Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.058%

Price spread now: Phemex against Variational Omni−0.059%7-day average +0.015% · you buy dearer than you sell

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.059%, 7d avg +0.015%

Together, before fees−0.079%+ Points / potential airdropVariational Omni: Active · farm board−$8 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: Phemex is 0.075% cheaper against Variational Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	169.20	0	get 0.0000% / 8h	1h 46m	$1.2M	$2.4M	—
Short	Phemex MSTRUSDT	169.10	0	get 0.0000% / 4h	1h 46m	$2.9M	$60K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → +0.015%: −$7.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$19.49
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phemex: 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	9.5 bp −$95	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.37 bp	doesn't fit	doesn't fit	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
Nado MSTR-PERP	−0.0094%	1h	168.96	−0.143%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.07	−0.078%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.11	−0.054%	$88.3M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.08	−0.071%	$22.1M	$106.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.02	−0.107%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.10	−0.059%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTRlong	0.0000%	8h	169.20	long leg	$1.2M	$2.4M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	169.23	+0.018%	$74K	$935K	10x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	169.10	−0.059%	$2.9M	$60K	10x
BloFin MSTR-USDT	+0.0007%	8h	169.02	−0.107%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.08	−0.071%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.02	−0.107%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.02	−0.107%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.09	−0.065%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0049%	8h	169.12	−0.048%	$28.8M	$119.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.96	−0.142%	$401K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.03	−0.101%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.09	−0.065%	$752K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.160%	$1.5M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0078%	8h	168.98	−0.129%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0079%	8h	169.14	−0.036%	$15.2M	$40.9M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0093%	1h	169.04	−0.095%	$56.9M	$38.0M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.01	−0.115%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.05	−0.089%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.02	−0.107%	$4K	$661K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.07	−0.077%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.05	−0.089%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.12	−0.050%	$57K	$394K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0282%	1h	169.15	−0.030%	$287K	$439K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.25	+0.029%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.09	−0.065%	$27K	$134K	10x	as long as short
edgeX MSTRUSDC	+0.0654%	4h	169.21	+0.007%	$48K	$5.4M	10x	as long as short