Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0699%/8h= +76.6% APRpaid last 24h +0.175%

Price spread now: Deribit against Variational Omni−0.023%7-day average +0.024% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.502%+$50 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.023%, 7d avg +0.024%

Together, before fees+0.618%+ Points / potential airdropVariational Omni: Active · farm board+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.047% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.024%). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$21 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	168.74	0	get 0.0000% / 8h	7h 39m	$1.2M	$2.1M	—
Short	Deribit MSTR_USDC-PERPETUAL	168.70	0.0699	get 0.0087% / 1h	39m 00s	$287K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.023%Rate

Funding earned: $146.86
Price spread: −0.023% → +0.024%: −$4.68
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $135.17
Costs to cover: 0.070%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, just now; Deribit: live order book, 35 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, just now	2.96 bp	doesn't fit	11.4 bp −$114	doesn't fit	doesn't fit
Sell Deribit live order book, 35 min ago	7.40 bp	11.5 bp −$11	14.6 bp −$146	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	−0.0077%	1h	168.68	−0.032%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.68	−0.034%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.59	−0.088%	$21.7M	$102.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.67	−0.041%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.72	−0.011%	$28.5M	$114.2M	25x	as long as short
Variational Omni MSTRlong	0.0000%	8h	168.74	long leg	$1.2M	$2.1M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	168.93	+0.116%	$85K	$860K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.78	+0.024%	$2.8M	$66K	10x	as long as short
Bybit MSTRUSDT	+0.0004%	8h	168.64	−0.059%	$15.1M	$39.4M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.64	−0.059%	$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	168.43	−0.183%	$583K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.80	+0.036%	$1.4M	$9.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.93	+0.113%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.78	+0.024%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.72	−0.011%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.67	−0.041%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.67	−0.041%	$743K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0059%	8h	168.65	−0.053%	$88.9M	$617.5M	50x	as long as short
BloFin MSTR-USDT	+0.0085%	8h	168.71	−0.017%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.165%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0088%	8h	168.82	+0.047%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.83	+0.055%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.68	−0.035%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.63	−0.065%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.79	+0.030%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.76	+0.012%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0190%	1h	168.61	−0.076%	$56.9M	$35.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.356%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.69	−0.029%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.84	+0.060%	$275K	$434K	10x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0699%	1h	168.70	−0.023%	$287K	$438K	10x
edgeX MSTRUSDC	+0.0894%	4h	168.75	+0.007%	$47K	$5.5M	10x	as long as short