Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.114%

Price spread now: OKX against RISEx−0.014%7-day average −0.014% · 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−$22as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.279%−$28 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.014%, 7d avg −0.014%

Together, before fees−0.320%−$32 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	168.87	0.0001	pay 0.0000% / 1h	13m 19s	$275K	$441K	10x
Short	OKX MSTR-USDT-SWAP	168.85	0	get 0.0000% / 8h	13m 19s	$21.9M	$106.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$0.18
Price spread: −0.014% → −0.014%: −$0.04
Slippage, 4 orders: −$5.46
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.69
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from RISEx: live order book, 65 min ago; OKX: live order book, 6 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, 65 min ago	1.18 bp	4.2 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.30 bp	7.2 bp −$7	11.7 bp −$117	64.1 bp −$6,406	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	−0.0047%	1h	168.87	−0.005%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.87	−0.005%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAPshort	0.0000%	8h	168.85	−0.014%	$21.9M	$106.0M	50x
Gate MSTR_USDT	0.0000%	8h	168.83	−0.026%	$4.7M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.95	+0.045%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.87	−0.003%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDClong	+0.0001%	1h	168.87	long leg	$275K	$441K	10x
edgeX MSTRUSDC	+0.0011%	4h	168.93	+0.034%	$47K	$5.5M	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.85	−0.014%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.78	−0.054%	$581K	$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
Bitget MSTRUSDT	+0.0033%	8h	168.87	−0.003%	$28.7M	$120.0M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0037%	8h	168.88	+0.004%	$77K	$871K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.92	+0.027%	—	$2.1M	25x	as long as short
Binance MSTRUSDT	+0.0049%	8h	168.86	−0.009%	$89.1M	$629.3M	50x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.84	−0.020%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.84	−0.020%	$394K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.85	−0.014%	$44K	$3K	10x	as long as short
BloFin MSTR-USDT	+0.0050%	8h	168.89	+0.009%	$1.1M	$1.9M	20x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.76	−0.068%	$772K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0069%	8h	168.87	−0.003%	$15.1M	$40.4M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.074%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.87	−0.004%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.82	−0.032%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.89	+0.009%	$4K	$310K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.87	−0.003%	$3K	$11K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0102%	8h	168.84	−0.017%	$68	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	+0.003%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.85	−0.017%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0133%	1h	168.83	−0.026%	$57.0M	$37.2M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0224%	1h	168.88	+0.003%	$287K	$438K	10x	as long as short
Phoenix MSTR	+0.0260%	1h	168.87	−0.006%	$56K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	168.93	+0.033%	$27K	$129K	10x	as long as short