Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h −0.005%

Price spread now: BloFin against RISEx−0.024%7-day average −0.008% · 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−$28as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.154%−$15 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now −0.024%, 7d avg −0.008%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.154%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	165.90	0.0436	pay 0.0054% / 1h	26m 32s	$274K	$350K	10x
Short	BloFin MSTR-USDT	165.86	0.0607	get 0.0607% / 8h	5h 26m	$1.1M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.024%Rate

Funding earned: $35.86
Price spread: −0.024% → −0.008%: −$1.6
Slippage, 4 orders: −$8.36
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $7.9
Costs to cover: 0.264%
Break-even: 5.5 days

Slippage from RISEx: live order book, 20 min ago; BloFin: live order book, 4 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, 20 min ago	2.11 bp	5.1 bp −$5	5.9 bp −$59	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.60 bp	8.5 bp −$8	10.7 bp −$107	23.2 bp −$2,319	doesn't fit

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	−0.410%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.79	−0.066%	$4.9M	$17.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	165.80	−0.060%	$32.1M	$103.9M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.82	−0.048%	$2.8M	$82K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.71	−0.115%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.72	−0.108%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.85	−0.030%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	165.75	−0.090%	$1.3M	$5.9M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.78	−0.072%	$379K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.81	−0.054%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.75	−0.090%	$858K	$3.3M	10x	as long as short
Nado MSTR-PERP	+0.0061%	1h	165.75	−0.092%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.80	−0.060%	$1.4M	$358K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.73	−0.103%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.77	−0.078%	$2.3M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.74	−0.096%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.82	−0.048%	$2K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.90	−0.002%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0105%	8h	165.76	−0.085%	$66	—	5x	as long as short
Bybit MSTRUSDT	+0.0188%	8h	165.79	−0.066%	$16.5M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0241%	1h	165.77	−0.078%	$54.8M	$33.9M	10x	as long as short
Aster MSTRUSDT	+0.0281%	8h	165.84	−0.037%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0284%	8h	165.75	−0.090%	$21.8M	$81.3M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	165.90	+0.002%	$55K	$213K	10x	as long as short
Variational Omni MSTR	+0.0379%	8h	165.88	−0.014%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDClong	+0.0436%	1h	165.90	long leg	$274K	$350K	10x
Binance MSTRUSDT	+0.0462%	8h	165.85	−0.030%	$87.2M	$524.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0534%	1h	165.84	−0.036%	$282K	$189K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0582%	8h	165.86	−0.024%	$81K	$878K	10x	as long as short
BloFin MSTR-USDTshort	+0.0607%	8h	165.86	−0.024%	$1.1M	$2.0M	20x
Arcus MSTR-USD	+0.0824%	1h	165.88	−0.012%	$26K	$71K	10x	as long as short
edgeX MSTRUSDC	+0.0833%	4h	165.85	−0.029%	$48K	$4.7M	10x	as long as short