Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.017%

Price spread now: Aster against Pacifica−0.069%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Pacifica Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.069%, 7d avg −0.003%

Together, before fees−0.027%+ Points / potential airdropPacifica: Active · Aster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.066% cheaper against Pacifica than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	162.83	0.0100	pay 0.0013% / 1h	34m 22s	$100K	$84K	10x
Short	Aster MSTRUSDT	162.72	0	get 0.0000% / 8h	2h 34m	$1.8M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$21
Price spread: −0.069% → −0.003%: −$6.64
Slippage, 4 orders: −$14.95
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$58.59
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Pacifica: live order book, 13 min ago; Aster: live order book, 4 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 Pacifica live order book, 13 min ago	0.67 bp	6.0 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.31 bp	5.7 bp −$6	10.7 bp −$107	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	−0.1060%	8h	162.95	+0.073%	$27.0M	$117.7M	25x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	162.72	−0.069%	$1.8M	$8.6M	50x
Gate MSTR_USDT	0.0000%	8h	162.80	−0.019%	$4.6M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.14	+0.190%	$2.7M	$77K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.61	−0.136%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.997%	$8K	$26K	30x	as long as short
Vest MSTR-USD-PERP	+0.0040%	1h	162.50	−0.203%	—	$1.8M	25x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.08	+0.153%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.68	−0.093%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.14	+0.190%	$43K	$3K	10x	as long as short

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	162.88	+0.030%	$856K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	162.84	+0.005%	$1.4M	$7.2M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.84	+0.004%	$264K	$443K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0090%	8h	162.67	−0.099%	$20.7M	$99.7M	50x	as long as short
Pacifica MSTRlong	+0.0100%	1h	162.83	long leg	$100K	$84K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	162.70	−0.081%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.88	+0.030%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.65	−0.111%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.67	−0.097%	$135	—	10x	as long as short
Variational Omni MSTR	+0.0124%	8h	163.00	+0.104%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0150%	8h	162.76	−0.045%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	162.54	−0.179%	$1.4M	$1.1M	10x	as long as short
Lighter MSTR	+0.0192%	1h	162.77	−0.038%	$3.4M	$1.9M	10x	as long as short
Binance MSTRUSDT	+0.0194%	8h	162.67	−0.099%	$84.4M	$624.7M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0200%	8h	163.11	+0.169%	$79K	$831K	10x	as long as short
edgeX MSTRUSDC	+0.0208%	4h	162.93	+0.062%	$48K	$5.4M	10x	as long as short
BloFin MSTR-USDT	+0.0313%	8h	163.21	+0.233%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0362%	1h	163.10	+0.165%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0364%	8h	162.76	−0.044%	$16.6M	$41.3M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0370%	1h	162.72	−0.068%	$54.2M	$37.1M	10x	as long as short
Nado MSTR-PERP	+0.0379%	1h	162.64	−0.115%	$130K	$156K	3x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0858%	1h	162.66	−0.105%	$277K	$438K	10x	as long as short