Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.054%

Price spread now: Vest against Binance+0.106%47s7-day average −0.364% · you sell dearer than you buy

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

Long on Binance Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 2 days (all we have)−0.426%−$43 · spread now +0.106%, 7d avg −0.364%

Together, before fees−0.464%+ Points / potential airdropVest: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.471% dearer against Binance than usual: you sell high and buy low (spread +0.106% now, against its 7-day average of −0.364%): +$47 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSTRUSDT	169.23	0.0066	pay 0.0066% / 8h	39m 48s	$89.2M	$629.0M	50x
Short	Vest MSTR-USD-PERP	169.41	0.0046	get 0.0006% / 1h	39m 48s	—	$2.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee VestbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$4.35
Price spread: +0.106% → −0.364%: $47.08
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: $30.73
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Binance: live order book, 4 min ago; Vest: 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 Binance live order book, 4 min ago	0.29 bp	6.1 bp −$6	8.7 bp −$87	27.7 bp −$2,771	119.6 bp −$59.8K
Sell Vest no order-book sample	—	—	—	—	—

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 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	169.30	+0.043%	$1.3M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.20	−0.018%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.42	+0.115%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.42	+0.112%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.28	+0.030%	$276K	$442K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0025%	8h	169.20	−0.018%	$22.1M	$106.5M	50x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	169.41	+0.106%	—	$2.1M	25x
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.45	+0.130%	$77K	$879K	10x	as long as short
BloFin MSTR-USDT	+0.0046%	8h	169.37	+0.083%	$1.1M	$1.8M	20x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.28	+0.030%	$1.5M	$10.2M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	169.22	−0.006%	$389K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.19	−0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.19	−0.024%	$782K	$5.2M	10x	as long as short
Extended MSTR_24_5-USD	+0.0056%	1h	169.13	−0.056%	$583K	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0061%	1h	169.19	−0.026%	$139K	$97K	3x	as long as short
Bitget MSTRUSDT	+0.0063%	8h	169.22	−0.006%	$28.7M	$120.0M	25x	as long as short
Binance MSTRUSDTlong	+0.0066%	8h	169.23	long leg	$89.2M	$629.0M	50x
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.32	+0.053%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.27	+0.023%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.19	−0.024%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.22	−0.006%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.19	−0.024%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.089%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.21	−0.009%	$140	—	10x	as long as short
Bybit MSTRUSDT	+0.0110%	8h	169.26	+0.018%	$15.2M	$40.5M	50x	as long as short
Lighter MSTR	+0.0120%	1h	169.18	−0.030%	$3.6M	$2.4M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0147%	8h	169.26	+0.019%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0212%	1h	169.23	0.000%	$57.1M	$37.1M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.52	+0.173%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0696%	1h	169.31	+0.047%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.37	+0.083%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0778%	4h	169.65	+0.248%	$47K	$5.5M	10x	as long as short