Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h −0.108%

Price spread now: Aster against RISEx+0.002%55s7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.487% of the position

Long on RISEx Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.291%−$29 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.002%, 7d avg −0.034%

Together, before fees−0.502%+ Points / potential airdropAster: Stage 5 · farm board−$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 0.036% dearer against RISEx than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.034%. Mind the row above: over the last 3 days funding on this pair cost −0.291%, so the current rate has only just turned in your favour. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	170.05	0	get 0.0000% / 1h	31m 41s	$295K	$474K	10x
Short	Aster MSTRUSDT	170.05	0.0081	get 0.0081% / 8h	3h 31m	$1.3M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against RISEx. 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 RISExbpFee AsterbpOrdersPrice spread, now +0.002%Rate

Funding earned: $16.97
Price spread: +0.002% → −0.034%: $3.63
Slippage, 4 orders: −$34.65
Fee RISEx: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$28.05
Costs to cover: 0.487%
Break-even: 18.6 days

Slippage from RISEx: live order book, 17 min ago; Aster: live order book, 3 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 RISEx live order book, 17 min ago	2.07 bp	5.1 bp −$5	9.0 bp −$90	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.29 bp	31.9 bp −$32	715.4 bp −$7,154	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
Nado MSTR-PERP	−0.0036%	1h	169.87	−0.101%	$140K	$107K	3x	as long as short
RISEx MSTR/USDClong	0.0000%	1h	170.05	long leg	$295K	$474K	10x
Gate MSTR_USDT	0.0000%	8h	170.07	+0.014%	$4.9M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	170.04	−0.003%	$2.9M	$52K	10x	as long as short
Variational Omni MSTR	+0.0013%	8h	169.83	−0.128%	$1.2M	$2.4M	—	as long as short
Lighter MSTR	+0.0032%	1h	169.96	−0.050%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.99	−0.030%	$584K	$1.9M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0040%	8h	169.87	−0.103%	$80K	$950K	10x	as long as short
QFEX MSTR-USD	+0.0044%	1h	170.13	+0.050%	$1.5M	$10.1M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	170.33	+0.167%	—	$2.0M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	170.00	−0.027%	$1.5M	$1.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.87	−0.103%	$411K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.79	−0.150%	$804K	$4.9M	10x	as long as short
BloFin MSTR-USDT	+0.0068%	8h	170.08	+0.020%	$1.1M	$1.7M	20x	as long as short
Paradex MSTR-USD-PERP	+0.0075%	8h	170.00	−0.024%	$68	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0080%	8h	170.04	−0.003%	$22.3M	$108.3M	50x	as long as short
Aster MSTRUSDTshort	+0.0081%	8h	170.05	+0.002%	$1.3M	$6.2M	50x
Phoenix MSTR	+0.0090%	1h	169.79	−0.151%	$57K	$389K	10x	as long as short
SoDEX MSTR-USD	+0.0093%	1h	170.07	+0.014%	$45K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0095%	8h	170.01	−0.022%	$89.4M	$625.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0100%	1h	169.97	−0.044%	$57.2M	$37.0M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.94	−0.059%	$104K	$153K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.93	−0.068%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.77	−0.162%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	170.08	+0.020%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	170.10	+0.034%	$141	—	10x	as long as short
Bitget MSTRUSDT	+0.0157%	8h	170.03	−0.009%	$29.0M	$118.3M	25x	as long as short
Injective MSTR/USDC PERP	+0.0171%	1h	169.97	−0.044%	$13K	$22K	30x	as long as short
Bybit MSTRUSDT	+0.0234%	8h	170.04	−0.003%	$15.6M	$42.2M	50x	as long as short
Arcus MSTR-USD	+0.0451%	1h	170.20	+0.091%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0633%	1h	170.03	−0.009%	$289K	$439K	10x	as long as short
edgeX MSTRUSDC	+0.0946%	4h	169.90	−0.085%	$48K	$5.4M	10x	as long as short