Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.027%

Price spread now: Orderly against SoDEX+0.047%7-day average — · you sell dearer than you buy

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

Long on SoDEX 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.047% 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).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSTR-USD	169.22	0.0050	pay 0.0006% / 1h	15m 40s	$44K	$3K	10x
Short	Orderly PERP_MSTR_USDC_mythos	169.30	0.0100	get 0.0100% / 8h	1h 15m	$3K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.047%Rate

Funding earned: $10.5
Price spread: +0.047% → 0.000%: $4.73
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.23
Costs to cover: 0.140%
Break-even: 6.2 days

Slippage unknown: SoDEX: no order-book sample; 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 SoDEX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

SoDEX and 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
Nado MSTR-PERP	−0.0070%	1h	169.18	−0.021%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0019%	8h	169.32	+0.059%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.18	−0.024%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.17	−0.030%	$89.3M	$628.8M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.24	+0.012%	$22.1M	$106.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.22	0.000%	$276K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.19	−0.018%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.35	+0.079%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.35	+0.080%	$83K	$889K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.26	+0.024%	$2.9M	$62K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.17	−0.030%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.10	−0.071%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0034%	8h	169.13	−0.053%	$28.8M	$119.4M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.20	−0.012%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.35	+0.077%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.26	+0.024%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USDlong	+0.0050%	1h	169.22	long leg	$44K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.25	+0.018%	$781K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.331%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0064%	8h	169.19	−0.018%	$15.2M	$40.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0082%	8h	169.15	−0.039%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0094%	1h	169.18	−0.024%	$57.0M	$37.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.18	−0.025%	$104K	$105K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.14	−0.047%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.15	−0.041%	$4K	$481K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	169.30	+0.047%	$3K	$11K	10x
Aevo MSTR-PERP	+0.0104%	1h	169.26	+0.025%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.34	+0.069%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.059%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0348%	4h	169.33	+0.066%	$48K	$5.5M	10x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.28	+0.035%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0459%	1h	169.31	+0.053%	$288K	$439K	10x	as long as short