Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Orderly−0.062%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Pacifica

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 airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.062% cheaper against Orderly than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	162.50	0.0100	pay 0.0100% / 8h	7h 29m	$3K	$13K	10x
Short	Pacifica MSTR	162.40	0.0100	get 0.0013% / 1h	29m 01s	$99K	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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

Position, each leg$Hold fordaysFee OrderlybpFee PacificabpOrdersPrice spread, now −0.062%Rate

Funding earned: $0
Price spread: −0.062% → 0.000%: −$6.22
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$20.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 40 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 40 min ago	1.04 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn'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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	−0.0012%	8h	162.49	−0.006%	$30.5M	$118.2M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.52	+0.012%	$4.7M	$18.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.52	+0.012%	$2.7M	$86K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.23	−0.164%	$590K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	+0.068%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.53	+0.018%	$26K	$114K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.31	−0.117%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.38	−0.074%	$375K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.46	−0.025%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.37	−0.080%	$901K	$3.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0061%	1h	162.45	−0.031%	$1.3M	$7.0M	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	162.40	−0.062%	$99K	$88K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	162.41	−0.055%	$2.3M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.55	+0.031%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	162.50	long leg	$3K	$13K	10x
Aevo MSTR-PERP	+0.0104%	1h	162.50	0.000%	$135	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	162.26	−0.148%	$1.4M	$1.1M	10x	as long as short
Aster MSTRUSDT	+0.0124%	8h	162.45	−0.032%	$1.7M	$8.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0170%	8h	162.44	−0.036%	$65	—	5x	as long as short
Lighter MSTR	+0.0176%	1h	162.46	−0.025%	$3.4M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0182%	1h	162.30	−0.125%	$124K	$157K	3x	as long as short
OKX MSTR-USDT-SWAP	+0.0230%	8h	162.47	−0.018%	$20.8M	$97.6M	50x	as long as short
Variational Omni MSTR	+0.0240%	8h	162.69	+0.116%	$1.2M	$2.0M	—	as long as short
Binance MSTRUSDT	+0.0318%	8h	162.46	−0.025%	$84.2M	$617.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0342%	8h	162.74	+0.148%	$84K	$846K	10x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	162.48	−0.015%	$267K	$398K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0414%	1h	162.40	−0.062%	$53.5M	$37.6M	10x	as long as short
BloFin MSTR-USDT	+0.0438%	8h	162.55	+0.031%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0460%	1h	162.62	+0.072%	$55K	$223K	10x	as long as short
Bybit MSTRUSDT	+0.0544%	8h	162.49	−0.006%	$17.0M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0859%	1h	162.48	−0.012%	$276K	$430K	10x	as long as short
edgeX MSTRUSDC	+0.0901%	4h	162.71	+0.131%	$46K	$5.4M	10x	as long as short