Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.041%

Price spread now: Phemex against Variational Omni+0.291%7-day average +0.016% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 3 days (all we have)−0.271%−$27 · spread now +0.291%, 7d avg +0.016%

Together, before fees−0.334%+ Points / potential airdropVariational Omni: Active · farm board−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.275% dearer against Variational Omni than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	166.78	0	get 0.0000% / 8h	7h 03m	$1.2M	$2.0M	—
Short	Phemex MSTRUSDT	167.27	0	get 0.0000% / 4h	3h 03m	$2.8M	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.291%Rate

Funding earned: $0
Price spread: +0.291% → +0.016%: $27.54
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $15.54
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, just now; Phemex: live order book, 5 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, just now	2.96 bp	doesn't fit	9.4 bp −$94	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.09 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	−0.0204%	8h	166.70	−0.050%	$4.7M	$19.2M	50x	as long as short
BloFin MSTR-USDT	−0.0023%	8h	166.80	+0.010%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	166.77	−0.011%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.56	−0.134%	$87.5M	$614.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.50	−0.170%	$21.4M	$99.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.75	−0.020%	$27.6M	$113.8M	25x	as long as short
Variational Omni MSTRlong	0.0000%	8h	166.78	long leg	$1.2M	$2.0M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	167.28	+0.300%	$84K	$812K	10x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	167.27	+0.291%	$2.8M	$67K	10x
Lighter MSTR	+0.0032%	1h	166.47	−0.188%	$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	166.47	−0.188%	$575K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	167.02	+0.141%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.01	+0.135%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.81	+0.016%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.99	+0.123%	$392K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.88	+0.057%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.49	−0.176%	$773K	$4.8M	10x	as long as short
Nado MSTR-PERP	+0.0051%	1h	166.86	+0.045%	$135K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	166.69	−0.056%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.58	−0.124%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.59	−0.116%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.13	+0.207%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.96	+0.105%	$3K	$7K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0104%	8h	166.41	−0.226%	$67	—	5x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.92	+0.083%	$139	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.532%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0239%	1h	166.45	−0.200%	$56.3M	$35.9M	10x	as long as short
Bybit MSTRUSDT	+0.0258%	8h	166.56	−0.134%	$16.7M	$40.2M	50x	as long as short
Phoenix MSTR	+0.0259%	1h	166.74	−0.028%	$56K	$384K	10x	as long as short
edgeX MSTRUSDC	+0.0334%	4h	166.79	+0.006%	$43K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	167.03	+0.148%	$271K	$434K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0829%	1h	167.03	+0.147%	$284K	$438K	10x	as long as short