Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.011%

Price spread now: GRVT against Vest+0.065%7-day average +1.156% · you sell dearer than you buy

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

Long on Vest Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 3 days (all we have)−0.166%−$17 · spread now +0.065%, 7d avg +1.156%

Together, before fees−0.160%+ Points / potential airdropVest: Active · GRVT: Active · farm board−$16 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 GRVT is 1.091% cheaper against Vest than usual: you would sell low and buy high (−$109 if the spread goes back to its 7-day average of +1.156%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSTR-USD-PERP	168.58	0.0046	pay 0.0006% / 1h	36m 40s	—	$1.7M	25x
Short	GRVT MSTR_USDT_Perp	168.69	0	get 0.0000% / 8h	7h 36m	$85K	$860K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$9.59
Price spread: +0.065% → +1.156%: −$109.07
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$129.67
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; GRVT: live order book, 36 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 GRVT live order book, 36 min ago	0.89 bp	9.5 bp −$9	14.8 bp −$148	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	−0.0074%	1h	168.45	−0.076%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.66	+0.050%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.72	+0.083%	$21.7M	$101.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.73	+0.089%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.77	+0.113%	$28.5M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.74	+0.094%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perpshort	0.0000%	8h	168.69	+0.065%	$85K	$860K	10x
Phemex MSTRUSDT	0.0000%	4h	168.79	+0.125%	$2.8M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.60	+0.012%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.51	−0.039%	$581K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0035%	1h	168.70	+0.071%	$1.4M	$9.5M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.79	+0.125%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	168.58	long leg	—	$1.7M	25x
Bybit MSTRUSDT	+0.0049%	8h	168.68	+0.059%	$15.1M	$39.3M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.58	0.000%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.58	0.000%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.51	−0.042%	$761K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0053%	8h	168.70	+0.074%	$89.0M	$616.4M	50x	as long as short
BloFin MSTR-USDT	+0.0056%	8h	168.73	+0.089%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.071%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.68	+0.059%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.67	+0.053%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.67	+0.053%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.65	+0.042%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.69	+0.065%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.65	+0.039%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	168.67	+0.053%	$56.9M	$35.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.451%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.74	+0.094%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.72	+0.083%	$275K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0572%	4h	168.81	+0.138%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0996%	1h	168.81	+0.136%	$287K	$438K	10x	as long as short