Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1018%/8h= −111.5% APRpaid last 24h +0.004%

Price spread now: Bitget against Aevo+0.181%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bitget is 0.181% dearer against Aevo than usual: you sell high and buy low (spread +0.181% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSTR-PERP	162.55	0.0104	pay 0.0013% / 1h	38m 54s	$135	—	10x
Short	Bitget MSTRUSDT	162.84	−0.0914	pay 0.0914% / 8h	1h 38m	$28.6M	$119.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$213.78
Price spread: +0.181% → 0.000%: $18.08
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$223.7
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bitget: 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 Aevo no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.31 bp	7.8 bp −$8	11.0 bp −$110	42.8 bp −$4,277	doesn't fit

Aevo: 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 MSTRUSDTshort	−0.0914%	8h	162.84	+0.181%	$28.6M	$119.0M	25x
Gate MSTR_USDT	0.0000%	8h	162.67	+0.076%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.24	+0.427%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0025%	8h	162.53	−0.010%	$1.7M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.41	−0.084%	$505K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.180%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.86	+0.193%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.26	−0.176%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.49	−0.035%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.57	+0.015%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.54	−0.004%	$854K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.54	−0.004%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.55	+0.003%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.54	−0.004%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.65	+0.064%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.54	−0.004%	$2K	$13K	10x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	162.55	long leg	$135	—	10x
Lighter MSTR	+0.0128%	1h	162.54	−0.004%	$3.5M	$2.0M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0136%	8h	162.62	+0.045%	$20.7M	$100.1M	50x	as long as short
Variational Omni MSTR	+0.0144%	8h	162.76	+0.129%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0148%	8h	162.51	−0.024%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.631%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0224%	8h	162.58	+0.023%	$83.5M	$628.3M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0235%	8h	162.80	+0.159%	$78K	$867K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0245%	1h	162.55	+0.002%	$53.9M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.77	+0.138%	$55K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0333%	1h	162.42	−0.078%	$130K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0344%	8h	162.66	+0.070%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0379%	8h	162.61	+0.039%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.60	+0.032%	$261K	$436K	10x	as long as short
edgeX MSTRUSDC	+0.0728%	4h	162.81	+0.165%	$46K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0858%	1h	162.57	+0.015%	$276K	$437K	10x	as long as short