Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0850%/8h= −93.1% APRpaid last 24h +0.024%

Price spread now: Binance against SoDEX−0.001%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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: −$26 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSTR-USD	166.72	0.1238	pay 0.0155% / 1h	2m 05s	$44K	$3K	10x
Short	Binance MSTRUSDT	166.72	0.0387	get 0.0387% / 8h	7h 02m	$87.1M	$590.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now −0.001%Rate

Funding earned: −$178.58
Price spread: −0.001% → 0.000%: −$0.1
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$196.68
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 12 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.30 bp	6.1 bp −$6	8.8 bp −$88	26.9 bp −$2,689	150.6 bp −$75.3K

SoDEX: 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
Gate MSTR_USDT	0.0000%	8h	166.82	+0.060%	$4.9M	$19.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.80	+0.048%	$31.3M	$113.6M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.70	−0.012%	$2.8M	$83K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.59	−0.076%	$544K	$1.8M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−2.465%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.83	+0.066%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.95	+0.138%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.62	−0.060%	$385K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.92	+0.120%	$927K	$3.5M	10x	as long as short
QFEX MSTR-USD	+0.0061%	1h	166.76	+0.024%	$1.3M	$6.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	166.67	−0.029%	$102K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.71	−0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.85	+0.078%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.82	+0.060%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.81	+0.057%	$138	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	166.72	0.000%	$1.4M	$644K	10x	as long as short
Lighter MSTR	+0.0176%	1h	166.68	−0.024%	$3.5M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0179%	1h	166.70	−0.010%	$128K	$143K	3x	as long as short
Paradex MSTR-USD-PERP	+0.0191%	8h	166.71	−0.004%	$67	—	5x	as long as short
Aster MSTRUSDT	+0.0194%	8h	166.79	+0.042%	$1.8M	$8.6M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0279%	8h	166.81	+0.054%	$21.5M	$92.9M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	167.24	+0.310%	$1.2M	$1.8M	—	as long as short
tradeXYZ xyz:MSTR	+0.0365%	1h	166.64	−0.048%	$55.1M	$36.2M	10x	as long as short
Binance MSTRUSDTshort	+0.0387%	8h	166.72	−0.001%	$87.1M	$590.5M	50x
RISEx MSTR/USDC	+0.0400%	1h	166.91	+0.114%	$272K	$387K	10x	as long as short
Phoenix MSTR	+0.0460%	1h	167.10	+0.226%	$57K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0507%	8h	166.93	+0.126%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0559%	8h	166.78	+0.036%	$17.2M	$40.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0590%	1h	166.75	+0.018%	$284K	$289K	10x	as long as short
edgeX MSTRUSDC	+0.0670%	4h	167.12	+0.241%	$49K	$5.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0727%	8h	167.11	+0.234%	$82K	$844K	10x	as long as short
SoDEX MSTR-USDlong	+0.1238%	1h	166.72	long leg	$44K	$3K	10x