Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.053%

Price spread now: OKX against RISEx+0.021%7-day average −0.013% · 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−$18as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.290%−$29 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.021%, 7d avg −0.013%

Together, before fees−0.367%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.034% dearer against RISEx than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.013%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	163.18	0.0381	pay 0.0048% / 1h	48m 37s	$262K	$437K	10x
Short	OKX MSTR-USDT-SWAP	163.21	0.0124	get 0.0124% / 8h	1h 48m	$20.7M	$100.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$54.04
Price spread: +0.021% → −0.013%: $3.43
Slippage, 4 orders: −$5.31
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$71.92
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from RISEx: live order book, 60 min ago; OKX: live order book, 5 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, 60 min ago	0.31 bp	3.3 bp −$3	4.5 bp −$45	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.31 bp	6.2 bp −$6	12.2 bp −$122	64.5 bp −$6,451	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	−0.0883%	8h	163.41	+0.144%	$28.7M	$119.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.27	+0.058%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.30	+0.077%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0020%	8h	163.26	+0.051%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.01	−0.101%	$503K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.778%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.33	+0.095%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.01	−0.101%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.14	−0.021%	$377K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.11	−0.040%	$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	162.98	−0.120%	$842K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	163.24	+0.040%	$1.3M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.17	−0.001%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.21	+0.021%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.11	−0.040%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.16	−0.009%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.16	−0.007%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAPshort	+0.0124%	8h	163.21	+0.021%	$20.7M	$100.5M	50x
Variational Omni MSTR	+0.0143%	8h	163.26	+0.051%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0145%	8h	163.20	+0.015%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−1.014%	$1.4M	$1.1M	10x	as long as short
Lighter MSTR	+0.0184%	1h	163.19	+0.009%	$3.5M	$2.0M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0202%	1h	163.14	−0.021%	$54.1M	$37.3M	10x	as long as short
Binance MSTRUSDT	+0.0220%	8h	163.24	+0.040%	$83.8M	$628.6M	50x	as long as short
edgeX MSTRUSDC	+0.0223%	4h	163.25	+0.046%	$46K	$5.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0230%	8h	163.31	+0.083%	$79K	$876K	10x	as long as short
Nado MSTR-PERP	+0.0302%	1h	163.03	−0.086%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0328%	1h	163.31	+0.082%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0340%	8h	163.14	−0.021%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	163.29	+0.070%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDClong	+0.0381%	1h	163.18	long leg	$262K	$437K	10x
Deribit MSTR_USDC-PERPETUAL	+0.0854%	1h	163.17	−0.003%	$277K	$437K	10x	as long as short