Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h +0.006%

Price spread now: Gate against Aevo+0.019%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 Gate

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSTR-PERP	167.86	0.0104	pay 0.0013% / 1h	15m 02s	$139	—	10x
Short	Gate MSTR_USDT	167.89	−0.0085	pay 0.0085% / 8h	7h 15m	$4.7M	$19.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.019%Rate

Funding earned: −$39.69
Price spread: +0.019% → 0.000%: $1.86
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.83
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	2.08 bp	17.0 bp −$17	39.0 bp −$390	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
Gate MSTR_USDTshort	−0.0085%	8h	167.89	+0.019%	$4.7M	$19.1M	50x
Nado MSTR-PERP	−0.0006%	1h	167.70	−0.093%	$128K	$106K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	167.88	+0.012%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	167.86	+0.001%	$21.6M	$100.2M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	167.94	+0.048%	$27.9M	$113.2M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.08	+0.131%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	167.94	+0.050%	$85K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.90	+0.025%	$2.8M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0011%	8h	167.87	+0.005%	$88.4M	$614.1M	50x	as long as short
Lighter MSTR	+0.0032%	1h	167.84	−0.011%	$3.6M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	167.66	−0.115%	$577K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	167.81	−0.029%	$1.4M	$8.9M	10x	as long as short
BloFin MSTR-USDT	+0.0039%	8h	167.94	+0.048%	$1.1M	$1.9M	20x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.16	+0.179%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.75	−0.065%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	167.79	−0.041%	$394K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	167.89	+0.019%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	167.81	−0.029%	$766K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.06	+0.120%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	167.90	+0.022%	$104K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	167.78	−0.047%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.82	−0.023%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.87	+0.007%	$3K	$8K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0100%	8h	167.83	−0.016%	$67	—	5x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	167.86	long leg	$139	—	10x
Bybit MSTRUSDT	+0.0147%	8h	167.95	+0.054%	$16.0M	$39.4M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0223%	1h	167.84	−0.011%	$56.7M	$36.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.882%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.22	+0.215%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	167.84	−0.011%	$273K	$433K	10x	as long as short
edgeX MSTRUSDC	+0.0582%	4h	168.03	+0.103%	$46K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1062%	1h	167.93	+0.042%	$286K	$438K	10x	as long as short