Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.023%

Price spread now: Extended against Aster+0.007%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 7 days−0.109%−$11 · spread now +0.007%, 7d avg −0.076%

Together, before fees+0.032%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.083% dearer against Aster than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	168.84	0	get 0.0000% / 8h	23m 47s	$1.2M	$6.1M	50x
Short	Extended MSTR_24_5-USD	168.85	0.0032	get 0.0004% / 1h	23m 47s	$583K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.007%Rate

Funding earned: $6.72
Price spread: +0.007% → −0.076%: $8.34
Slippage, 4 orders: −$13.11
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$11.04
Costs to cover: 0.261%
Break-even: 18.5 days

Slippage from Aster: live order book, 5 min ago; Extended: live order book, 5 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, 5 min ago	1.77 bp	6.3 bp −$6	117.3 bp −$1,173	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	1.78 bp	5.2 bp −$5	17.8 bp −$178	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	−0.0019%	1h	168.90	+0.036%	$139K	$97K	3x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	168.84	long leg	$1.2M	$6.1M	50x
Gate MSTR_USDT	0.0000%	8h	168.77	−0.040%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.01	+0.099%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.05	+0.126%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	168.92	+0.049%	$275K	$441K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0010%	8h	168.78	−0.034%	$21.9M	$106.3M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.73	−0.064%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	168.85	+0.007%	$583K	$1.8M	10x
Vest MSTR-USD-PERP	+0.0046%	1h	169.03	+0.114%	—	$2.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0046%	8h	168.76	−0.046%	$28.6M	$120.0M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0048%	8h	169.09	+0.152%	$77K	$879K	10x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.92	+0.049%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.85	+0.007%	$394K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.84	+0.001%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.76	−0.046%	$779K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0062%	8h	168.81	−0.017%	$88.8M	$628.9M	50x	as long as short
BloFin MSTR-USDT	+0.0064%	8h	168.97	+0.078%	$1.1M	$1.9M	20x	as long as short
Bybit MSTRUSDT	+0.0085%	8h	168.81	−0.017%	$15.1M	$40.4M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.052%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.89	+0.032%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.78	−0.034%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.94	+0.060%	$4K	$354K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.88	+0.025%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.21	+0.220%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.84	+0.003%	$140	—	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0105%	1h	168.88	+0.025%	$287K	$438K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	168.89	+0.034%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0164%	1h	168.74	−0.058%	$57.0M	$37.2M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.01	+0.101%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0539%	4h	168.98	+0.086%	$47K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.01	+0.102%	$27K	$129K	10x	as long as short