Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.082%

Price spread now: BloFin against Coinbase International+0.047%58s7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.376% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.047%, 7d avg +0.083%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.036% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.047% now, against its 7-day average of +0.083%). If the spread goes back, that is −$4 on $10k: about 6.0 days of funding at the current rate (+$1 a day). The two prices were read 58 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	Coinbase International MSTR-PERP-INTX	170.00	0.0048	pay 0.0006% / 1h	31m 43s	$1.5M	$1.1M	10x
Short	BloFin MSTR-USDT	170.08	0.0068	get 0.0068% / 8h	3h 31m	$1.1M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.047%Rate

Funding earned: $4.21
Price spread: +0.047% → +0.083%: −$3.59
Slippage, 4 orders: −$15.64
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$37.02
Costs to cover: 0.376%
Break-even: 68.6 days

Slippage from Coinbase International: live order book, 2 min ago; BloFin: live order book, 2 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	3.24 bp	8.2 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.59 bp	8.5 bp −$9	11.2 bp −$112	27.4 bp −$2,742	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	−0.0036%	1h	169.87	−0.074%	$140K	$107K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	170.05	+0.027%	$295K	$474K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	170.07	+0.041%	$4.9M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	170.04	+0.024%	$2.9M	$52K	10x	as long as short
Variational Omni MSTR	+0.0013%	8h	169.83	−0.101%	$1.2M	$2.4M	—	as long as short
Lighter MSTR	+0.0032%	1h	169.96	−0.024%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.99	−0.004%	$584K	$1.9M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0040%	8h	169.87	−0.076%	$80K	$950K	10x	as long as short
QFEX MSTR-USD	+0.0044%	1h	170.13	+0.076%	$1.5M	$10.1M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	170.33	+0.194%	—	$2.0M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSTR-PERP-INTXlong	+0.0048%	1h	170.00	long leg	$1.5M	$1.1M	10x
Polymarket Perps MSTR-USD	+0.0050%	1h	169.87	−0.076%	$411K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.79	−0.124%	$804K	$4.9M	10x	as long as short
BloFin MSTR-USDTshort	+0.0068%	8h	170.08	+0.047%	$1.1M	$1.7M	20x
Paradex MSTR-USD-PERP	+0.0075%	8h	170.00	+0.002%	$68	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0080%	8h	170.04	+0.024%	$22.3M	$108.3M	50x	as long as short
Aster MSTRUSDT	+0.0081%	8h	170.05	+0.029%	$1.3M	$6.2M	50x	as long as short
Phoenix MSTR	+0.0090%	1h	169.79	−0.125%	$57K	$389K	10x	as long as short
SoDEX MSTR-USD	+0.0093%	1h	170.07	+0.041%	$45K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0095%	8h	170.01	+0.005%	$89.4M	$625.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0100%	1h	169.97	−0.018%	$57.2M	$37.0M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.94	−0.033%	$104K	$153K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.93	−0.041%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.77	−0.135%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	170.08	+0.047%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	170.10	+0.061%	$141	—	10x	as long as short
Bitget MSTRUSDT	+0.0157%	8h	170.03	+0.018%	$29.0M	$118.3M	25x	as long as short
Injective MSTR/USDC PERP	+0.0171%	1h	169.97	−0.018%	$13K	$22K	30x	as long as short
Bybit MSTRUSDT	+0.0234%	8h	170.04	+0.024%	$15.6M	$42.2M	50x	as long as short
Arcus MSTR-USD	+0.0451%	1h	170.20	+0.118%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0633%	1h	170.03	+0.018%	$289K	$439K	10x	as long as short
edgeX MSTRUSDC	+0.0946%	4h	169.90	−0.058%	$48K	$5.4M	10x	as long as short