Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0638%/8h= −69.8% APRpaid last 24h −0.056%

Price spread now: Orderly against Arcus−0.053%7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Orderly is 0.053% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	169.61	0.0738	pay 0.0092% / 1h	46m 05s	$27K	$129K	10x
Short	Orderly PERP_MSTR_USDC_mythos	169.52	0.0100	get 0.0100% / 8h	46m 05s	$3K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Arcus. 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 ArcusbpFee OrderlybpOrdersPrice spread, now −0.053%Rate

Funding earned: −$133.89
Price spread: −0.053% → 0.000%: −$5.31
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$149.7
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 32 min ago; Orderly: no order-book sample. 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 Arcus live order book, 32 min ago	7.38 bp	13.1 bp −$13	42.4 bp −$424	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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
Aster MSTRUSDT	0.0000%	8h	169.51	−0.059%	$1.3M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.62	+0.006%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.49	−0.069%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.69	+0.047%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.60	−0.009%	$276K	$442K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0004%	8h	169.42	−0.110%	$83K	$875K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0011%	8h	169.70	+0.053%	$22.1M	$106.9M	50x	as long as short
BloFin MSTR-USDT	+0.0032%	8h	169.61	0.000%	$1.1M	$1.8M	20x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.30	−0.183%	$583K	$1.8M	10x	as long as short
Binance MSTRUSDT	+0.0033%	8h	169.67	+0.033%	$89.5M	$628.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	169.65	+0.024%	—	$2.1M	25x	as long as short
Nado MSTR-PERP	+0.0047%	1h	169.39	−0.129%	$140K	$97K	3x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.52	−0.053%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.50	−0.065%	$394K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.58	−0.018%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.24	−0.218%	$781K	$5.2M	10x	as long as short
Bitget MSTRUSDT	+0.0057%	8h	169.64	+0.018%	$28.7M	$120.3M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.32	−0.171%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.55	−0.037%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.38	−0.136%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.21	−0.236%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	169.52	−0.053%	$3K	$11K	10x
Bybit MSTRUSDT	+0.0100%	8h	169.63	+0.012%	$15.2M	$40.5M	50x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.312%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.51	−0.062%	$141	—	10x	as long as short
Lighter MSTR	+0.0120%	1h	169.52	−0.053%	$3.6M	$2.4M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0126%	8h	169.52	−0.053%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0186%	1h	169.52	−0.053%	$57.2M	$37.5M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	−0.062%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0491%	4h	169.40	−0.125%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USDlong	+0.0738%	1h	169.61	long leg	$27K	$129K	10x
Deribit MSTR_USDC-PERPETUAL	+0.1285%	1h	169.64	+0.018%	$288K	$438K	10x	as long as short