Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.017%

Price spread now: Bitget against Vest−0.180%51s7-day average +0.425% · you buy dearer than you sell

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

Long on Vest Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.034%−$3 on $10k

Price spread, last 7 days+0.196%+$20 · spread now −0.180%, 7d avg +0.425%

Together, before fees+0.162%+ Points / potential airdropVest: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.605% cheaper against Vest than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of +0.425%). Swap the legs. The two prices were read 51 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	Vest MSTR-USD-PERP	166.62	0.0046	pay 0.0006% / 1h	49m 35s	—	$1.7M	25x
Short	Bitget MSTRUSDT	166.32	0	get 0.0000% / 8h	5h 49m	$32.0M	$105.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee BitgetbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$9.59
Price spread: −0.180% → +0.425%: −$60.51
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$84.11
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bitget: live order book, 3 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 Vest no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	0.30 bp	8.5 bp −$8	12.5 bp −$125	40.2 bp −$4,021	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.840%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.33	−0.174%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDTshort	0.0000%	8h	166.32	−0.180%	$32.0M	$105.7M	25x
Phemex MSTRUSDT	0.0000%	4h	166.36	−0.156%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.21	−0.246%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.15	−0.281%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	166.62	long leg	—	$1.7M	25x
Nado MSTR-PERP	+0.0048%	1h	166.34	−0.171%	$127K	$127K	3x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.24	−0.228%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.44	−0.108%	$384K	$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	166.38	−0.144%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.09	−0.318%	$875K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.504%	$1.4M	$386K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.12	−0.298%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.30	−0.192%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.09	−0.318%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.36	−0.156%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.40	−0.134%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0116%	8h	166.29	−0.201%	$67	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	166.24	−0.228%	$54.9M	$34.4M	10x	as long as short
Bybit MSTRUSDT	+0.0216%	8h	166.30	−0.192%	$17.2M	$38.0M	50x	as long as short
Aster MSTRUSDT	+0.0273%	8h	166.33	−0.173%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0295%	8h	166.26	−0.216%	$21.6M	$83.7M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.49	−0.079%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0364%	8h	166.38	−0.142%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.27	−0.210%	$274K	$351K	10x	as long as short
Binance MSTRUSDT	+0.0461%	8h	166.25	−0.222%	$87.2M	$536.0M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0532%	1h	166.36	−0.156%	$283K	$209K	10x	as long as short
BloFin MSTR-USDT	+0.0586%	8h	166.42	−0.120%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0608%	8h	166.43	−0.113%	$87K	$855K	10x	as long as short
edgeX MSTRUSDC	+0.0734%	4h	166.28	−0.202%	$48K	$4.9M	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.36	−0.156%	$26K	$71K	10x	as long as short