Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.016%

Price spread now: Vest against Orderly+0.059%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Vest

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—+ Points / potential airdropVest: Active · farm boardneeds both histories

The price spread pays, funding is against you. Vest is 0.059% dearer against Orderly than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	169.15	0.0100	pay 0.0100% / 8h	7h 47m	$3K	$8K	10x
Short	Vest MSTR-USD-PERP	169.25	0.0046	get 0.0006% / 1h	47m 11s	—	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$11.41
Price spread: +0.059% → 0.000%: $5.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Vest: 1 bp × 2 orders: −$2
Net: −$13.5
Costs to cover: 0.080%
Break-even: never at this rate

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

Orderly and 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	−0.0087%	1h	169.07	−0.045%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.17	+0.013%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.26	+0.065%	$21.9M	$103.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.25	+0.059%	$4.7M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	169.33	+0.106%	$28.6M	$114.9M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	−0.113%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.10	−0.030%	$77K	$859K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.23	+0.047%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.16	+0.006%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.05	−0.059%	$579K	$1.7M	10x	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	+0.0035%	1h	169.15	0.000%	$1.4M	$9.9M	10x	as long as short
Bybit MSTRUSDT	+0.0040%	8h	169.30	+0.089%	$15.2M	$39.7M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.17	+0.012%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	169.25	+0.059%	—	$2.0M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	169.12	−0.018%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.14	−0.006%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.91	−0.142%	$747K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0070%	8h	169.27	+0.068%	$89.4M	$620.6M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.236%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0090%	8h	169.12	−0.019%	$68	—	5x	as long as short
BloFin MSTR-USDT	+0.0091%	8h	169.25	+0.059%	$1.1M	$1.9M	20x	as long as short
Pacifica MSTR	+0.0100%	1h	169.16	+0.004%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.09	−0.035%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.053%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	169.15	long leg	$3K	$8K	10x
Aevo MSTR-PERP	+0.0104%	1h	169.19	+0.024%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0190%	1h	169.27	+0.071%	$57.1M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.112%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	169.15	+0.001%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.17	+0.012%	$275K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0641%	4h	168.94	−0.124%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0696%	1h	169.27	+0.071%	$288K	$438K	10x	as long as short