Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0215%/8hpaid last 24h −0.051%

Price spread now: Vest against Bybit+0.006%7-day average −0.980% · you sell dearer than you buy

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

Long on Bybit Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.115%−$11 on $10k

Price spread, last 3 days (all we have)+1.325%+$132 · spread now +0.006%, 7d avg −0.980%

Together, before fees+1.210%+ Points / potential airdropVest: Active · farm board+$121 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.985% dearer against Bybit than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.980%): +$99 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	168.75	0.0261	pay 0.0261% / 8h	4h 22m	$15.7M	$40.7M	50x
Short	Vest MSTR-USD-PERP	168.76	0.0046	get 0.0006% / 1h	22m 57s	—	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee VestbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$45.15
Price spread: +0.006% → −0.980%: $98.54
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Vest: 1 bp × 2 orders: −$2
Net: $40.39
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Bybit: live order book, 10 min ago; Vest: 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 Bybit live order book, 10 min ago	1.19 bp	8.9 bp −$9	13.5 bp −$135	57.3 bp −$5,728	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 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
Nado MSTR-PERP	−0.0089%	1h	168.54	−0.124%	$126K	$184K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.55	−0.119%	$291K	$470K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.55	−0.119%	$4.8M	$19.0M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.44	−0.184%	$2.9M	$49K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0011%	8h	168.67	−0.047%	$78K	$918K	10x	as long as short
edgeX MSTRUSDC	+0.0022%	4h	168.40	−0.206%	$49K	$5.3M	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.61	−0.083%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.56	−0.114%	$584K	$2.0M	10x	as long as short
Variational Omni MSTR	+0.0033%	8h	168.18	−0.335%	$1.2M	$2.4M	—	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	168.76	+0.006%	—	$2.0M	25x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0047%	1h	168.48	−0.160%	$1.5M	$10.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.52	−0.136%	$412K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.53	−0.130%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.61	−0.083%	$783K	$4.8M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0064%	8h	168.63	−0.069%	$67	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0064%	1h	167.85	−0.533%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0066%	1h	168.52	−0.136%	$57.2M	$34.3M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0094%	8h	168.70	−0.030%	$22.5M	$105.0M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	168.56	−0.114%	$103K	$152K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.52	−0.136%	$2.6M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.55	−0.119%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.60	−0.089%	$3K	$12K	10x	as long as short
Binance MSTRUSDT	+0.0103%	8h	168.68	−0.040%	$89.3M	$608.9M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.62	−0.074%	$140	—	10x	as long as short
Aster MSTRUSDT	+0.0107%	8h	168.50	−0.148%	$1.3M	$6.1M	50x	as long as short
Injective MSTR/USDC PERP	+0.0177%	1h	167.72	−0.610%	$12K	$22K	30x	as long as short
Bitget MSTRUSDT	+0.0192%	8h	168.69	−0.036%	$28.8M	$114.4M	25x	as long as short
Phoenix MSTR	+0.0216%	1h	168.23	−0.311%	$54K	$386K	10x	as long as short
BloFin MSTR-USDT	+0.0223%	8h	168.59	−0.095%	$1.1M	$1.7M	20x	as long as short
Bybit MSTRUSDTlong	+0.0261%	8h	168.75	long leg	$15.7M	$40.7M	50x
Deribit MSTR_USDC-PERPETUAL	+0.0462%	1h	168.64	−0.065%	$287K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0493%	1h	168.64	−0.065%	$27K	$125K	10x	as long as short