Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.021%

Price spread now: Pacifica against Variational Omni−0.190%7-day average −0.083% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−1.398%−$140 · spread now −0.190%, 7d avg −0.083%

Together, before fees−1.284%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$128 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.107% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.190% now, against its 7-day average of −0.083%). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	169.53	0	get 0.0000% / 8h	2h 50m	$1.2M	$2.4M	—
Short	Pacifica MSTR	169.21	0.0100	get 0.0013% / 1h	50m 41s	$103K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now −0.190%Rate

Funding earned: $21
Price spread: −0.190% → −0.083%: −$10.67
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $2.33
Costs to cover: 0.080%
Break-even: 6.2 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Pacifica: live order book, 37 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, 3 min ago	2.95 bp	doesn't fit	18.1 bp −$181	doesn't fit	doesn't fit
Sell Pacifica live order book, 37 min ago	1.44 bp	13.6 bp −$14	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	−0.0124%	1h	169.11	−0.248%	$139K	$107K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.21	−0.192%	$1.3M	$6.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.15	−0.227%	$299K	$465K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.18	−0.209%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTRlong	0.0000%	8h	169.53	long leg	$1.2M	$2.4M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	169.46	−0.043%	$83K	$969K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.09	−0.262%	$2.9M	$55K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0022%	8h	169.21	−0.191%	$22.1M	$108.2M	50x	as long as short
Binance MSTRUSDT	+0.0023%	8h	169.21	−0.191%	$89.0M	$630.4M	50x	as long as short
Lighter MSTR	+0.0032%	1h	169.21	−0.191%	$3.6M	$2.6M	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	169.15	−0.228%	$588K	$1.9M	10x	as long as short
BloFin MSTR-USDT	+0.0037%	8h	169.14	−0.232%	$1.1M	$1.8M	20x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.05	−0.286%	$1.5M	$10.2M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0046%	1h	169.22	−0.185%	$288K	$439K	10x	as long as short
Vest MSTR-USD-PERP	+0.0047%	1h	169.29	−0.144%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.250%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.19	−0.203%	$56.9M	$38.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.14	−0.232%	$412K	$2.5M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.07	−0.274%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.09	−0.262%	$735K	$5.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0074%	8h	169.21	−0.192%	$68	—	5x	as long as short
Pacifica MSTRshort	+0.0100%	1h	169.21	−0.190%	$103K	$154K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.25	−0.168%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.28	−0.150%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.22	−0.185%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.23	−0.177%	$140	—	10x	as long as short
Bitget MSTRUSDT	+0.0110%	8h	169.20	−0.197%	$28.8M	$119.7M	25x	as long as short
Bybit MSTRUSDT	+0.0131%	8h	169.24	−0.174%	$15.2M	$41.7M	50x	as long as short
Phoenix MSTR	+0.0184%	1h	169.10	−0.255%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.16	−0.221%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.216%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0735%	4h	169.20	−0.196%	$49K	$5.4M	10x	as long as short