Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.065%

Price spread now: BloFin against Extended+0.059%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$16 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.059%, 7d avg +0.094%

Together, before fees+0.100%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.035% cheaper against Extended than usual: you would sell low and buy high (spread +0.059% now, against its 7-day average of +0.094%). If the spread goes back, that is −$3 on $10k: about 3.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.165% in total) that is about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSTR_24_5-USD	168.99	0.0032	pay 0.0004% / 1h	48m 28s	$581K	$1.7M	10x
Short	BloFin MSTR-USDT	169.09	0.0063	get 0.0063% / 8h	7h 48m	$1.1M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.059%Rate

Funding earned: $6.46
Price spread: +0.059% → +0.094%: −$3.48
Slippage, 4 orders: −$10.35
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$24.37
Costs to cover: 0.274%
Break-even: 33.4 days

Slippage from Extended: live order book, 5 min ago; BloFin: live order book, 4 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 Extended live order book, 5 min ago	1.77 bp	5.9 bp −$6	20.4 bp −$204	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.89 bp	8.5 bp −$8	11.5 bp −$115	25.6 bp −$2,556	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	−0.0096%	1h	169.04	+0.027%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.09	+0.059%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.15	+0.095%	$21.9M	$103.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.15	+0.095%	$4.7M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	169.14	+0.089%	$28.6M	$115.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	−0.018%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.10	+0.065%	$2.9M	$66K	10x	as long as short
Bybit MSTRUSDT	+0.0008%	8h	169.16	+0.101%	$15.2M	$39.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	169.08	+0.053%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	168.99	long leg	$581K	$1.7M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0035%	1h	169.07	+0.047%	$1.4M	$9.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.15	+0.095%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.18	+0.112%	—	$2.0M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.08	+0.053%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.93	−0.036%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.91	−0.047%	$747K	$5.0M	10x	as long as short
BloFin MSTR-USDTshort	+0.0063%	8h	169.09	+0.059%	$1.1M	$1.9M	20x
Binance MSTRUSDT	+0.0070%	8h	169.11	+0.071%	$89.3M	$620.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.142%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	169.08	+0.051%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.07	+0.049%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.06	+0.041%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.89	−0.059%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.00	+0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.10	+0.064%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0172%	1h	169.14	+0.089%	$57.1M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.207%	$8K	$26K	30x	as long as short
GRVT MSTR_USDT_Perp	+0.0256%	8h	169.19	+0.118%	$77K	$859K	10x	as long as short
Phoenix MSTR	+0.0259%	1h	169.17	+0.105%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.13	+0.083%	$275K	$440K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0460%	1h	169.04	+0.030%	$287K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0465%	4h	169.30	+0.184%	$48K	$5.5M	10x	as long as short