Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h 0.000%

Price spread now: Coinbase International against Orderly−1.344%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Coinbase International is 1.344% cheaper against Orderly than usual: you would sell low and buy high (spread −1.344% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$134 on $10k: about 3 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	163.72	0.0100	pay 0.0100% / 8h	1h 15m	$2K	$13K	10x
Short	Coinbase International MSTR-PERP-INTX	161.52	0.0152	get 0.0019% / 1h	15m 39s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now −1.344%Rate

Funding earned: $10.92
Price spread: −1.344% → 0.000%: −$134.38
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$139.46
Costs to cover: 0.160%
Break-even: 96.4 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 3 min ago	4.89 bp	9.9 bp −$10	14.4 bp −$144	doesn't fit	doesn't fit

Orderly: 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
Bitget MSTRUSDT	−0.0743%	8h	163.84	+0.073%	$29.2M	$118.8M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.73	+0.006%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.76	+0.024%	$2.8M	$79K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.56	−0.095%	$511K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.433%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.78	+0.037%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.73	+0.006%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.63	−0.055%	$379K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.56	−0.098%	$850K	$3.9M	10x	as long as short
Aster MSTRUSDT	+0.0053%	8h	163.64	−0.049%	$1.8M	$8.7M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0057%	1h	163.69	−0.018%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.67	−0.030%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.64	−0.049%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.74	+0.012%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	163.72	long leg	$2K	$13K	10x
Aevo MSTR-PERP	+0.0104%	1h	163.74	+0.010%	$136	—	10x	as long as short
Lighter MSTR	+0.0120%	1h	163.64	−0.049%	$3.5M	$2.0M	10x	as long as short
SoDEX MSTR-USD	+0.0125%	1h	163.66	−0.037%	$43K	$3K	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0152%	1h	161.52	−1.344%	$1.4M	$1.1M	10x
OKX MSTR-USDT-SWAP	+0.0165%	8h	163.72	0.000%	$20.9M	$100.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0166%	8h	163.68	−0.023%	$65	—	5x	as long as short
Variational Omni MSTR	+0.0175%	8h	163.69	−0.021%	$1.2M	$2.1M	—	as long as short
tradeXYZ xyz:MSTR	+0.0249%	1h	163.65	−0.043%	$54.2M	$37.2M	10x	as long as short
Binance MSTRUSDT	+0.0250%	8h	163.73	+0.006%	$84.2M	$626.9M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0267%	8h	163.79	+0.045%	$84K	$878K	10x	as long as short
Phoenix MSTR	+0.0328%	1h	163.73	+0.004%	$56K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0361%	1h	163.66	−0.040%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0371%	8h	163.87	+0.092%	$1.0M	$2.1M	20x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	163.74	+0.012%	$265K	$428K	10x	as long as short
Bybit MSTRUSDT	+0.0387%	8h	163.77	+0.031%	$17.1M	$41.9M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0667%	1h	163.74	+0.012%	$278K	$437K	10x	as long as short
edgeX MSTRUSDC	+0.0874%	4h	163.79	+0.043%	$46K	$5.4M	10x	as long as short