Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.036%

Price spread now: OKX against Vest+0.012%7-day average +0.902% · you sell dearer than you buy

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

Long on Vest Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−1.289%−$129 · spread now +0.012%, 7d avg +0.902%

Together, before fees−1.271%+ Points / potential airdropVest: Active · farm board−$127 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.890% cheaper against Vest than usual: you would sell low and buy high (−$89 if the spread goes back to its 7-day average of +0.902%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSTR-USD-PERP	164.33	0.0046	pay 0.0006% / 1h	33m 43s	—	$1.8M	25x
Short	OKX MSTR-USDT-SWAP	164.35	0	get 0.0000% / 8h	6h 33m	$20.8M	$100.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Vest. 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 VestbpFee OKXbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$9.59
Price spread: +0.012% → +0.902%: −$89.03
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee OKX: 5 bp × 2 orders: −$10
Net: −$110.62
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; OKX: live order book, 5 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 Vest no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	0.31 bp	6.0 bp −$6	12.2 bp −$122	69.4 bp −$6,938	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSTR on 31 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	−0.0896%	8h	164.59	+0.158%	$27.3M	$116.0M	25x	as long as short
Gate MSTR_USDT	−0.0181%	8h	164.41	+0.049%	$4.6M	$19.0M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.52	+0.117%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAPshort	0.0000%	8h	164.35	+0.012%	$20.8M	$100.9M	50x
RISEx MSTR/USDC	0.0000%	1h	164.52	+0.116%	$269K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.33	0.000%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.19	−0.082%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.62	+0.176%	$2.8M	$68K	10x	as long as short
edgeX MSTRUSDC	+0.0016%	4h	163.85	−0.294%	$48K	$5.5M	10x	as long as short
Binance MSTRUSDT	+0.0030%	8h	164.39	+0.037%	$87.3M	$626.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	164.25	−0.052%	$594K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.35	+0.012%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	164.33	long leg	—	$1.8M	25x
SoDEX MSTR-USD	+0.0050%	1h	164.51	+0.110%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.13	−0.122%	$917K	$4.8M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.49	+0.097%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.47	+0.085%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.34	+0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.08	−0.152%	$4K	$203K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.45	+0.073%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.45	+0.071%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0112%	1h	164.45	+0.073%	$381K	$2.7M	10x	as long as short
Lighter MSTR	+0.0144%	1h	164.24	−0.055%	$3.5M	$1.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.04	−0.176%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0170%	8h	164.52	+0.118%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0324%	1h	164.26	−0.043%	$55.2M	$36.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.049%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0381%	1h	164.13	−0.122%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0398%	1h	164.37	+0.026%	$111K	$143K	3x	as long as short
Bybit MSTRUSDT	+0.0430%	8h	164.40	+0.043%	$17.2M	$41.3M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0845%	1h	164.62	+0.176%	$280K	$438K	10x	as long as short