Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h −0.015%

Price spread now: OKX against tradeXYZ+0.102%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days−0.007%−$1 · spread now +0.102%, 7d avg +0.074%

Together, before fees−0.090%+ Points / potential airdroptradeXYZ: Active · farm board−$9 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 OKX is 0.028% dearer against tradeXYZ than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.074%. Mind the row above: over the last 7 days funding on this pair cost −0.083%, 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	tradeXYZ xyz:MSTR	166.10	0.0221	pay 0.0028% / 1h	42m 55s	$54.9M	$34.4M	10x
Short	OKX MSTR-USDT-SWAP	166.27	0.0299	get 0.0299% / 8h	5h 42m	$21.6M	$83.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.102%Rate

Funding earned: $16.4
Price spread: +0.102% → +0.074%: $2.79
Slippage, 4 orders: −$5.9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.71
Costs to cover: 0.339%
Break-even: 13.3 days

Slippage from tradeXYZ: live order book, 10 min ago; OKX: 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 tradeXYZ live order book, 10 min ago	0.60 bp	11.4 bp −$11	13.6 bp −$136	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.30 bp	6.6 bp −$7	10.6 bp −$106	56.7 bp −$5,674	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	−0.530%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.30	+0.120%	$4.9M	$17.7M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.30	+0.120%	$32.1M	$105.0M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.22	+0.072%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.02	−0.048%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.03	−0.039%	$509K	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0045%	1h	165.96	−0.083%	$127K	$127K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.26	+0.096%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.01	−0.054%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.10	0.000%	$387K	$2.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	166.11	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.99	−0.066%	$870K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.193%	$1.4M	$364K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.15	+0.032%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.12	+0.012%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.95	−0.090%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.16	+0.036%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.17	+0.041%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0115%	8h	166.15	+0.031%	$66	—	5x	as long as short
Bybit MSTRUSDT	+0.0204%	8h	166.29	+0.114%	$17.1M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTRlong	+0.0221%	1h	166.10	long leg	$54.9M	$34.4M	10x
Aster MSTRUSDT	+0.0286%	8h	166.17	+0.041%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAPshort	+0.0299%	8h	166.27	+0.102%	$21.6M	$83.2M	50x
Phoenix MSTR	+0.0322%	1h	166.29	+0.113%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0373%	8h	166.18	+0.050%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.18	+0.048%	$274K	$350K	10x	as long as short
Binance MSTRUSDT	+0.0471%	8h	166.24	+0.086%	$87.2M	$532.5M	50x	as long as short
BloFin MSTR-USDT	+0.0609%	8h	166.22	+0.072%	$1.1M	$2.0M	20x	as long as short
edgeX MSTRUSDC	+0.0638%	4h	166.08	−0.009%	$48K	$4.9M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0641%	8h	166.25	+0.089%	$79K	$853K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0654%	1h	166.12	+0.012%	$283K	$204K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.20	+0.060%	$26K	$71K	10x	as long as short