Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.092%

Price spread now: Orderly against RISEx−0.006%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	164.96	0	get 0.0000% / 1h	45m 36s	$270K	$436K	10x
Short	Orderly PERP_MSTR_USDC_mythos	164.95	0.0100	get 0.0100% / 8h	6h 45m	$3K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.006%Rate

Funding earned: $21
Price spread: −0.006% → 0.000%: −$0.61
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $8.39
Costs to cover: 0.120%
Break-even: 4.2 days

Slippage unknown: RISEx: live order book, 23 min ago; Orderly: no order-book sample. Net counts fees only.

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, 23 min ago	1.50 bp	4.5 bp −$4	6.8 bp −$68	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0475%	8h	165.04	+0.048%	$27.2M	$115.6M	25x	as long as short
Gate MSTR_USDT	−0.0317%	8h	164.92	−0.024%	$4.6M	$18.8M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.79	−0.104%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	164.87	−0.055%	$87.1M	$624.3M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.94	−0.012%	$21.1M	$100.2M	50x	as long as short
RISEx MSTR/USDClong	0.0000%	1h	164.96	long leg	$270K	$436K	10x
Variational Omni MSTR	0.0000%	8h	164.99	+0.021%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	165.55	+0.357%	$76K	$809K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.49	+0.321%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.358%	$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	164.70	−0.158%	$568K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.27	+0.188%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.75	−0.127%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.99	+0.018%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.78	−0.109%	$799K	$4.8M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.93	−0.018%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.90	−0.038%	$102K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.73	−0.139%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.35	+0.236%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	164.95	−0.006%	$3K	$7K	10x
Aevo MSTR-PERP	+0.0104%	1h	164.95	−0.007%	$137	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0121%	1h	164.94	−0.012%	$385K	$2.7M	10x	as long as short
Lighter MSTR	+0.0128%	1h	164.75	−0.127%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0150%	8h	164.81	−0.090%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.21	+0.152%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.655%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0354%	1h	164.82	−0.085%	$55.7M	$36.5M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	165.41	+0.274%	$55K	$219K	10x	as long as short
edgeX MSTRUSDC	+0.0389%	4h	165.28	+0.196%	$47K	$5.5M	10x	as long as short
Nado MSTR-PERP	+0.0403%	1h	164.82	−0.084%	$134K	$129K	3x	as long as short
Bybit MSTRUSDT	+0.0429%	8h	164.94	−0.012%	$17.2M	$41.1M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1146%	1h	165.03	+0.042%	$281K	$438K	10x	as long as short