Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0234%/8h= +25.6% APRpaid last 24h +0.067%

Price spread now: BloFin against Polymarket Perps+0.049%45s7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.324% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.049%, 7d avg +0.047%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.047%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	163.96	0.0050	pay 0.0006% / 1h	17m 38s	$380K	$2.7M	10x
Short	BloFin MSTR-USDT	164.04	0.0284	get 0.0284% / 8h	3h 17m	$1.0M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now +0.049%Rate

Funding earned: $49.17
Price spread: +0.049% → +0.047%: $0.16
Slippage, 4 orders: −$12.43
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $16.9
Costs to cover: 0.324%
Break-even: 4.6 days

Slippage from Polymarket Perps: live order book, 1 min ago; BloFin: live order book, 5 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 Polymarket Perps live order book, 1 min ago	0.31 bp	8.2 bp −$8	8.9 bp −$89	11.9 bp −$1,193	doesn't fit
Sell BloFin live order book, 5 min ago	1.83 bp	7.9 bp −$8	10.3 bp −$103	14.8 bp −$1,484	39.4 bp −$19.7K

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	−0.0945%	8h	164.25	+0.177%	$27.2M	$116.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.13	+0.104%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.22	+0.159%	$4.6M	$19.2M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.17	+0.128%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	164.13	+0.104%	$3.5M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.95	−0.003%	$601K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.281%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.10	+0.085%	$26K	$110K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.80	−0.098%	—	$1.7M	25x	as long as short
OKX MSTR-USDT-SWAP	+0.0047%	8h	164.14	+0.110%	$20.8M	$99.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USDlong	+0.0050%	1h	163.96	long leg	$380K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	164.06	+0.061%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.80	−0.098%	$846K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.09	+0.079%	$1.4M	$7.3M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	164.17	+0.131%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	164.11	+0.093%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.08	+0.073%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.89	−0.043%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.04	+0.049%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0102%	8h	164.03	+0.040%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.05	+0.057%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0165%	8h	164.12	+0.098%	$86.5M	$618.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0166%	8h	164.07	+0.064%	$76K	$826K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.88	−0.049%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.15	+0.116%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	163.88	−0.046%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0264%	1h	164.14	+0.110%	$54.7M	$37.1M	10x	as long as short
BloFin MSTR-USDTshort	+0.0284%	8h	164.04	+0.049%	$1.0M	$2.1M	20x
Bybit MSTRUSDT	+0.0323%	8h	164.22	+0.159%	$16.6M	$41.1M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.02	+0.034%	$56K	$226K	10x	as long as short
edgeX MSTRUSDC	+0.0400%	4h	163.93	−0.021%	$49K	$5.3M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0726%	1h	164.12	+0.098%	$279K	$438K	10x	as long as short