Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0342%/8h= −37.5% APRpaid last 24h +0.012%

Price spread now: BloFin against tradeXYZ+1.031%668s7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.346% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 3 days (all we have)−1.072%−$107 · spread now +1.031%, 7d avg +0.060%

Together, before fees−0.957%+ Points / potential airdroptradeXYZ: Active · farm board−$96 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.971% dearer against tradeXYZ than usual: you sell high and buy low (spread +1.031% now, against its 7-day average of +0.060%): +$97 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 9.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.115%, so the current rate has only just turned against you. The two prices were read 668 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.115% in total (about 6.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	163.86	0.0353	pay 0.0044% / 1h	38m 02s	$55.2M	$36.3M	10x
Short	BloFin MSTR-USDT	165.55	0.0011	get 0.0011% / 8h	6h 38m	$1.1M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +1.031%Rate

Funding earned: −$71.85
Price spread: +1.031% → +0.060%: $97.09
Slippage, 4 orders: −$4.57
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$9.32
Costs to cover: 0.346%
Break-even: from the start

Slippage from tradeXYZ: live order book, 11 min ago; BloFin: live order book, 15 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 tradeXYZ live order book, 11 min ago	0.61 bp	10.2 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell BloFin live order book, 15 min ago	0.91 bp	7.6 bp −$8	9.7 bp −$97	25.4 bp −$2,538	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	−0.0760%	8h	164.04	+0.110%	$27.0M	$116.0M	25x	as long as short
Gate MSTR_USDT	−0.0265%	8h	163.84	−0.012%	$4.6M	$18.9M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	163.95	+0.054%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.01	+0.092%	$20.8M	$100.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.07	+0.128%	$269K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.35	+0.299%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.41	+0.336%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.41	+0.336%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDTshort	+0.0011%	8h	165.55	+1.031%	$1.1M	$1.9M	20x
Binance MSTRUSDT	+0.0017%	8h	163.95	+0.052%	$87.1M	$626.8M	50x	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	163.69	−0.101%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.31	+0.275%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.83	−0.018%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.84	−0.012%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.86	0.000%	$884K	$4.8M	10x	as long as short
edgeX MSTRUSDC	+0.0056%	4h	165.04	+0.719%	$47K	$5.4M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.10	+0.146%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.10	+0.148%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.82	−0.024%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.64	+0.476%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.92	+0.037%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.87	+0.006%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0123%	1h	163.98	+0.073%	$380K	$2.7M	10x	as long as short
Lighter MSTR	+0.0128%	1h	163.79	−0.043%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0164%	8h	164.02	+0.099%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.04	+0.110%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.344%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTRlong	+0.0353%	1h	163.86	long leg	$55.2M	$36.3M	10x
Phoenix MSTR	+0.0381%	1h	164.58	+0.441%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0410%	1h	163.89	+0.017%	$111K	$142K	3x	as long as short
Bybit MSTRUSDT	+0.0426%	8h	164.05	+0.116%	$17.2M	$41.3M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0666%	1h	163.87	+0.006%	$279K	$438K	10x	as long as short