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Funding arb · Price arb /

MSTR

RWAall MSTR markets
SwapBacktest
Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0594%/8h= +65.0% APRpaid last 24h +0.029%
Price spread now: Bybit against SoDEX+0.049%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on SoDEXShort on Bybit
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
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Bybit is 0.049% dearer against SoDEX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX MSTR-USD163.370.0050pay 0.0006% / 1h47m 05s$43K$3K10x
ShortBybit MSTRUSDT163.450.0644get 0.0644% / 8h7h 47m$17.1M$41.3M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$124.7
Price spread: +0.049% → 0.000%
$4.9
Slippage, 4 orders
no order book: not counted
Fee SoDEX: 4 bp × 2 orders
−$8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$110.6
Costs to cover
0.190%
Break-even
0.8 days
Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SoDEX no order-book sample—————
Sell Bybit live order book, 2 min ago1.53 bp9.7 bp −$1016.9 bp −$169113.6 bp −$11.4Kdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0224%8h163.51+0.086%$30.1M$118.5M25xas long as short
Phemex MSTRUSDT0.0000%4h163.36−0.006%$2.7M$85K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.27−0.062%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.654%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.58+0.129%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.42+0.031%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.23−0.086%$377K$2.7M10xas long as short
SoDEX MSTR-USDlong+0.0050%1h163.37long leg$43K$3K10x
Ondo Perps MSTR-USD.P+0.0050%1h163.39+0.012%$892K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.51+0.086%$1.3M$7.0M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate MSTR_USDT+0.0088%8h163.52+0.092%$4.7M$18.4M50xas long as short
Pacifica MSTR+0.0100%1h163.48+0.068%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.47+0.061%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.36−0.006%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.40+0.018%$3K$13K10xas long as short
Lighter MSTR+0.0104%1h163.38+0.006%$3.5M$1.7M10xas long as short
Aevo MSTR-PERP+0.0104%1h163.39+0.012%$136—10xas long as short
Aster MSTRUSDT+0.0117%8h163.54+0.106%$1.8M$8.7M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.459%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0159%8h163.53+0.098%$65—5xas long as short
Nado MSTR-PERP+0.0162%1h163.27−0.063%$125K$165K3xas long as short
Variational Omni MSTR+0.0218%8h163.95+0.354%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0224%8h163.43+0.037%$20.9M$99.3M50xas long as short
Binance MSTRUSDT+0.0315%8h163.41+0.024%$84.2M$619.0M50xas long as short
RISEx MSTR/USDC+0.0400%1h163.53+0.099%$269K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0418%1h163.46+0.055%$53.9M$37.5M10xas long as short
BloFin MSTR-USDT+0.0435%8h163.41+0.024%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.65+0.170%$56K$223K10xas long as short
edgeX MSTRUSDC+0.0570%4h163.65+0.172%$47K$5.4M10xas long as short
Bybit MSTRUSDTshort+0.0644%8h163.45+0.049%$17.1M$41.3M50x
Deribit MSTR_USDC-PERPETUAL+0.0976%1h163.33−0.024%$278K$432K10xas long as short
GRVT MSTR_USDT_Perp+0.1038%8h163.62+0.155%$80K$848K10xas long as short