Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h +0.020%

Price spread now: Aster against Coinbase International−0.111%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.111%, 7d avg +0.063%

Together, before fees−0.109%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.174% cheaper against Coinbase International than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	162.54	0.0168	pay 0.0021% / 1h	31m 05s	$1.4M	$1.1M	10x
Short	Aster MSTRUSDT	162.36	0	get 0.0000% / 8h	2h 31m	$1.7M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$35.28
Price spread: −0.111% → +0.063%: −$17.42
Slippage, 4 orders: −$17.24
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$87.94
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Aster: 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 Coinbase International live order book, 2 min ago	5.54 bp	10.5 bp −$11	15.5 bp −$155	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.92 bp	5.8 bp −$6	19.1 bp −$191	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	−0.1108%	8h	162.53	−0.006%	$27.0M	$117.7M	25x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	162.36	−0.111%	$1.7M	$8.6M	50x
Gate MSTR_USDT	0.0000%	8h	162.42	−0.074%	$4.6M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.98	+0.271%	$2.7M	$77K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.16	−0.231%	$513K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.184%	$8K	$26K	30x	as long as short
Vest MSTR-USD-PERP	+0.0037%	1h	162.04	−0.308%	—	$1.8M	25x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.73	+0.117%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.30	−0.148%	$375K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.28	−0.160%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.28	−0.160%	$867K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	162.40	−0.086%	$1.4M	$7.2M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.44	−0.062%	$263K	$443K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0093%	8h	162.31	−0.142%	$20.4M	$99.8M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	162.41	−0.082%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.27	−0.166%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.29	−0.154%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.32	−0.135%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.45	−0.054%	$135	—	10x	as long as short
Variational Omni MSTR	+0.0124%	8h	163.00	+0.283%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0153%	8h	162.36	−0.113%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	162.54	long leg	$1.4M	$1.1M	10x
Lighter MSTR	+0.0176%	1h	162.28	−0.160%	$3.4M	$1.9M	10x	as long as short
Binance MSTRUSDT	+0.0197%	8h	162.33	−0.129%	$84.2M	$625.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0207%	8h	162.62	+0.049%	$79K	$831K	10x	as long as short
BloFin MSTR-USDT	+0.0317%	8h	162.41	−0.080%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0362%	1h	162.58	+0.024%	$55K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0364%	1h	162.27	−0.166%	$54.0M	$37.3M	10x	as long as short
Bybit MSTRUSDT	+0.0372%	8h	162.39	−0.092%	$16.6M	$41.4M	50x	as long as short
Nado MSTR-PERP	+0.0384%	1h	162.30	−0.145%	$130K	$156K	3x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0675%	1h	162.36	−0.111%	$276K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0858%	4h	162.53	−0.005%	$48K	$5.4M	10x	as long as short