Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.017%

Price spread now: Pacifica against Aster+0.039%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$280.285% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.039%, 7d avg −0.001%

Together, before fees+0.046%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Pacifica is 0.039% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	164.37	0	get 0.0000% / 8h	6h 01m	$1.2M	$7.1M	50x
Short	Pacifica MSTR	164.43	0.0100	get 0.0013% / 1h	1m 07s	$101K	$86K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Aster. 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 AsterbpFee PacificabpOrdersPrice spread, now +0.039%Rate

Funding earned: $21
Price spread: +0.039% → −0.001%: $3.92
Slippage, 4 orders: −$12.48
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.56
Costs to cover: 0.285%
Break-even: 8.2 days

Slippage from Aster: live order book, 3 min ago; Pacifica: 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 Aster live order book, 3 min ago	0.30 bp	6.1 bp −$6	6.1 bp −$61	36.7 bp −$3,674	doesn't fit
Sell Pacifica live order book, 1 min ago	0.73 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	−0.1162%	8h	164.56	+0.118%	$27.6M	$114.8M	25x	as long as short
Gate MSTR_USDT	−0.0148%	8h	164.43	+0.039%	$4.6M	$19.2M	50x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	164.37	long leg	$1.2M	$7.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	164.42	+0.033%	$20.8M	$99.3M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.44	+0.045%	$269K	$447K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.52	+0.094%	$2.8M	$69K	10x	as long as short
Variational Omni MSTR	+0.0016%	8h	164.41	+0.025%	$1.2M	$2.0M	—	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.32	−0.025%	$594K	$1.9M	10x	as long as short
Lighter MSTR	+0.0040%	1h	164.38	+0.009%	$3.5M	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.55	+0.112%	$26K	$112K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.38	+0.009%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.38	+0.009%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.39	+0.015%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.33	−0.022%	$895K	$4.4M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.45	+0.051%	$1.4M	$7.9M	10x	as long as short
Binance MSTRUSDT	+0.0086%	8h	164.42	+0.031%	$87.7M	$619.6M	50x	as long as short
Pacifica MSTRshort	+0.0100%	1h	164.43	+0.039%	$101K	$86K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	164.39	+0.015%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.40	+0.021%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.41	+0.027%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.43	+0.042%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0157%	8h	164.38	+0.008%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.31	−0.034%	$1.4M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0185%	1h	164.37	+0.003%	$55.1M	$36.6M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0202%	8h	164.53	+0.101%	$79K	$760K	10x	as long as short
Nado MSTR-PERP	+0.0332%	1h	164.37	+0.002%	$122K	$149K	3x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.026%	$8K	$26K	30x	as long as short
Bybit MSTRUSDT	+0.0355%	8h	164.47	+0.064%	$17.0M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0381%	1h	164.51	+0.085%	$55K	$219K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0541%	1h	164.45	+0.051%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0780%	4h	164.55	+0.112%	$50K	$5.5M	10x	as long as short