Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.011%

Price spread now: SoDEX against Aster−0.099%7-day average — · you buy dearer than you sell

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

Long on Aster Short on SoDEX

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.099% cheaper against Aster than usual: you would sell low and buy high (spread −0.099% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 5.3 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	Aster MSTRUSDT	164.83	0	get 0.0000% / 8h	6h 17m	$1.2M	$6.1M	50x
Short	SoDEX MSTR-USD	164.67	0.0062	get 0.0008% / 1h	17m 37s	$43K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.099%Rate

Funding earned: $13.04
Price spread: −0.099% → 0.000%: −$9.94
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.9
Costs to cover: 0.160%
Break-even: 13.9 days

Slippage unknown: Aster: live order book, 1 min ago; SoDEX: 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 Aster live order book, 1 min ago	1.22 bp	6.4 bp −$6	136.4 bp −$1,364	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.1071%	8h	165.02	+0.113%	$27.6M	$115.8M	25x	as long as short
Gate MSTR_USDT	−0.0171%	8h	164.87	+0.022%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	164.83	long leg	$1.2M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	164.87	+0.022%	$20.9M	$100.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.83	−0.002%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.70	−0.078%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.07	+0.143%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.68	−0.093%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.83	−0.002%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.61	−0.136%	—	$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	164.90	+0.040%	$910K	$4.5M	10x	as long as short
SoDEX MSTR-USDshort	+0.0062%	1h	164.67	−0.099%	$43K	$3K	10x
Lighter MSTR	+0.0064%	1h	164.83	−0.002%	$3.5M	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.89	+0.034%	$1.4M	$8.1M	10x	as long as short
Binance MSTRUSDT	+0.0065%	8h	164.92	+0.051%	$87.9M	$624.2M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0090%	1h	164.62	−0.130%	$384K	$2.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.87	+0.019%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.73	−0.063%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	−0.166%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.65	−0.112%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.77	−0.039%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	165.00	+0.100%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.40	−0.263%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0176%	8h	164.86	+0.018%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0240%	1h	164.82	−0.008%	$55.2M	$36.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.734%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0366%	1h	164.47	−0.219%	$111K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.70	−0.084%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0391%	8h	164.95	+0.070%	$17.1M	$41.2M	50x	as long as short
edgeX MSTRUSDC	+0.0596%	4h	164.80	−0.022%	$48K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1449%	1h	165.08	+0.149%	$281K	$438K	10x	as long as short