Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h −0.025%

Price spread now: Coinbase International against Aster+0.256%7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 3 days (all we have)−0.164%−$16 · spread now +0.256%, 7d avg −0.060%

Together, before fees+0.067%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.316% dearer against Aster than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	164.79	0	get 0.0000% / 8h	6h 45m	$1.2M	$6.1M	50x
Short	Coinbase International MSTR-PERP-INTX	165.21	0.0168	get 0.0021% / 1h	45m 36s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.256%Rate

Funding earned: $35.28
Price spread: +0.256% → −0.060%: $31.62
Slippage, 4 orders: −$30.33
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $18.57
Costs to cover: 0.483%
Break-even: 3.3 days

Slippage from Aster: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	3.02 bp	7.6 bp −$8	273.7 bp −$2,737	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	3.33 bp	8.3 bp −$8	13.6 bp −$136	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
Bitget MSTRUSDT	−0.0475%	8h	165.04	+0.153%	$27.2M	$115.6M	25x	as long as short
Gate MSTR_USDT	−0.0317%	8h	164.92	+0.080%	$4.6M	$18.8M	50x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	164.79	long leg	$1.2M	$6.1M	50x
Binance MSTRUSDT	0.0000%	8h	164.87	+0.050%	$87.1M	$624.3M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.94	+0.092%	$21.1M	$100.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.96	+0.104%	$270K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.99	+0.125%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	165.55	+0.461%	$76K	$809K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.49	+0.426%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.462%	$1.1M	$1.9M	20x	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	164.70	−0.054%	$568K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.27	+0.292%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.75	−0.023%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.99	+0.122%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.78	−0.005%	$799K	$4.8M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.93	+0.086%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.90	+0.066%	$102K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.73	−0.035%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.35	+0.341%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.95	+0.098%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.95	+0.097%	$137	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0121%	1h	164.94	+0.092%	$385K	$2.7M	10x	as long as short
Lighter MSTR	+0.0128%	1h	164.75	−0.023%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0150%	8h	164.81	+0.014%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	165.21	+0.256%	$1.4M	$1.1M	10x
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.762%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0354%	1h	164.82	+0.019%	$55.7M	$36.5M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	165.41	+0.379%	$55K	$219K	10x	as long as short
edgeX MSTRUSDC	+0.0389%	4h	165.28	+0.301%	$47K	$5.5M	10x	as long as short
Nado MSTR-PERP	+0.0403%	1h	164.82	+0.021%	$134K	$129K	3x	as long as short
Bybit MSTRUSDT	+0.0429%	8h	164.94	+0.092%	$17.2M	$41.1M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1146%	1h	165.03	+0.147%	$281K	$438K	10x	as long as short