Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.068%

Price spread now: Phemex against tradeXYZ+0.253%7-day average +0.068% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.348%−$35 on $10k

Price spread, last 3 days (all we have)−0.285%−$29 · spread now +0.253%, 7d avg +0.068%

Together, before fees−0.633%+ Points / potential airdroptradeXYZ: Active · farm board−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.185% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.253% now, against its 7-day average of +0.068%): +$18 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	165.96	0.0252	pay 0.0032% / 1h	59m 47s	$56.1M	$35.9M	10x
Short	Phemex MSTRUSDT	166.38	0	get 0.0000% / 4h	2h 59m	$2.8M	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.253%Rate

Funding earned: −$53
Price spread: +0.253% → +0.068%: $18.46
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$64.53
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 10 min ago; Phemex: live order book, 4 min ago. Net counts fees only.

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	0.30 bp	9.3 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.29 bp	doesn't fit	doesn't fit	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
Gate MSTR_USDT	−0.0263%	8h	166.09	+0.078%	$4.6M	$19.3M	50x	as long as short
BloFin MSTR-USDT	−0.0029%	8h	166.03	+0.042%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.82	−0.086%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.00	+0.027%	$87.5M	$617.0M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.07	+0.066%	$21.3M	$100.0M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.09	+0.078%	$27.3M	$114.1M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	166.01	+0.028%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	166.87	+0.548%	$84K	$812K	10x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	166.38	+0.253%	$2.8M	$67K	10x
Lighter MSTR	+0.0032%	1h	165.93	−0.018%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.89	−0.039%	$571K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.08	+0.072%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.46	+0.301%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.80	−0.096%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.00	+0.024%	$389K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.99	+0.018%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.90	−0.036%	$768K	$4.8M	10x	as long as short
Nado MSTR-PERP	+0.0075%	1h	165.90	−0.035%	$134K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	165.95	−0.006%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.10	+0.086%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.89	−0.042%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.29	+0.199%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.99	+0.018%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.98	+0.012%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0111%	8h	166.02	+0.036%	$66	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+2.037%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTRlong	+0.0252%	1h	165.96	long leg	$56.1M	$35.9M	10x
Phoenix MSTR	+0.0259%	1h	166.44	+0.291%	$56K	$384K	10x	as long as short
Bybit MSTRUSDT	+0.0301%	8h	166.13	+0.102%	$16.7M	$40.4M	50x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.07	+0.066%	$271K	$435K	10x	as long as short
edgeX MSTRUSDC	+0.0663%	4h	166.58	+0.373%	$43K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1137%	1h	166.07	+0.066%	$282K	$438K	10x	as long as short