Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Pacifica+0.028%7-day average +0.036% · you sell dearer than you buy

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

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.291%−$29 on $10k

Price spread, last 4 days (all we have)−0.282%−$28 · spread now +0.028%, 7d avg +0.036%

Together, before fees−0.573%+ Points / potential airdropPacifica: Active · farm board−$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	162.33	0.0100	pay 0.0013% / 1h	27m 47s	$99K	$88K	10x
Short	Phemex MSTRUSDT	162.38	0	get 0.0000% / 4h	3h 27m	$2.7M	$86K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$21
Price spread: +0.028% → +0.036%: −$0.81
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.81
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 41 min ago; Phemex: live order book, 6 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 Pacifica live order book, 41 min ago	1.04 bp	5.0 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	3.99 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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
Gate MSTR_USDT	0.0000%	8h	162.40	+0.041%	$4.7M	$18.7M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	162.48	+0.090%	$30.5M	$118.0M	25x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	162.38	+0.028%	$2.7M	$86K	10x
Extended MSTR_24_5-USD	+0.0032%	1h	162.12	−0.132%	$590K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	+0.170%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.48	+0.090%	$26K	$114K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.16	−0.107%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.00	−0.206%	$375K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.31	−0.015%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.37	+0.022%	$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	162.30	−0.021%	$1.3M	$7.0M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	162.33	long leg	$99K	$88K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	162.36	+0.016%	$2.3M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.55	+0.133%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.31	−0.015%	$3K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.33	−0.001%	$135	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	162.26	−0.046%	$1.4M	$1.1M	10x	as long as short
Aster MSTRUSDT	+0.0122%	8h	162.34	+0.004%	$1.7M	$8.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0170%	8h	162.38	+0.027%	$65	—	5x	as long as short
Lighter MSTR	+0.0176%	1h	162.40	+0.041%	$3.4M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0184%	1h	162.12	−0.134%	$124K	$157K	3x	as long as short
OKX MSTR-USDT-SWAP	+0.0229%	8h	162.41	+0.047%	$20.8M	$96.9M	50x	as long as short
Variational Omni MSTR	+0.0240%	8h	162.69	+0.218%	$1.2M	$2.0M	—	as long as short
Binance MSTRUSDT	+0.0314%	8h	162.41	+0.044%	$84.3M	$617.2M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0342%	8h	162.74	+0.251%	$84K	$846K	10x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	162.38	+0.029%	$267K	$398K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0414%	1h	162.36	+0.016%	$53.4M	$37.6M	10x	as long as short
BloFin MSTR-USDT	+0.0438%	8h	162.55	+0.133%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0460%	1h	162.62	+0.174%	$55K	$223K	10x	as long as short
Bybit MSTRUSDT	+0.0519%	8h	162.46	+0.078%	$17.0M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0861%	1h	162.26	−0.046%	$276K	$430K	10x	as long as short
edgeX MSTRUSDC	+0.0901%	4h	162.71	+0.233%	$46K	$5.4M	10x	as long as short