Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Aster against Variational Omni−0.080%7-day average −0.034% · you buy dearer than you sell

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

Long on Variational Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days+0.150%+$15 · spread now −0.080%, 7d avg −0.034%

Together, before fees+0.139%+ Points / potential airdropVariational Omni: Active · Aster: Stage 5 · farm board+$14 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: Aster is 0.046% cheaper against Variational Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	169.08	0	get 0.0000% / 8h	31m 55s	$1.2M	$2.4M	—
Short	Aster MSTRUSDT	168.94	0	get 0.0000% / 8h	31m 55s	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Variational Omni. 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 Variational OmnibpFee AsterbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.034%: −$4.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$12.6
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Aster: live order book, 2 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 Variational Omni RFQ quote, 2 min ago	2.96 bp	doesn't fit	13.4 bp −$134	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	2.37 bp	9.8 bp −$10	262.9 bp −$2,629	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
Aster MSTRUSDTshort	0.0000%	8h	168.94	−0.080%	$1.2M	$6.1M	50x
Gate MSTR_USDT	0.0000%	8h	168.99	−0.051%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTRlong	0.0000%	8h	169.08	long leg	$1.2M	$2.4M	—
Phemex MSTRUSDT	0.0000%	4h	169.06	−0.009%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.02	−0.033%	$275K	$441K	10x	as long as short
Nado MSTR-PERP	+0.0010%	1h	168.86	−0.128%	$139K	$97K	3x	as long as short
OKX MSTR-USDT-SWAP	+0.0018%	8h	169.00	−0.045%	$22.0M	$106.2M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.86	−0.126%	$583K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.05	−0.015%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.98	−0.057%	$1.5M	$10.2M	10x	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	168.95	−0.074%	$390K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.95	−0.074%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.70	−0.222%	$780K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0054%	8h	168.99	−0.051%	$28.7M	$119.9M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0054%	8h	169.12	+0.027%	$77K	$879K	10x	as long as short
Binance MSTRUSDT	+0.0063%	8h	168.99	−0.051%	$88.9M	$628.8M	50x	as long as short
Lighter MSTR	+0.0064%	1h	168.93	−0.086%	$3.6M	$2.4M	10x	as long as short
BloFin MSTR-USDT	+0.0066%	8h	168.94	−0.080%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.96	−0.068%	$1.4M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0099%	8h	169.00	−0.045%	$15.1M	$40.4M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	168.95	−0.074%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.92	−0.092%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.05	−0.015%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.93	−0.086%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.21	+0.080%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.96	−0.069%	$140	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0131%	8h	168.93	−0.087%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	168.99	−0.051%	$57.1M	$37.2M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.07	−0.006%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0266%	4h	169.16	+0.050%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0638%	1h	169.06	−0.009%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.09	+0.009%	$27K	$129K	10x	as long as short