Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.031%

Price spread now: Orderly against tradeXYZ0.000%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	168.91	0.0140	pay 0.0017% / 1h	15m 13s	$57.1M	$37.2M	10x
Short	Orderly PERP_MSTR_USDC_mythos	168.91	0.0100	get 0.0100% / 8h	15m 13s	$3K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: −$8.35
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.35
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 4 min ago; 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 tradeXYZ live order book, 4 min ago	0.30 bp	10.1 bp −$10	12.9 bp −$129	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	−0.0042%	1h	168.93	+0.012%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.91	+0.001%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.93	+0.012%	$21.9M	$106.2M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.90	−0.006%	$4.7M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.95	+0.024%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.92	+0.006%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	168.95	+0.024%	$275K	$441K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.87	−0.024%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.86	−0.027%	$581K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0037%	8h	168.95	+0.024%	$28.7M	$120.0M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSTR_USDT_Perp	+0.0037%	8h	168.88	−0.017%	$77K	$871K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.01	+0.059%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.92	+0.006%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.91	0.000%	$395K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.90	−0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.76	−0.089%	$772K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0053%	8h	168.92	+0.006%	$89.1M	$629.3M	50x	as long as short
BloFin MSTR-USDT	+0.0064%	8h	168.91	0.000%	$1.1M	$1.9M	20x	as long as short
Bybit MSTRUSDT	+0.0073%	8h	168.97	+0.036%	$15.1M	$40.4M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.095%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.90	−0.008%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.94	+0.018%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.79	−0.071%	$4K	$311K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	168.91	0.000%	$3K	$11K	10x
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	−0.018%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.93	+0.011%	$140	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0105%	8h	168.92	+0.007%	$68	—	5x	as long as short
tradeXYZ xyz:MSTRlong	+0.0140%	1h	168.91	long leg	$57.1M	$37.2M	10x
Phoenix MSTR	+0.0260%	1h	168.87	−0.027%	$56K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0342%	1h	168.97	+0.036%	$287K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.00	+0.053%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0845%	4h	168.80	−0.064%	$47K	$5.5M	10x	as long as short