Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0233%/8h= +25.5% APRpaid last 24h +0.068%

Price spread now: BloFin against Vest+0.116%7-day average +0.926% · you sell dearer than you buy

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

Long on Vest Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.116%, 7d avg +0.926%

Together, before fees−0.086%+ Points / potential airdropVest: Active · farm board−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.810% cheaper against Vest than usual: you would sell low and buy high (spread +0.116% now, against its 7-day average of +0.926%). If the spread goes back, that is −$81 on $10k: about 12 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSTR-USD-PERP	164.13	0.0046	pay 0.0006% / 1h	43m 15s	—	$1.7M	25x
Short	BloFin MSTR-USDT	164.32	0.0278	get 0.0278% / 8h	3h 43m	$1.0M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.116%Rate

Funding earned: $48.88
Price spread: +0.116% → +0.926%: −$81.02
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$46.13
Costs to cover: 0.140%
Break-even: 13.6 days

Slippage unknown: Vest: no order-book sample; BloFin: 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 Vest no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	0.61 bp	7.9 bp −$8	10.3 bp −$103	24.3 bp −$2,427	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 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	−0.0884%	8h	164.45	+0.195%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.29	+0.096%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.38	+0.152%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.32	+0.116%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.16	+0.015%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.174%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAP	+0.0036%	8h	164.41	+0.171%	$20.7M	$99.5M	50x	as long as short
edgeX MSTRUSDC	+0.0038%	4h	164.50	+0.223%	$49K	$5.3M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.44	+0.189%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERPlong	+0.0046%	1h	164.13	long leg	—	$1.7M	25x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.22	+0.055%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.28	+0.091%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.27	+0.085%	$855K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.25	+0.073%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.24	+0.067%	$3.5M	$1.9M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.24	+0.066%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.27	+0.085%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.28	+0.091%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.30	+0.104%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	+0.193%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.34	+0.125%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.23	+0.062%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0158%	8h	164.34	+0.126%	$86.9M	$615.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0167%	8h	164.42	+0.175%	$75K	$803K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.21	+0.049%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.29	+0.101%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0247%	1h	164.28	+0.091%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0253%	1h	164.15	+0.009%	$121K	$148K	3x	as long as short
BloFin MSTR-USDTshort	+0.0278%	8h	164.32	+0.116%	$1.0M	$2.0M	20x
Bybit MSTRUSDT	+0.0335%	8h	164.36	+0.140%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.245%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1030%	1h	164.33	+0.122%	$279K	$438K	10x	as long as short