Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.119%

Price spread now: GRVT against RISEx+0.332%55s7-day average +0.009% · you sell dearer than you buy

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−$350.348% of the position

Long on RISEx Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.297%−$30 on $10k

Price spread, last 4 days (all we have)+0.551%+$55 · spread now +0.332%, 7d avg +0.009%

Together, before fees+0.254%+ Points / potential airdropGRVT: Active · farm board+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.323% dearer against RISEx than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 55 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	165.00	0	get 0.0000% / 1h	46m 30s	$270K	$436K	10x
Short	GRVT MSTR_USDT_Perp	165.55	0	get 0.0000% / 8h	6h 46m	$76K	$809K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.332%Rate

Funding earned: $0
Price spread: +0.332% → +0.009%: $32.29
Slippage, 4 orders: −$19.8
Fee RISEx: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$2.51
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from RISEx: live order book, 22 min ago; GRVT: live order book, 21 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, 22 min ago	1.50 bp	4.5 bp −$4	6.8 bp −$68	doesn't fit	doesn't fit
Sell GRVT live order book, 21 min ago	3.60 bp	13.2 bp −$13	18.1 bp −$181	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	−0.0440%	8h	165.11	+0.067%	$27.2M	$115.5M	25x	as long as short
Gate MSTR_USDT	−0.0326%	8h	165.01	+0.006%	$4.6M	$18.7M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.01	+0.003%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	164.99	−0.006%	$87.1M	$624.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.96	−0.024%	$21.1M	$100.2M	50x	as long as short
RISEx MSTR/USDClong	0.0000%	1h	165.00	long leg	$270K	$436K	10x
Variational Omni MSTR	0.0000%	8h	165.36	+0.218%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perpshort	0.0000%	8h	165.55	+0.332%	$76K	$809K	10x
Phemex MSTRUSDT	0.0000%	4h	165.77	+0.467%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.333%	$1.1M	$1.9M	20x	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	164.80	−0.121%	$568K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.39	+0.236%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.75	−0.152%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.09	+0.055%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.15	+0.091%	$799K	$4.8M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.97	−0.018%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.04	+0.023%	$102K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.90	−0.061%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.35	+0.212%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.00	0.000%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.00	−0.001%	$137	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0121%	1h	164.94	−0.036%	$385K	$2.7M	10x	as long as short
Lighter MSTR	+0.0136%	1h	164.94	−0.036%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0146%	8h	164.96	−0.026%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.21	+0.127%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.630%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0343%	1h	164.96	−0.024%	$55.7M	$36.4M	10x	as long as short
edgeX MSTRUSDC	+0.0361%	4h	165.49	+0.297%	$47K	$5.5M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	165.41	+0.250%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0403%	1h	164.82	−0.108%	$134K	$129K	3x	as long as short
Bybit MSTRUSDT	+0.0408%	8h	165.04	+0.024%	$17.2M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1145%	1h	165.08	+0.048%	$281K	$438K	10x	as long as short