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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 06:00 UTC+0.0872%/8h= +95.5% APRpaid last 24h +0.186%
Price spread now: Deribit against Orderly+0.049%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OrderlyShort on Deribit
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—needs both histories
Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Deribit is 0.049% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_MSTR_USDC_mythos163.780.0100pay 0.0100% / 8h2h 49m$4K$8K10x
ShortDeribit MSTR_USDC-PERPETUAL163.860.0972get 0.0122% / 1h49m 57s$279K$438K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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
$183.13
Price spread: +0.049% → 0.000%
$4.88
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$175.02
Costs to cover
0.130%
Break-even
0.3 days
Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 64 min ago. 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 Orderly no order-book sample—————
Sell Deribit live order book, 64 min ago5.77 bp12.3 bp −$1213.5 bp −$135doesn't fitdoesn't fit
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−0.0976%8h163.89+0.067%$27.0M$117.0M25xas long as short
Aster MSTRUSDT0.0000%8h163.79+0.007%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.83+0.031%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.01+0.140%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.59−0.113%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.395%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.85+0.043%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.56−0.134%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.82+0.024%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.71−0.043%$830K$3.9M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0054%1h163.84+0.037%$1.4M$7.2M10xas long as short
OKX MSTR-USDT-SWAP+0.0063%8h163.77−0.006%$20.6M$99.4M50xas long as short
SoDEX MSTR-USD+0.0071%1h163.71−0.043%$43K$3K10xas long as short
RISEx MSTR/USDC+0.0088%1h163.91+0.079%$266K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.84+0.039%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.66−0.073%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.59−0.116%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythoslong+0.0100%8h163.78long leg$4K$8K10x
Variational Omni MSTR+0.0103%8h163.88+0.059%$1.2M$2.1M—as long as short
Aevo MSTR-PERP+0.0104%1h163.81+0.017%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0110%8h163.84+0.035%$66—5xas long as short
GRVT MSTR_USDT_Perp+0.0160%8h163.86+0.049%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.128%$1.4M$1.1M10xas long as short
Binance MSTRUSDT+0.0171%8h163.76−0.012%$85.7M$619.6M50xas long as short
Lighter MSTR+0.0224%1h163.68−0.061%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0287%8h163.93+0.092%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0331%8h163.81+0.018%$16.7M$41.2M50xas long as short
Nado MSTR-PERP+0.0343%1h163.70−0.052%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0351%1h163.71−0.043%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.054%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0496%4h163.67−0.069%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.0972%1h163.86+0.049%$279K$438K10x