Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.010%

Price spread now: SoDEX against Orderly−0.012%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	162.66	0.0100	pay 0.0100% / 8h	1h 39m	$2K	$13K	10x
Short	SoDEX MSTR-USD	162.64	0.0050	get 0.0006% / 1h	39m 30s	$43K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$10.5
Price spread: −0.012% → 0.000%: −$1.23
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$25.73
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; SoDEX: 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 Orderly no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Orderly and SoDEX: 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	−0.0914%	8h	162.78	+0.074%	$28.6M	$119.0M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.63	−0.018%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.26	+0.369%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0025%	8h	162.52	−0.087%	$1.7M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.38	−0.169%	$506K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.107%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.86	+0.123%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.26	−0.246%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.49	−0.105%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	162.64	−0.012%	$43K	$3K	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.54	−0.074%	$854K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.54	−0.074%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.55	−0.067%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.51	−0.092%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.65	−0.006%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	162.66	long leg	$2K	$13K	10x
Aevo MSTR-PERP	+0.0104%	1h	162.65	−0.009%	$135	—	10x	as long as short
Lighter MSTR	+0.0120%	1h	162.51	−0.092%	$3.5M	$2.0M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0134%	8h	162.60	−0.037%	$20.7M	$100.1M	50x	as long as short
Variational Omni MSTR	+0.0144%	8h	162.76	+0.059%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0148%	8h	162.51	−0.094%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.701%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0224%	8h	162.51	−0.090%	$83.5M	$628.3M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0235%	8h	162.80	+0.088%	$78K	$867K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0241%	1h	162.49	−0.105%	$53.9M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.77	+0.068%	$55K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0333%	1h	162.42	−0.148%	$130K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0344%	8h	162.75	+0.055%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0379%	8h	162.59	−0.043%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.60	−0.038%	$261K	$436K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0673%	1h	162.67	+0.006%	$277K	$437K	10x	as long as short
edgeX MSTRUSDC	+0.0728%	4h	162.81	+0.094%	$46K	$5.4M	10x	as long as short