Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h −0.033%

Price spread now: Extended against OKX−0.155%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.155%, 7d avg −0.093%

Together, before fees+0.125%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.062% cheaper against OKX than usual: you would sell low and buy high (spread −0.155% now, against its 7-day average of −0.093%). If the spread goes back, that is −$6 on $10k: about 9.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSTR-USDT-SWAP	164.59	0.0011	pay 0.0011% / 8h	4h 12m	$20.6M	$99.5M	50x
Short	Extended MSTR_24_5-USD	164.33	0.0032	get 0.0004% / 1h	12m 01s	$595K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.155%Rate

Funding earned: $4.34
Price spread: −0.155% → −0.093%: −$6.17
Slippage, 4 orders: −$11.06
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.89
Costs to cover: 0.261%
Break-even: 52.0 days

Slippage from OKX: live order book, 2 min ago; Extended: 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 OKX live order book, 2 min ago	0.30 bp	6.5 bp −$6	11.1 bp −$111	66.6 bp −$6,660	doesn't fit
Sell Extended live order book, 1 min ago	3.35 bp	6.9 bp −$7	36.5 bp −$365	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
Bitget MSTRUSDT	−0.0943%	8h	164.66	+0.043%	$27.9M	$115.1M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.50	−0.053%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.73	+0.085%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.57	−0.012%	$2.8M	$74K	10x	as long as short
OKX MSTR-USDT-SWAPlong	+0.0011%	8h	164.59	long leg	$20.6M	$99.5M	50x
Lighter MSTR	+0.0032%	1h	164.46	−0.079%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	164.33	−0.155%	$595K	$1.9M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.886%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.51	−0.049%	$267K	$448K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.53	−0.036%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.38	−0.128%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.40	−0.115%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.53	−0.036%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.35	−0.146%	$856K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.50	−0.055%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0077%	8h	164.39	−0.124%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.44	−0.089%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.42	−0.103%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.36	−0.140%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.52	−0.043%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.51	−0.049%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0132%	8h	164.44	−0.091%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0141%	8h	164.55	−0.023%	$87.3M	$615.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0160%	8h	164.53	−0.036%	$76K	$780K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.286%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.54	−0.031%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0227%	1h	164.49	−0.061%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0239%	1h	164.37	−0.137%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0261%	8h	164.56	−0.018%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0347%	8h	164.57	−0.012%	$16.9M	$40.8M	50x	as long as short
edgeX MSTRUSDC	+0.0770%	4h	164.42	−0.105%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0784%	1h	164.55	−0.024%	$280K	$438K	10x	as long as short