Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0351%/8h= +38.4% APRpaid last 24h +0.034%

Price spread now: Binance against Pacifica+0.078%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+1.010%+$101 · spread now +0.078%, 7d avg +0.069%

Together, before fees+0.991%+ Points / potential airdropPacifica: Active · farm board+$99 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.069%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.018% in total (about -1.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	166.16	0.0100	pay 0.0013% / 1h	52m 34s	$102K	$74K	10x
Short	Binance MSTRUSDT	166.29	0.0451	get 0.0451% / 8h	5h 52m	$87.2M	$538.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.078%Rate

Funding earned: $73.65
Price spread: +0.078% → +0.069%: $0.97
Slippage, 4 orders: −$9.5
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: $47.12
Costs to cover: 0.275%
Break-even: 2.5 days

Slippage from Pacifica: live order book, 58 min ago; Binance: live order book, 14 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, 58 min ago	1.09 bp	5.1 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.30 bp	5.6 bp −$6	9.6 bp −$96	30.6 bp −$3,062	130.5 bp −$65.3K

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.563%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.34	+0.111%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.34	+0.111%	$32.0M	$105.9M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.40	+0.147%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.25	+0.057%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.20	+0.029%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.61	+0.274%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.25	+0.057%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.32	+0.099%	$384K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.41	+0.153%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.25	+0.057%	$876K	$3.3M	10x	as long as short
Nado MSTR-PERP	+0.0053%	1h	166.27	+0.069%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.226%	$1.4M	$390K	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	166.16	long leg	$102K	$74K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	166.26	+0.063%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.26	+0.063%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.40	+0.147%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.42	+0.161%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0112%	8h	166.29	+0.081%	$67	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0190%	1h	166.21	+0.033%	$54.9M	$34.4M	10x	as long as short
edgeX MSTRUSDC	+0.0217%	4h	166.48	+0.197%	$48K	$4.9M	10x	as long as short
Bybit MSTRUSDT	+0.0224%	8h	166.28	+0.075%	$17.1M	$38.1M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0231%	1h	166.42	+0.159%	$283K	$209K	10x	as long as short
Aster MSTRUSDT	+0.0266%	8h	166.29	+0.084%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0292%	8h	166.27	+0.069%	$21.6M	$84.0M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.49	+0.201%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0348%	8h	166.45	+0.179%	$1.2M	$1.6M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.31	+0.090%	$274K	$353K	10x	as long as short
Binance MSTRUSDTshort	+0.0451%	8h	166.29	+0.078%	$87.2M	$538.6M	50x
BloFin MSTR-USDT	+0.0578%	8h	166.39	+0.141%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0596%	8h	166.55	+0.236%	$87K	$855K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.37	+0.129%	$26K	$71K	10x	as long as short