Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: OKX against Variational Omni+0.033%7-day average −0.018% · you sell dearer than you buy

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

Long on Variational Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.033%, 7d avg −0.018%

Together, before fees+0.002%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.050% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	166.01	0	get 0.0000% / 8h	7h 00m	$1.2M	$2.0M	—
Short	OKX MSTR-USDT-SWAP	166.06	0	get 0.0000% / 8h	7h 00m	$21.3M	$99.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Variational Omni. 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 Variational OmnibpFee OKXbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → −0.018%: $5.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$4.99
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; OKX: live order book, 3 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 Variational Omni RFQ quote, 3 min ago	2.96 bp	doesn't fit	9.4 bp −$94	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.30 bp	7.5 bp −$8	16.0 bp −$160	77.2 bp −$7,721	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
Gate MSTR_USDT	−0.0265%	8h	166.13	+0.075%	$4.6M	$19.3M	50x	as long as short
BloFin MSTR-USDT	−0.0029%	8h	166.03	+0.014%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	166.03	+0.017%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.08	+0.045%	$87.5M	$616.2M	50x	as long as short
OKX MSTR-USDT-SWAPshort	0.0000%	8h	166.06	+0.033%	$21.3M	$99.6M	50x
Bitget MSTRUSDT	0.0000%	8h	166.19	+0.111%	$27.3M	$114.0M	25x	as long as short
Variational Omni MSTRlong	0.0000%	8h	166.01	long leg	$1.2M	$2.0M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	166.87	+0.521%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.38	+0.225%	$2.8M	$67K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.00	−0.004%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.88	−0.076%	$571K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.03	+0.014%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.62	+0.370%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.72	−0.172%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.99	−0.010%	$389K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.06	+0.033%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.75	−0.154%	$768K	$4.7M	10x	as long as short
Nado MSTR-PERP	+0.0070%	1h	165.79	−0.130%	$134K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	165.95	−0.034%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.10	+0.058%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.04	+0.021%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.29	+0.171%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.93	−0.046%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.85	−0.091%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0111%	8h	166.02	+0.009%	$66	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+2.008%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0251%	1h	166.07	+0.039%	$56.1M	$35.9M	10x	as long as short
Phoenix MSTR	+0.0259%	1h	166.44	+0.263%	$56K	$384K	10x	as long as short
Bybit MSTRUSDT	+0.0301%	8h	166.18	+0.105%	$16.7M	$40.4M	50x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.07	+0.040%	$271K	$435K	10x	as long as short
edgeX MSTRUSDC	+0.0663%	4h	166.58	+0.346%	$43K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1259%	1h	165.97	−0.022%	$282K	$438K	10x	as long as short