Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.023%

Price spread now: Nado against Binance−0.010%7-day average −0.056% · 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−$64as in the Price arb table

costs, in and out, $10k−$690.687% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.095%−$9 on $10k

Price spread, last 2 days (all we have)−0.002%$0 · spread now −0.010%, 7d avg −0.056%

Together, before fees−0.097%+ Points / potential airdropNado: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.046% dearer against Binance than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.056%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.5 days. At the pace of the last 3 days (−0.095% in total) that is about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	169.18	0.0067	pay 0.0067% / 8h	37m 53s	$89.1M	$628.9M	50x
Short	Nado MSTR-PERP	169.16	0.0043	get 0.0005% / 1h	37m 53s	$139K	$97K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now −0.010%Rate

Funding earned: −$5
Price spread: −0.010% → −0.056%: $4.62
Slippage, 4 orders: −$51.68
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$69.06
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Nado: live order book, 39 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 Binance live order book, 6 min ago	0.29 bp	6.1 bp −$6	8.7 bp −$87	27.7 bp −$2,771	119.6 bp −$59.8K
Sell Nado live order book, 39 min ago	7.39 bp	25.2 bp −$25	70.9 bp −$709	doesn't fit	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
Aster MSTRUSDT	0.0000%	8h	169.24	+0.038%	$1.3M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.19	+0.006%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.42	+0.144%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.42	+0.142%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.23	+0.030%	$276K	$442K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0023%	8h	169.20	+0.012%	$22.1M	$106.5M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.11	−0.041%	$583K	$1.8M	10x	as long as short
Nado MSTR-PERPshort	+0.0043%	1h	169.16	−0.010%	$139K	$97K	3x
Vest MSTR-USD-PERP	+0.0046%	1h	169.34	+0.095%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.22	+0.024%	$1.5M	$10.2M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	169.19	+0.006%	$389K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.17	−0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.96	−0.130%	$782K	$5.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0053%	8h	169.43	+0.148%	$77K	$879K	10x	as long as short
Bitget MSTRUSDT	+0.0061%	8h	169.17	−0.006%	$28.7M	$120.0M	25x	as long as short
Binance MSTRUSDTlong	+0.0067%	8h	169.18	long leg	$89.1M	$628.9M	50x
BloFin MSTR-USDT	+0.0080%	8h	169.20	+0.012%	$1.1M	$1.8M	20x	as long as short
Lighter MSTR	+0.0096%	1h	169.11	−0.041%	$3.6M	$2.4M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.32	+0.083%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.13	−0.029%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.13	−0.030%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.16	−0.012%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.18	0.000%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.059%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.19	+0.005%	$140	—	10x	as long as short
Bybit MSTRUSDT	+0.0109%	8h	169.20	+0.012%	$15.2M	$40.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0142%	8h	169.22	+0.026%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0202%	1h	169.13	−0.030%	$57.1M	$37.1M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.36	+0.108%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0460%	1h	169.22	+0.024%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.32	+0.083%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0874%	4h	169.41	+0.134%	$47K	$5.5M	10x	as long as short