Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h −0.067%

Price spread now: Variational Omni against RISEx−0.118%7-day average +0.039% · you buy dearer than you sell

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

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.290%−$29 on $10k

Price spread, last 4 days (all we have)+1.040%+$104 · spread now −0.118%, 7d avg +0.039%

Together, before fees+0.750%+ Points / potential airdropVariational Omni: Active · farm board+$75 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.157% cheaper against RISEx than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of +0.039%). If the spread goes back, that is −$16 on $10k: about 15 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.290%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	161.89	0.0088	pay 0.0011% / 1h	25m 03s	$263K	$443K	10x
Short	Variational Omni MSTR	161.70	0.0121	get 0.0121% / 8h	2h 25m	$1.2M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against RISEx. 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 RISExbpFee Variational OmnibpOrdersPrice spread, now −0.118%Rate

Funding earned: $7.1
Price spread: −0.118% → +0.039%: −$15.67
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.57
Costs to cover: 0.060%
Break-even: 21.4 days

Slippage unknown: RISEx: live order book, 23 min ago; Variational Omni: RFQ quote, 4 min ago. 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 RISEx live order book, 23 min ago	0.31 bp	3.3 bp −$3	4.5 bp −$45	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.64 bp	doesn't fit	16.5 bp −$165	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	−0.1248%	8h	162.22	+0.201%	$26.8M	$117.8M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	161.85	−0.027%	$1.7M	$8.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.00	+0.065%	$4.6M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.30	+0.250%	$2.7M	$77K	10x	as long as short
Vest MSTR-USD-PERP	+0.0028%	1h	161.44	−0.281%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	161.82	−0.046%	$495K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.599%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.00	+0.065%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	161.94	+0.028%	$374K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	161.78	−0.071%	$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	161.62	−0.170%	$863K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	161.95	+0.034%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDClong	+0.0088%	1h	161.89	long leg	$263K	$443K	10x
OKX MSTR-USDT-SWAP	+0.0093%	8h	161.94	+0.028%	$20.4M	$99.6M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	161.86	−0.023%	$99K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	161.83	−0.040%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	161.54	−0.219%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	161.90	+0.003%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	161.90	+0.002%	$134	—	10x	as long as short
Variational Omni MSTRshort	+0.0121%	8h	161.70	−0.118%	$1.2M	$2.1M	—
Lighter MSTR	+0.0144%	1h	161.98	+0.053%	$3.4M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0145%	8h	161.85	−0.030%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.231%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0194%	8h	161.97	+0.044%	$83.6M	$627.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0209%	8h	162.29	+0.246%	$77K	$849K	10x	as long as short
BloFin MSTR-USDT	+0.0314%	8h	162.02	+0.078%	$1.0M	$2.1M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0333%	1h	161.87	−0.015%	$53.8M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0362%	1h	162.41	+0.318%	$55K	$226K	10x	as long as short
Nado MSTR-PERP	+0.0363%	1h	161.89	−0.006%	$129K	$157K	3x	as long as short
Bybit MSTRUSDT	+0.0371%	8h	162.01	+0.071%	$16.7M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0394%	4h	161.77	−0.077%	$44K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0800%	1h	162.03	+0.084%	$276K	$438K	10x	as long as short