Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.185%

Price spread now: Pacifica against edgeX−0.107%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)−0.899%−$90 · spread now −0.107%, 7d avg −0.060%

Together, before fees−0.938%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board−$94 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 Pacifica is 0.047% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	166.48	0.0217	pay 0.0108% / 4h	1h 52m	$48K	$4.9M	10x
Short	Pacifica MSTR	166.31	0.0100	get 0.0013% / 1h	52m 58s	$102K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. 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 edgeXbpFee PacificabpOrdersPrice spread, now −0.107%Rate

Funding earned: −$24.52
Price spread: −0.107% → −0.060%: −$4.65
Slippage, 4 orders: −$31.94
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$78.11
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Pacifica: live order book, 57 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 edgeX live order book, 4 min ago	10.51 bp	17.0 bp −$17	23.7 bp −$237	doesn't fit	doesn't fit
Sell Pacifica live order book, 57 min ago	1.09 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.759%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.38	−0.062%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.39	−0.056%	$32.0M	$106.0M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.40	−0.050%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.37	−0.068%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.23	−0.151%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.61	+0.076%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.31	−0.104%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.32	−0.098%	$384K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.41	−0.044%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.25	−0.140%	$876K	$3.3M	10x	as long as short
Nado MSTR-PERP	+0.0053%	1h	166.27	−0.128%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.422%	$1.4M	$390K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	166.31	−0.107%	$102K	$74K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	166.37	−0.068%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.26	−0.134%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.40	−0.050%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.42	−0.037%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0112%	8h	166.38	−0.062%	$67	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0191%	1h	166.29	−0.116%	$54.9M	$34.4M	10x	as long as short
edgeX MSTRUSDClong	+0.0217%	4h	166.48	long leg	$48K	$4.9M	10x
Bybit MSTRUSDT	+0.0227%	8h	166.35	−0.080%	$17.2M	$38.1M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0231%	1h	166.42	−0.038%	$283K	$209K	10x	as long as short
Aster MSTRUSDT	+0.0262%	8h	166.36	−0.076%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0290%	8h	166.33	−0.092%	$21.6M	$84.0M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.49	+0.004%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0348%	8h	166.45	−0.018%	$1.2M	$1.6M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.38	−0.059%	$274K	$353K	10x	as long as short
Binance MSTRUSDT	+0.0448%	8h	166.33	−0.092%	$87.2M	$539.1M	50x	as long as short
BloFin MSTR-USDT	+0.0578%	8h	166.39	−0.056%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0596%	8h	166.55	+0.038%	$87K	$855K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.47	−0.008%	$26K	$71K	10x	as long as short