Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h +0.077%

Price spread now: BloFin against Aevo+0.137%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 BloFin

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. BloFin is 0.137% dearer against Aevo than usual: you sell high and buy low (spread +0.137% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSTR-PERP	169.58	0.0104	pay 0.0013% / 1h	57m 00s	$141	—	10x
Short	BloFin MSTR-USDT	169.81	0.0057	get 0.0057% / 8h	7h 57m	$1.1M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.137%Rate

Funding earned: −$9.77
Price spread: +0.137% → 0.000%: $13.71
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$24.06
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; BloFin: live order book, 11 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 BloFin live order book, 11 min ago	0.59 bp	7.3 bp −$7	9.3 bp −$93	18.6 bp −$1,863	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
Nado MSTR-PERP	−0.0116%	1h	169.83	+0.149%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.60	+0.014%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.68	+0.060%	$22.0M	$104.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.73	+0.090%	$4.7M	$18.8M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.44	−0.080%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.66	+0.049%	$2.9M	$66K	10x	as long as short
Bitget MSTRUSDT	+0.0031%	8h	169.69	+0.066%	$28.7M	$116.5M	25x	as long as short
Lighter MSTR	+0.0032%	1h	169.72	+0.084%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	−0.060%	$581K	$1.7M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	169.85	+0.161%	$1.5M	$10.2M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus MSTR-USD	+0.0040%	1h	169.64	+0.037%	$27K	$123K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	170.06	+0.285%	—	$2.1M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.55	−0.015%	$77K	$871K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.65	+0.043%	$400K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	+0.090%	$764K	$5.2M	10x	as long as short
BloFin MSTR-USDTshort	+0.0057%	8h	169.81	+0.137%	$1.1M	$1.9M	20x
Binance MSTRUSDT	+0.0070%	8h	169.68	+0.060%	$89.6M	$625.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.488%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0094%	8h	169.77	+0.112%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.82	+0.146%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.66	+0.049%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.29	−0.170%	$4K	$223K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.80	+0.131%	$3K	$8K	10x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	169.58	long leg	$141	—	10x
Bybit MSTRUSDT	+0.0136%	8h	169.72	+0.084%	$15.2M	$40.0M	50x	as long as short
SoDEX MSTR-USD	+0.0197%	1h	169.77	+0.114%	$45K	$3K	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.49	−0.052%	$13K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.47	−0.062%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.88	+0.181%	$277K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0365%	4h	169.54	−0.022%	$48K	$5.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0378%	1h	169.67	+0.055%	$57.3M	$37.0M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0457%	1h	169.79	+0.125%	$289K	$438K	10x	as long as short