$73.21
Price spread: −0.045% → −0.039%: −$0.56
Slippage, 4 orders: −$10.69
Fee RISEx: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$98.45
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from RISEx: live order book, 11 min ago; Aster: live order book, 1 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 RISEx live order book, 11 min ago	1.53 bp	4.5 bp −$5	6.2 bp −$62	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	0.61 bp	6.6 bp −$7	83.4 bp −$834	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
Bitget MSTRUSDT	−0.0952%	8h	162.92	+0.080%	$28.6M	$118.8M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.77	−0.012%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.91	+0.074%	$2.7M	$78K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.48	−0.191%	$508K	$2.0M	10x	as long as short
Aster MSTRUSDTshort	+0.0033%	8h	162.72	−0.045%	$1.8M	$8.7M	50x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.023%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.76	−0.019%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.38	−0.252%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.75	−0.025%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.70	−0.055%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.58	−0.129%	$852K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.61	−0.111%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.69	−0.064%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.72	−0.043%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.41	−0.234%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.83	+0.024%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.84	+0.033%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0147%	8h	162.65	−0.086%	$20.7M	$100.1M	50x	as long as short
Variational Omni MSTR	+0.0149%	8h	162.56	−0.144%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.780%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0162%	8h	162.66	−0.082%	$65	—	5x	as long as short
Lighter MSTR	+0.0168%	1h	162.72	−0.043%	$3.5M	$2.0M	10x	as long as short
Binance MSTRUSDT	+0.0231%	8h	162.63	−0.098%	$83.7M	$627.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0238%	8h	162.63	−0.101%	$83K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0288%	1h	162.70	−0.055%	$53.9M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.69	−0.064%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0350%	8h	162.95	+0.098%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0355%	1h	162.58	−0.130%	$130K	$157K	3x	as long as short
RISEx MSTR/USDClong	+0.0381%	1h	162.79	long leg	$262K	$436K	10x
Bybit MSTRUSDT	+0.0382%	8h	162.66	−0.080%	$16.8M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0711%	4h	162.63	−0.099%	$45K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1103%	1h	162.84	+0.031%	$277K	$437K	10x	as long as short