Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h +0.026%

Price spread now: Binance against Pacifica−0.085%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 2 days (all we have)+0.094%+$9 · spread now −0.085%, 7d avg +0.018%

Together, before fees+0.049%+ Points / potential airdropPacifica: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.103% cheaper against Pacifica than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	168.51	0.0100	pay 0.0013% / 1h	35m 02s	$104K	$85K	10x
Short	Binance MSTRUSDT	168.37	0.0052	get 0.0052% / 8h	7h 35m	$88.8M	$616.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Pacifica. 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 PacificabpFee BinancebpOrdersPrice spread, now −0.085%Rate

Funding earned: −$10.01
Price spread: −0.085% → +0.018%: −$10.31
Slippage, 4 orders: −$8.21
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$46.53
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from Pacifica: live order book, 37 min ago; Binance: live order book, 9 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 Pacifica live order book, 37 min ago	1.33 bp	5.3 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.59 bp	6.5 bp −$6	10.3 bp −$103	28.1 bp −$2,813	120.9 bp −$60.4K

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	−0.0060%	1h	168.24	−0.166%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.52	+0.005%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.37	−0.086%	$21.7M	$101.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.46	−0.033%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.42	−0.056%	$28.5M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.67	+0.091%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.69	+0.104%	$85K	$860K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.48	−0.021%	$2.8M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.36	−0.092%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.20	−0.187%	$579K	$1.8M	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	+0.0035%	1h	168.49	−0.015%	$1.4M	$9.4M	10x	as long as short
Bybit MSTRUSDT	+0.0039%	8h	168.37	−0.086%	$15.1M	$39.3M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.76	+0.145%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.40	−0.068%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.33	−0.110%	$395K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.42	−0.056%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.46	−0.033%	$761K	$5.0M	10x	as long as short
Binance MSTRUSDTshort	+0.0052%	8h	168.37	−0.085%	$88.8M	$616.2M	50x
BloFin MSTR-USDT	+0.0077%	8h	168.43	−0.050%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.033%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0090%	8h	168.49	−0.015%	$67	—	5x	as long as short
Pacifica MSTRlong	+0.0100%	1h	168.51	long leg	$104K	$85K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	168.49	−0.015%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.66	+0.086%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.51	−0.003%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.49	−0.013%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0205%	1h	168.34	−0.104%	$56.9M	$35.3M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.490%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.74	+0.132%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.55	+0.019%	$274K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0572%	4h	168.81	+0.177%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0641%	1h	168.46	−0.033%	$286K	$438K	10x	as long as short