Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1205%/8h= −132.0% APRpaid last 24h −0.076%

Price spread now: Bitget against Arcus−0.228%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Arcus Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now −0.228%, 7d avg +0.006%

Together, before fees+0.187%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and Bitget is 0.234% cheaper against Arcus than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.091% in total (about -9.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	162.44	0.0040	pay 0.0005% / 1h	27m 55s	$26K	$109K	10x
Short	Bitget MSTRUSDT	162.07	−0.1165	pay 0.1165% / 8h	2h 27m	$26.9M	$117.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Arcus. 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 ArcusbpFee BitgetbpOrdersPrice spread, now −0.228%Rate

Funding earned: −$253.11
Price spread: −0.228% → +0.006%: −$23.42
Slippage, 4 orders: −$26.28
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$319.31
Costs to cover: 0.428%
Break-even: never at this rate

Slippage from Arcus: live order book, 20 min ago; Bitget: live order book, 1 min ago.

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 Arcus live order book, 20 min ago	7.32 bp	11.1 bp −$11	43.1 bp −$431	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.31 bp	11.8 bp −$12	27.5 bp −$275	49.1 bp −$4,914	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
Bitget MSTRUSDTshort	−0.1165%	8h	162.07	−0.228%	$26.9M	$117.8M	25x
Aster MSTRUSDT	0.0000%	8h	161.78	−0.405%	$1.7M	$8.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	161.98	−0.283%	$4.6M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.30	−0.086%	$2.7M	$77K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	161.68	−0.471%	$497K	$2.0M	10x	as long as short
Vest MSTR-USD-PERP	+0.0033%	1h	161.61	−0.511%	—	$1.8M	25x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.248%	$8K	$26K	30x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	162.44	long leg	$26K	$109K	10x
Polymarket Perps MSTR-USD	+0.0050%	1h	161.89	−0.339%	$374K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	161.89	−0.339%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.18	−0.160%	$867K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	161.94	−0.308%	$1.4M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	161.95	−0.302%	$263K	$443K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0092%	8h	161.82	−0.382%	$20.4M	$99.5M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	161.98	−0.283%	$99K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	161.71	−0.449%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.29	−0.092%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	161.83	−0.376%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	161.87	−0.348%	$134	—	10x	as long as short
Variational Omni MSTR	+0.0124%	8h	162.32	−0.074%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0149%	8h	161.92	−0.320%	$65	—	5x	as long as short
Lighter MSTR	+0.0160%	1h	161.83	−0.376%	$3.4M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.81	−0.388%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0197%	8h	161.77	−0.412%	$83.5M	$627.7M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0210%	8h	162.40	−0.022%	$79K	$831K	10x	as long as short
BloFin MSTR-USDT	+0.0317%	8h	162.23	−0.129%	$1.0M	$2.1M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0350%	1h	161.81	−0.388%	$53.8M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0362%	1h	162.41	−0.018%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0370%	8h	161.87	−0.351%	$16.4M	$41.6M	50x	as long as short
Nado MSTR-PERP	+0.0376%	1h	161.93	−0.311%	$129K	$157K	3x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0430%	1h	161.77	−0.412%	$275K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0858%	4h	162.53	+0.056%	$48K	$5.4M	10x	as long as short