Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.074%

Price spread now: Gate against Arcus−0.110%7-day average −0.012% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.125%+$13 on $10k

Price spread, last 4 days (all we have)+0.267%+$27 · spread now −0.110%, 7d avg −0.012%

Together, before fees+0.392%+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.097% cheaper against Arcus than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.012%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.125%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	164.33	0.0040	pay 0.0005% / 1h	41m 37s	$26K	$112K	10x
Short	Gate MSTR_USDT	164.15	0	get 0.0000% / 8h	5h 41m	$4.6M	$18.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.110%Rate

Funding earned: −$8.46
Price spread: −0.110% → −0.012%: −$9.73
Slippage, 4 orders: −$32.14
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$69.83
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from Arcus: live order book, 21 min ago; Gate: 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, 21 min ago	6.68 bp	11.3 bp −$11	41.3 bp −$413	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.13 bp	14.5 bp −$15	31.5 bp −$315	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
Bitget MSTRUSDT	−0.1274%	8h	164.33	0.000%	$27.6M	$114.5M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.12	−0.125%	$1.7M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.17	−0.097%	$20.8M	$99.4M	50x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	164.15	−0.110%	$4.6M	$18.5M	50x
Phemex MSTRUSDT	0.0000%	4h	164.46	+0.079%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0013%	8h	164.02	−0.191%	$1.2M	$2.0M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.05	−0.170%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.99	−0.210%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.049%	$8K	$26K	30x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	164.33	long leg	$26K	$112K	10x

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	164.05	−0.170%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.41	+0.049%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.47	+0.085%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.99	−0.207%	$880K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.15	−0.110%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0081%	1h	164.03	−0.183%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0088%	8h	164.10	−0.141%	$88.0M	$619.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.11	−0.134%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.05	−0.170%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.32	−0.006%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.47	+0.085%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.47	+0.084%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.09	−0.146%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0157%	8h	164.40	+0.043%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.146%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0207%	8h	164.42	+0.055%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0216%	1h	164.08	−0.151%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.18	−0.094%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	163.85	−0.289%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.23	−0.061%	$17.1M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0772%	4h	164.34	+0.009%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0784%	1h	164.51	+0.110%	$280K	$438K	10x	as long as short