Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0753%/8h= +82.4% APRpaid last 24h +0.159%

Price spread now: edgeX against Aevo−0.183%72s7-day average — · you buy dearer than you sell

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

Long on Aevo Short on edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.183% cheaper against Aevo than usual: you would sell low and buy high (spread −0.183% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 19 hours of funding at the current rate (+$23 a day). The two prices were read 72 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	Aevo MSTR-PERP	164.50	0.0104	pay 0.0013% / 1h	35m 38s	$137	—	10x
Short	edgeX MSTRUSDC	164.20	0.0857	get 0.0428% / 4h	1h 35m	$49K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.183%Rate

Funding earned: $158.11
Price spread: −0.183% → 0.000%: −$18.31
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $114.81
Costs to cover: 0.250%
Break-even: 1.9 days

Slippage unknown: Aevo: no order-book sample; edgeX: 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 Aevo no order-book sample	—	—	—	—	—
Sell edgeX live order book, 3 min ago	4.87 bp	9.7 bp −$10	16.6 bp −$166	doesn't fit	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 MSTRUSDT	−0.1276%	8h	164.58	+0.051%	$27.6M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.43	−0.038%	$1.8M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.52	+0.014%	$20.8M	$99.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.54	+0.026%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.57	+0.045%	$2.8M	$71K	10x	as long as short
Variational Omni MSTR	+0.0029%	8h	164.54	+0.028%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.48	−0.010%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.38	−0.068%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.944%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.42	−0.046%	$26K	$112K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.26	−0.144%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.38	−0.071%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.46	−0.022%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.34	−0.095%	$855K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.50	+0.002%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0082%	1h	164.40	−0.059%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0095%	8h	164.53	+0.020%	$88.2M	$619.0M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.47	−0.015%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.44	−0.034%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.18	−0.192%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.51	+0.008%	$3K	$8K	10x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	164.50	long leg	$137	—	10x
Paradex MSTR-USD-PERP	+0.0144%	8h	164.52	+0.015%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0153%	8h	164.33	−0.102%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.247%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0210%	8h	164.49	−0.004%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0213%	1h	164.35	−0.092%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.51	+0.008%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.24	−0.157%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0350%	8h	164.58	+0.051%	$17.1M	$40.7M	50x	as long as short
edgeX MSTRUSDCshort	+0.0857%	4h	164.20	−0.183%	$49K	$5.4M	10x
Deribit MSTR_USDC-PERPETUAL	+0.1089%	1h	164.54	+0.026%	$280K	$438K	10x	as long as short