Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0097%/8h= −10.7% APRpaid last 24h −0.038%

Price spread now: GRVT against tradeXYZ+0.052%46s7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as 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−$410.415% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now +0.052%, 7d avg +0.077%

Together, before fees+0.013%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GRVT is 0.025% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.077%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	163.98	0.0263	pay 0.0033% / 1h	18m 41s	$54.6M	$37.1M	10x
Short	GRVT MSTR_USDT_Perp	164.07	0.0166	get 0.0166% / 8h	3h 18m	$76K	$826K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$20.43
Price spread: +0.052% → +0.077%: −$2.47
Slippage, 4 orders: −$14.47
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$64.37
Costs to cover: 0.415%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; GRVT: live order book, 34 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	10.4 bp −$10	13.0 bp −$130	doesn't fit	doesn't fit
Sell GRVT live order book, 34 min ago	1.22 bp	8.2 bp −$8	12.6 bp −$126	doesn't fit	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	−0.0946%	8h	164.12	+0.085%	$27.2M	$116.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	163.96	−0.014%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.04	+0.037%	$4.6M	$19.2M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.15	+0.104%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	163.96	−0.012%	$3.5M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.82	−0.098%	$601K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.269%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.07	+0.055%	$26K	$110K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0045%	8h	164.04	+0.037%	$20.8M	$99.0M	50x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.82	−0.098%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	163.96	−0.012%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.03	+0.030%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.80	−0.110%	$846K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	163.96	−0.012%	$1.4M	$7.3M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0068%	8h	163.97	−0.007%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	163.94	−0.022%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.91	−0.043%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.89	−0.055%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.93	−0.030%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0102%	8h	164.03	+0.028%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.93	−0.031%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0165%	8h	164.00	+0.012%	$86.4M	$618.5M	50x	as long as short
GRVT MSTR_USDT_Perpshort	+0.0166%	8h	164.07	+0.052%	$76K	$826K	10x
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.88	−0.061%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	163.99	+0.003%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	163.95	−0.021%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTRlong	+0.0263%	1h	163.98	long leg	$54.6M	$37.1M	10x
BloFin MSTR-USDT	+0.0284%	8h	164.04	+0.037%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0323%	8h	164.03	+0.030%	$16.6M	$41.1M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.02	+0.022%	$56K	$226K	10x	as long as short
edgeX MSTRUSDC	+0.0400%	4h	163.93	−0.033%	$49K	$5.3M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0788%	1h	164.00	+0.012%	$279K	$438K	10x	as long as short