Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.043%

Price spread now: Binance against RISEx−0.027%7-day average +0.034% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on RISEx Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.267%−$27 on $10k

Price spread, last 4 days (all we have)+0.785%+$78 · spread now −0.027%, 7d avg +0.034%

Together, before fees+0.518%+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.061% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	162.82	0.0381	pay 0.0048% / 1h	41m 48s	$262K	$437K	10x
Short	Binance MSTRUSDT	162.77	0.0225	get 0.0225% / 8h	1h 41m	$83.6M	$628.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.027%Rate

Funding earned: −$32.85
Price spread: −0.027% → +0.034%: −$6.13
Slippage, 4 orders: −$5.35
Fee RISEx: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$60.34
Costs to cover: 0.214%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Binance: live order book, 2 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, 2 min ago	1.53 bp	4.5 bp −$5	6.2 bp −$62	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.31 bp	6.3 bp −$6	9.2 bp −$92	33.1 bp −$3,313	120.2 bp −$60.1K

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	−0.0898%	8h	163.01	+0.119%	$28.7M	$119.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.85	+0.021%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.32	+0.310%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0025%	8h	162.77	−0.026%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.62	−0.123%	$501K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.007%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.03	+0.132%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.47	−0.212%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.72	−0.059%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.74	−0.046%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.77	−0.028%	$841K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.74	−0.046%	$1.3M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.78	−0.022%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.77	−0.028%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.84	+0.015%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.84	+0.015%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.85	+0.022%	$135	—	10x	as long as short
Lighter MSTR	+0.0128%	1h	162.81	−0.003%	$3.5M	$2.0M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0134%	8h	162.88	+0.040%	$20.7M	$100.3M	50x	as long as short
Variational Omni MSTR	+0.0147%	8h	162.88	+0.037%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0150%	8h	162.74	−0.047%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.796%	$1.4M	$1.1M	10x	as long as short
edgeX MSTRUSDC	+0.0172%	4h	162.89	+0.047%	$46K	$5.4M	10x	as long as short
Binance MSTRUSDTshort	+0.0225%	8h	162.77	−0.027%	$83.6M	$628.6M	50x
GRVT MSTR_USDT_Perp	+0.0232%	8h	163.04	+0.137%	$79K	$876K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0236%	1h	162.77	−0.028%	$54.0M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.99	+0.105%	$55K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0335%	1h	162.75	−0.043%	$130K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0344%	8h	162.97	+0.095%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.83	+0.009%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDClong	+0.0381%	1h	162.82	long leg	$262K	$437K	10x
Deribit MSTR_USDC-PERPETUAL	+0.0795%	1h	162.86	+0.027%	$277K	$437K	10x	as long as short