Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0457%/8h= +50.0% APRpaid last 24h +0.046%

Price spread now: Arcus against Aster+0.118%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now +0.118%, 7d avg +0.022%

Together, before fees−0.039%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Arcus is 0.096% dearer against Aster than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.022%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.077% in total (about 8.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	169.18	0	get 0.0000% / 8h	1h 16m	$1.2M	$6.2M	50x
Short	Arcus MSTR-USD	169.38	0.0457	get 0.0057% / 1h	16m 32s	$27K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aster. 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 AsterbpFee ArcusbpOrdersPrice spread, now +0.118%Rate

Funding earned: $95.91
Price spread: +0.118% → +0.022%: $9.63
Slippage, 4 orders: −$27.39
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $65.65
Costs to cover: 0.399%
Break-even: 2.2 days

Slippage from Aster: live order book, 2 min ago; Arcus: live order book, 1 min ago.

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 Aster live order book, 2 min ago	0.59 bp	9.8 bp −$10	81.7 bp −$817	doesn't fit	doesn't fit
Sell Arcus live order book, 1 min ago	7.38 bp	11.0 bp −$11	35.3 bp −$353	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	−0.0070%	1h	169.18	+0.002%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0019%	8h	169.32	+0.083%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	169.18	long leg	$1.2M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.30	+0.073%	$89.4M	$628.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.33	+0.089%	$22.1M	$106.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.32	+0.081%	$276K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.27	+0.053%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.35	+0.103%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.37	+0.112%	$83K	$889K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.26	+0.047%	$2.9M	$62K	10x	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	169.23	+0.030%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.11	−0.044%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0035%	8h	169.29	+0.065%	$28.8M	$119.4M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.32	+0.083%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.35	+0.100%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.26	+0.047%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.28	+0.059%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.25	+0.041%	$781K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.307%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0066%	8h	169.32	+0.083%	$15.2M	$40.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0082%	8h	169.27	+0.055%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0095%	1h	169.25	+0.041%	$57.0M	$37.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.23	+0.032%	$104K	$105K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.13	−0.030%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.15	−0.018%	$4K	$481K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.27	+0.053%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.25	+0.041%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.34	+0.092%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0287%	4h	169.42	+0.139%	$48K	$5.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.083%	$13K	$22K	30x	as long as short
Arcus MSTR-USDshort	+0.0457%	1h	169.38	+0.118%	$27K	$129K	10x
Deribit MSTR_USDC-PERPETUAL	+0.0577%	1h	169.34	+0.095%	$288K	$439K	10x	as long as short