Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0015%/8h= +1.7% APRpaid last 24h −0.005%

Price spread now: SoDEX against Bybit−0.006%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on SoDEX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	168.85	0.0035	pay 0.0035% / 8h	7h 24m	$15.1M	$39.2M	50x
Short	SoDEX MSTR-USD	168.84	0.0050	get 0.0006% / 1h	24m 41s	$44K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now −0.006%Rate

Funding earned: $3.24
Price spread: −0.006% → 0.000%: −$0.59
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$16.36
Costs to cover: 0.190%
Break-even: 42.4 days

Slippage unknown: Bybit: live order book, 4 min ago; SoDEX: 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 Bybit live order book, 4 min ago	0.89 bp	10.7 bp −$11	18.0 bp −$180	144.8 bp −$14.5K	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Nado MSTR-PERP	−0.0035%	1h	168.72	−0.079%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.86	+0.004%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.79	−0.036%	$21.8M	$100.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.83	−0.012%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.90	+0.030%	$28.2M	$113.6M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.83	−0.014%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.67	−0.107%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.94	+0.053%	$2.9M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0023%	8h	168.85	0.000%	$89.0M	$614.5M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.76	−0.053%	$3.6M	$2.0M	10x	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	168.72	−0.077%	$579K	$1.8M	10x	as long as short
Bybit MSTRUSDTlong	+0.0035%	8h	168.85	long leg	$15.1M	$39.2M	50x
QFEX MSTR-USD	+0.0035%	1h	168.75	−0.059%	$1.4M	$9.1M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.80	−0.030%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.81	−0.024%	—	$1.7M	25x	as long as short
BloFin MSTR-USDT	+0.0047%	8h	168.89	+0.024%	$1.1M	$1.9M	20x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.76	−0.053%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	168.84	−0.006%	$44K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.44	−0.243%	$736K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.231%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0092%	8h	168.81	−0.025%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.80	−0.031%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.76	−0.053%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.68	−0.101%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.82	−0.018%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.78	−0.042%	$140	—	10x	as long as short
edgeX MSTRUSDC	+0.0166%	4h	168.67	−0.105%	$47K	$5.5M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0206%	1h	168.79	−0.036%	$56.9M	$35.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.290%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.64	−0.127%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.82	−0.018%	$275K	$433K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0936%	1h	168.83	−0.012%	$287K	$438K	10x	as long as short