Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.054%

Price spread now: Ondo Perps against tradeXYZ−0.054%7-day average −0.014% · you buy dearer than you sell

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

Long on tradeXYZ Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 7 days−0.137%−$14 · spread now −0.054%, 7d avg −0.014%

Together, before fees−0.239%+ Points / potential airdroptradeXYZ: Active · Ondo Perps: Active · farm board−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.041% cheaper against tradeXYZ than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	165.21	0.0051	pay 0.0006% / 1h	2m 04s	$55.0M	$36.8M	10x
Short	Ondo Perps MSTR-USD.P	165.12	0.0050	get 0.0006% / 1h	2m 04s	$871K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$0.07
Price spread: −0.054% → −0.014%: −$4.05
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$27.13
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 7 min ago; Ondo Perps: 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 tradeXYZ live order book, 7 min ago	0.91 bp	10.3 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget MSTRUSDT	−0.0835%	8h	165.42	+0.127%	$27.7M	$114.7M	25x	as long as short
Gate MSTR_USDT	−0.0025%	8h	165.32	+0.067%	$4.6M	$18.8M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.13	−0.046%	$1.8M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.34	+0.079%	$20.7M	$100.0M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.46	+0.151%	$2.8M	$73K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.20	−0.006%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.10	−0.064%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.500%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.25	+0.026%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.36	+0.091%	$27K	$110K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.33	+0.073%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.24	+0.018%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.25	+0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	165.12	−0.054%	$871K	$4.1M	10x
tradeXYZ xyz:MSTRlong	+0.0051%	1h	165.21	long leg	$55.0M	$36.8M	10x
QFEX MSTR-USD	+0.0060%	1h	165.34	+0.079%	$1.4M	$7.5M	10x	as long as short
Binance MSTRUSDT	+0.0099%	8h	165.33	+0.073%	$87.9M	$616.8M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	165.31	+0.063%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.18	−0.018%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.21	0.000%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.17	−0.024%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.15	−0.037%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0125%	8h	165.37	+0.099%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0135%	8h	165.31	+0.062%	$79K	$758K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.95	−0.157%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0211%	1h	165.16	−0.029%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0221%	8h	165.23	+0.012%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.39	+0.109%	$270K	$448K	10x	as long as short
Bybit MSTRUSDT	+0.0335%	8h	165.41	+0.121%	$17.2M	$40.6M	50x	as long as short
Phoenix MSTR	+0.0336%	1h	165.29	+0.051%	$56K	$227K	10x	as long as short
edgeX MSTRUSDC	+0.0644%	4h	165.17	−0.023%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0779%	1h	165.31	+0.061%	$281K	$438K	10x	as long as short