Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.020%

Price spread now: Pacifica against OKX−0.063%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.063%, 7d avg −0.022%

Together, before fees+0.068%+ Points / potential airdropPacifica: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.041% cheaper against OKX than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of −0.022%). If the spread goes back, that is −$4 on $10k: about 33 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.024% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSTR-USDT-SWAP	165.15	0	get 0.0000% / 8h	5h 28m	$20.7M	$100.0M	50x
Short	Pacifica MSTR	165.05	0.0100	get 0.0013% / 1h	28m 43s	$101K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.063%Rate

Funding earned: $21
Price spread: −0.063% → −0.022%: −$4.11
Slippage, 4 orders: −$11.97
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$13.08
Costs to cover: 0.300%
Break-even: 11.4 days

Slippage from OKX: live order book, 5 min ago; Pacifica: live order book, 34 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, 5 min ago	0.30 bp	6.5 bp −$7	10.6 bp −$106	67.7 bp −$6,772	doesn't fit
Sell Pacifica live order book, 34 min ago	0.73 bp	12.4 bp −$12	doesn't fit	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	−0.1189%	8h	165.23	+0.048%	$27.8M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.06	−0.052%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAPlong	0.0000%	8h	165.15	long leg	$20.7M	$100.0M	50x
Gate MSTR_USDT	0.0000%	8h	165.21	+0.036%	$4.6M	$18.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.16	+0.006%	$2.8M	$71K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.11	−0.024%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.01	−0.082%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.537%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0034%	8h	165.14	−0.005%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.07	−0.048%	$27K	$112K	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	165.20	+0.030%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.12	−0.018%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.00	−0.091%	$868K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.13	−0.012%	$1.4M	$7.6M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0065%	1h	165.05	−0.061%	$55.0M	$36.8M	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	165.05	−0.063%	$101K	$84K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	165.07	−0.048%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.15	0.000%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.23	+0.048%	$3K	$8K	10x	as long as short
Binance MSTRUSDT	+0.0101%	8h	165.18	+0.017%	$88.5M	$618.5M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.16	+0.008%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	165.11	−0.025%	$66	—	5x	as long as short
SoDEX MSTR-USD	+0.0170%	1h	165.11	−0.024%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0173%	8h	165.30	+0.093%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.642%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0219%	1h	165.04	−0.069%	$122K	$150K	3x	as long as short
BloFin MSTR-USDT	+0.0220%	8h	165.14	−0.006%	$1.0M	$2.0M	20x	as long as short
edgeX MSTRUSDC	+0.0277%	4h	164.71	−0.267%	$49K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.16	+0.006%	$270K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.09	−0.036%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0343%	8h	165.21	+0.036%	$17.2M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0719%	1h	165.26	+0.067%	$281K	$438K	10x	as long as short