Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h +0.039%

Price spread now: Binance against Coinbase International+0.085%7-day average +0.184% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 2 days (all we have)−0.083%−$8 · spread now +0.085%, 7d avg +0.184%

Together, before fees−0.229%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.098% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.184%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	164.09	0.0200	pay 0.0025% / 1h	54m 10s	$1.4M	$1.1M	10x
Short	Binance MSTRUSDT	164.23	0.0083	get 0.0083% / 8h	5h 54m	$87.7M	$618.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.085%Rate

Funding earned: −$24.62
Price spread: +0.085% → +0.184%: −$9.82
Slippage, 4 orders: −$8.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$62.77
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Binance: 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 Coinbase International live order book, 4 min ago	3.04 bp	9.1 bp −$9	14.3 bp −$143	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.30 bp	5.7 bp −$6	9.9 bp −$99	30.0 bp −$2,996	72.9 bp −$36.4K

MSTR on 31 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	−0.1215%	8h	164.36	+0.165%	$27.5M	$114.4M	25x	as long as short
Gate MSTR_USDT	−0.0074%	8h	164.21	+0.073%	$4.6M	$18.4M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.16	+0.042%	$1.2M	$7.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.19	+0.061%	$20.8M	$99.1M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.23	+0.085%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0014%	8h	164.41	+0.194%	$1.2M	$2.0M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.16	+0.043%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.10	+0.009%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.199%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.33	+0.146%	$26K	$112K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.06	−0.018%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.09	0.000%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.20	+0.067%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.12	+0.018%	$887K	$4.3M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.24	+0.091%	$1.4M	$7.8M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0080%	1h	164.13	+0.024%	$55.0M	$36.6M	10x	as long as short
Binance MSTRUSDTshort	+0.0083%	8h	164.23	+0.085%	$87.7M	$618.2M	50x
Pacifica MSTR	+0.0100%	1h	164.20	+0.069%	$100K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.16	+0.043%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.14	+0.030%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.20	+0.067%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.20	+0.067%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0147%	8h	164.19	+0.063%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0178%	8h	164.25	+0.099%	$77K	$772K	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0200%	1h	164.09	long leg	$1.4M	$1.1M	10x
edgeX MSTRUSDC	+0.0201%	4h	164.18	+0.053%	$50K	$5.4M	10x	as long as short
Nado MSTR-PERP	+0.0218%	1h	164.20	+0.064%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.23	+0.085%	$269K	$447K	10x	as long as short
Bybit MSTRUSDT	+0.0338%	8h	164.27	+0.110%	$17.0M	$40.7M	50x	as long as short
Phoenix MSTR	+0.0381%	1h	164.16	+0.044%	$55K	$227K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0725%	1h	164.25	+0.098%	$279K	$438K	10x	as long as short