Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h −0.011%

Price spread now: Pacifica against Variational Omni−0.052%52s7-day average −0.078% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.121%+$12 on $10k

Price spread, last 4 days (all we have)−1.536%−$154 · spread now −0.052%, 7d avg −0.078%

Together, before fees−1.414%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$141 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 Pacifica is 0.025% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.078%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	165.63	0.0040	pay 0.0040% / 8h	5h 10m	$1.2M	$2.1M	—
Short	Pacifica MSTR	165.55	0.0100	get 0.0013% / 1h	10m 58s	$101K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now −0.052%Rate

Funding earned: $12.51
Price spread: −0.052% → −0.078%: $2.53
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $7.04
Costs to cover: 0.080%
Break-even: 3.1 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Pacifica: live order book, 51 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 Variational Omni RFQ quote, 3 min ago	2.96 bp	doesn't fit	12.1 bp −$121	doesn't fit	doesn't fit
Sell Pacifica live order book, 51 min ago	0.73 bp	12.4 bp −$12	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
Bitget MSTRUSDT	−0.0917%	8h	165.92	+0.173%	$27.8M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.63	−0.004%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.85	+0.131%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.79	+0.095%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0003%	8h	165.85	+0.131%	$20.8M	$100.3M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.66	+0.016%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.69	+0.038%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.238%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.57	−0.038%	$27K	$110K	10x	as long as short
Variational Omni MSTRlong	+0.0040%	8h	165.63	long leg	$1.2M	$2.1M	—

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.73	+0.059%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.60	−0.020%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.61	−0.014%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.38	−0.153%	$882K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.57	−0.038%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USD	+0.0079%	1h	165.65	+0.010%	$44K	$3K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	165.55	−0.052%	$101K	$84K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	165.69	+0.035%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.39	−0.147%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.73	+0.059%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.73	+0.060%	$138	—	10x	as long as short
Binance MSTRUSDT	+0.0109%	8h	165.89	+0.155%	$88.4M	$616.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0133%	8h	165.53	−0.060%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0163%	8h	165.50	−0.078%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.074%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0216%	1h	165.44	−0.115%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0229%	8h	165.79	+0.095%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.62	−0.009%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.57	−0.040%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0349%	8h	165.93	+0.179%	$17.3M	$40.6M	50x	as long as short
edgeX MSTRUSDC	+0.0721%	4h	165.59	−0.025%	$51K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0897%	1h	165.77	+0.083%	$282K	$438K	10x	as long as short