Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0392%/8h= +42.9% APRpaid last 24h −0.034%

Price spread now: edgeX against Arcus+0.010%54s7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.435% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.112%−$11 on $10k

Price spread, last 4 days (all we have)+0.883%+$88 · spread now +0.010%, 7d avg +0.039%

Together, before fees+0.771%+ Points / potential airdropedgeX: Active · farm board+$77 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.029% cheaper against Arcus than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.039%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 3 days funding on this pair cost −0.112%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.112% in total (about -12.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	169.03	0.0457	pay 0.0057% / 1h	32m 05s	$27K	$129K	10x
Short	edgeX MSTRUSDC	169.05	0.0849	get 0.0424% / 4h	1h 32m	$47K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Arcus. 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 ArcusbpFee edgeXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $82.32
Price spread: +0.010% → +0.039%: −$2.86
Slippage, 4 orders: −$30.02
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $35.95
Costs to cover: 0.435%
Break-even: 3.9 days

Slippage from Arcus: live order book, 51 min ago; edgeX: live order book, 2 min ago.

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 Arcus live order book, 51 min ago	5.60 bp	12.5 bp −$12	39.4 bp −$394	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	5.91 bp	10.8 bp −$11	17.2 bp −$172	doesn't fit	doesn't fit

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	−0.0113%	1h	168.90	−0.077%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.01	−0.013%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.88	−0.089%	$88.2M	$628.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.91	−0.071%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.95	−0.047%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.84	−0.112%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.07	+0.021%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.12	+0.053%	$74K	$925K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.99	−0.024%	$2.9M	$61K	10x	as long as short
BloFin MSTR-USDT	+0.0001%	8h	169.01	−0.012%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0030%	8h	168.89	−0.083%	$28.9M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.85	−0.106%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.80	−0.137%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.92	−0.065%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.96	−0.041%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.84	−0.112%	$402K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.89	−0.083%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.79	−0.142%	$740K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0055%	8h	168.91	−0.071%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.059%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0057%	1h	168.86	−0.101%	$56.8M	$37.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0071%	8h	168.92	−0.066%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.92	−0.065%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.89	−0.083%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.17	+0.083%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.89	−0.083%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.89	−0.083%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.22	+0.112%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.154%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0342%	1h	168.92	−0.065%	$287K	$439K	10x	as long as short
Arcus MSTR-USDlong	+0.0457%	1h	169.03	long leg	$27K	$129K	10x
edgeX MSTRUSDCshort	+0.0849%	4h	169.05	+0.010%	$47K	$5.4M	10x