Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.068%

Price spread now: Phemex against tradeXYZ+0.089%7-day average +0.068% · you sell dearer than you buy

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

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.348%−$35 on $10k

Price spread, last 3 days (all we have)−0.121%−$12 · spread now +0.089%, 7d avg +0.068%

Together, before fees−0.469%+ Points / potential airdroptradeXYZ: Active · farm board−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.020% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.068%): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	168.79	0.0206	pay 0.0026% / 1h	24m 31s	$56.9M	$35.2M	10x
Short	Phemex MSTRUSDT	168.94	0	get 0.0000% / 4h	3h 24m	$2.9M	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$43.32
Price spread: +0.089% → +0.068%: $2.04
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$71.28
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 5 min ago; Phemex: live order book, 4 min ago. 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, 5 min ago	0.30 bp	9.3 bp −$9	9.3 bp −$93	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.96 bp	doesn't fit	doesn't fit	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
Nado MSTR-PERP	−0.0033%	1h	168.72	−0.039%	$139K	$84K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.85	+0.036%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.77	−0.012%	$21.7M	$100.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.78	−0.006%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.86	+0.041%	$28.2M	$113.5M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.83	+0.022%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.67	−0.071%	$85K	$825K	10x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	168.94	+0.089%	$2.9M	$67K	10x
Binance MSTRUSDT	+0.0023%	8h	168.86	+0.039%	$89.0M	$614.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.76	−0.018%	$3.6M	$2.0M	10x	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	168.63	−0.092%	$579K	$1.8M	10x	as long as short
Bybit MSTRUSDT	+0.0035%	8h	168.85	+0.036%	$15.1M	$39.2M	50x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.73	−0.036%	$1.4M	$9.1M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.83	+0.024%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.83	+0.024%	—	$1.7M	25x	as long as short
BloFin MSTR-USDT	+0.0047%	8h	168.89	+0.059%	$1.1M	$1.9M	20x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.76	−0.018%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.84	+0.030%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.44	−0.207%	$736K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.196%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0092%	8h	168.78	−0.008%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.80	+0.004%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.74	−0.030%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.68	−0.065%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.82	+0.018%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.78	−0.006%	$140	—	10x	as long as short
edgeX MSTRUSDC	+0.0166%	4h	168.67	−0.069%	$47K	$5.5M	10x	as long as short
tradeXYZ xyz:MSTRlong	+0.0206%	1h	168.79	long leg	$56.9M	$35.2M	10x
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.326%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.64	−0.091%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.83	+0.026%	$275K	$433K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0936%	1h	168.83	+0.024%	$287K	$438K	10x	as long as short