Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.038%

Price spread now: Aster against Vest−0.207%7-day average +0.907% · you buy dearer than you sell

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

Long on Vest Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now −0.207%, 7d avg +0.907%

Together, before fees−0.065%+ Points / potential airdropVest: Active · Aster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 1.115% cheaper against Vest than usual: you would sell low and buy high (−$111 if the spread goes back to its 7-day average of +0.907%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSTR-USD-PERP	169.56	0.0046	pay 0.0006% / 1h	2m 00s	—	$2.1M	25x
Short	Aster MSTRUSDT	169.21	0	get 0.0000% / 8h	2m 00s	$1.3M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Vest. 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 VestbpFee AsterbpOrdersPrice spread, now −0.207%Rate

Funding earned: −$9.59
Price spread: −0.207% → +0.907%: −$111.47
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Aster: 4 bp × 2 orders: −$8
Net: −$131.06
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; 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 Vest no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	1.18 bp	5.6 bp −$6	200.4 bp −$2,004	doesn't fit	doesn't fit

Vest: 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	−0.0043%	1h	169.36	−0.120%	$140K	$97K	3x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.21	−0.207%	$1.3M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	169.49	−0.041%	$21.9M	$106.4M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.37	−0.112%	$4.7M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.00	−0.329%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.22	−0.201%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.41	−0.088%	$276K	$441K	10x	as long as short
Bitget MSTRUSDT	+0.0030%	8h	169.48	−0.047%	$28.8M	$119.8M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0030%	8h	169.13	−0.254%	$77K	$871K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.41	−0.088%	$3.6M	$2.4M	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	169.30	−0.151%	$581K	$1.8M	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	169.56	long leg	—	$2.1M	25x
QFEX MSTR-USD	+0.0049%	1h	169.35	−0.124%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.36	−0.118%	$399K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.41	−0.088%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.29	−0.159%	$773K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0052%	8h	169.45	−0.063%	$89.4M	$628.5M	50x	as long as short
Bybit MSTRUSDT	+0.0062%	8h	169.47	−0.053%	$15.2M	$40.3M	50x	as long as short
BloFin MSTR-USDT	+0.0064%	8h	169.50	−0.035%	$1.1M	$1.9M	20x	as long as short
Paradex MSTR-USD-PERP	+0.0096%	8h	169.40	−0.094%	$68	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.478%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.36	−0.120%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.25	−0.183%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.295%	$4K	$244K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.38	−0.106%	$3K	$10K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	−0.401%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.38	−0.108%	$141	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0124%	1h	169.40	−0.094%	$57.2M	$36.9M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.09	−0.280%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0382%	4h	169.04	−0.304%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0400%	1h	169.46	−0.059%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.45	−0.065%	$27K	$129K	10x	as long as short