Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h −0.082%

Price spread now: Orderly against Arcus−0.103%7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.103% cheaper against Arcus than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 5.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	164.78	0.0040	pay 0.0005% / 1h	18m 34s	$26K	$113K	10x
Short	Orderly PERP_MSTR_USDC_mythos	164.61	0.0100	get 0.0100% / 8h	6h 18m	$3K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.103%Rate

Funding earned: $12.54
Price spread: −0.103% → 0.000%: −$10.32
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$8.28
Costs to cover: 0.105%
Break-even: 11.6 days

Slippage unknown: Arcus: live order book, 49 min ago; Orderly: no order-book sample. 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 Arcus live order book, 49 min ago	10.18 bp	13.2 bp −$13	43.6 bp −$436	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 31 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 MSTRUSDT	−0.1067%	8h	164.86	+0.049%	$27.5M	$115.5M	25x	as long as short
Gate MSTR_USDT	−0.0166%	8h	164.76	−0.012%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.72	−0.034%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.68	−0.061%	$20.9M	$100.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.65	−0.079%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.70	−0.046%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.72	−0.036%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.57	−0.124%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	164.78	long leg	$26K	$113K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	164.61	−0.103%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.48	−0.182%	$910K	$4.5M	10x	as long as short
SoDEX MSTR-USD	+0.0052%	1h	164.57	−0.127%	$43K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0063%	8h	164.68	−0.061%	$87.8M	$623.7M	50x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.75	−0.018%	$1.4M	$8.1M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.64	−0.085%	$3.5M	$1.9M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0090%	1h	164.62	−0.097%	$384K	$2.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.73	−0.031%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.66	−0.073%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	−0.134%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	164.61	−0.103%	$3K	$8K	10x
Aevo MSTR-PERP	+0.0104%	1h	164.60	−0.109%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	165.00	+0.133%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.40	−0.231%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0175%	8h	164.73	−0.029%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0244%	1h	164.67	−0.067%	$55.2M	$36.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.767%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0366%	1h	164.47	−0.186%	$111K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.70	−0.051%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0386%	8h	164.70	−0.049%	$17.1M	$41.1M	50x	as long as short
edgeX MSTRUSDC	+0.0596%	4h	164.80	+0.011%	$48K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0966%	1h	164.67	−0.067%	$280K	$438K	10x	as long as short