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Funding arb · Price arb /

MSTR

RWAall MSTR markets
SwapBacktest
Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.015%
Price spread now: Orderly against Extended+0.080%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ExtendedShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.080% dearer against Extended than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended MSTR_24_5-USD163.120.0032pay 0.0004% / 1h36m 26s$502K$2.0M10x
ShortOrderly PERP_MSTR_USDC_mythos163.250.0100get 0.0100% / 8h36m 26s$2K$13K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly 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

Funding earned
$14.28
Price spread: +0.080% → 0.000%
$7.97
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Orderly: 3 bp × 2 orders
−$6
Net
$11.25
Costs to cover
0.110%
Break-even
1.5 days
Slippage unknown: Extended: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 2 min ago2.44 bp6.8 bp −$721.1 bp −$211doesn't fitdoesn't fit
Sell Orderly no order-book sample—————
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0380%8h163.49+0.227%$29.4M$119.0M25xas long as short
Gate MSTR_USDT0.0000%8h163.39+0.166%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.56+0.270%$2.8M$82K10xas long as short
Extended MSTR_24_5-USDlong+0.0032%1h163.12long leg$502K$2.0M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.813%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.80+0.417%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.26+0.086%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.25+0.080%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.42+0.184%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.31+0.116%$864K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0067%1h163.26+0.086%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0079%8h163.22+0.064%$1.8M$8.7M50xas long as short
Lighter MSTR+0.0096%1h163.34+0.135%$3.5M$2.0M10xas long as short
Pacifica MSTR+0.0100%1h163.33+0.127%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.27+0.092%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.92+0.490%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythosshort+0.0100%8h163.25+0.080%$2K$13K10x
Aevo MSTR-PERP+0.0104%1h163.14+0.014%$135—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h161.52−0.981%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0167%8h163.35+0.141%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0201%8h163.36+0.147%$20.9M$99.9M50xas long as short
Variational Omni MSTR+0.0202%8h164.04+0.566%$1.2M$2.0M—as long as short
Binance MSTRUSDT+0.0273%8h163.22+0.062%$84.1M$621.1M50xas long as short
GRVT MSTR_USDT_Perp+0.0282%8h163.75+0.385%$85K$849K10xas long as short
Nado MSTR-PERP+0.0288%1h163.17+0.031%$125K$165K3xas long as short
Phoenix MSTR+0.0357%1h163.61+0.298%$56K$223K10xas long as short
BloFin MSTR-USDT+0.0393%8h163.41+0.178%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0414%8h163.30+0.110%$17.1M$41.7M50xas long as short
RISEx MSTR/USDC+0.0493%1h163.31+0.116%$265K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0509%1h163.31+0.116%$53.9M$37.5M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0607%1h163.47+0.215%$278K$437K10xas long as short
edgeX MSTRUSDC+0.0677%4h163.81+0.421%$46K$5.4M10xas long as short