Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0121%/8h= +13.2% APRpaid last 24h +0.032%

Price spread now: tradeXYZ against Orderly−0.036%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 tradeXYZ

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 airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.036% cheaper against Orderly than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 24 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	166.16	0.0100	pay 0.0100% / 8h	5h 42m	$3K	$10K	10x
Short	tradeXYZ xyz:MSTR	166.10	0.0221	get 0.0028% / 1h	42m 59s	$54.9M	$34.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.036%Rate

Funding earned: $25.37
Price spread: −0.036% → 0.000%: −$3.61
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$2.24
Costs to cover: 0.240%
Break-even: 7.6 days

Slippage unknown: Orderly: no order-book sample; tradeXYZ: live order book, 10 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 tradeXYZ live order book, 10 min ago	0.60 bp	9.6 bp −$10	11.6 bp −$116	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 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	−0.566%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.27	+0.066%	$4.9M	$17.7M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.25	+0.054%	$32.1M	$105.0M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.22	+0.036%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.02	−0.084%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.03	−0.075%	$509K	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0045%	1h	165.96	−0.119%	$127K	$127K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.26	+0.060%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.01	−0.090%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.10	−0.036%	$387K	$2.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	166.11	−0.030%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.99	−0.102%	$870K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.229%	$1.4M	$364K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.15	−0.004%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.13	−0.018%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.95	−0.126%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	166.16	long leg	$3K	$10K	10x
Aevo MSTR-PERP	+0.0104%	1h	166.17	+0.005%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0115%	8h	166.15	−0.005%	$66	—	5x	as long as short
Bybit MSTRUSDT	+0.0204%	8h	166.24	+0.048%	$17.1M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTRshort	+0.0221%	1h	166.10	−0.036%	$54.9M	$34.4M	10x
Aster MSTRUSDT	+0.0286%	8h	166.13	−0.016%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0299%	8h	166.20	+0.024%	$21.6M	$83.2M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.29	+0.077%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0373%	8h	166.18	+0.014%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.18	+0.012%	$274K	$350K	10x	as long as short
Binance MSTRUSDT	+0.0471%	8h	166.20	+0.026%	$87.2M	$532.5M	50x	as long as short
BloFin MSTR-USDT	+0.0609%	8h	166.22	+0.036%	$1.1M	$2.0M	20x	as long as short
edgeX MSTRUSDC	+0.0638%	4h	166.08	−0.045%	$48K	$4.9M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0641%	8h	166.25	+0.053%	$79K	$853K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0654%	1h	166.12	−0.024%	$283K	$204K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.20	+0.024%	$26K	$71K	10x	as long as short