Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0387%/8h= +42.4% APRpaid last 24h −0.004%

Price spread now: edgeX against Binance−0.163%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 2 days (all we have)+0.182%+$18 · spread now −0.163%, 7d avg −0.007%

Together, before fees−0.010%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.157% cheaper against Binance than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of −0.007%). If the spread goes back, that is −$16 on $10k: about 32 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.192%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.192% in total (about -10.0% 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	Binance MSTRUSDT	169.63	0	get 0.0000% / 8h	2h 23m	$88.8M	$629.6M	50x
Short	edgeX MSTRUSDC	169.35	0.0387	get 0.0194% / 4h	2h 23m	$49K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now −0.163%Rate

Funding earned: $81.34
Price spread: −0.163% → −0.007%: −$15.65
Slippage, 4 orders: −$17.08
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $29.61
Costs to cover: 0.361%
Break-even: 4.5 days

Slippage from Binance: live order book, 6 min ago; edgeX: live order book, 6 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 Binance live order book, 6 min ago	0.29 bp	7.1 bp −$7	11.5 bp −$115	28.8 bp −$2,884	125.7 bp −$62.9K
Sell edgeX live order book, 6 min ago	5.61 bp	10.6 bp −$11	17.4 bp −$174	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	−0.0070%	1h	169.50	−0.076%	$140K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	169.62	−0.006%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.57	−0.033%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDTlong	0.0000%	8h	169.63	long leg	$88.8M	$629.6M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	169.65	+0.012%	$22.1M	$107.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.65	+0.014%	$297K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.60	−0.018%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.58	−0.030%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	−0.112%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.58	−0.029%	$2.9M	$57K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.57	−0.035%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.46	−0.098%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.65	+0.012%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.77	+0.083%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.307%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.59	−0.024%	$56.7M	$38.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.66	+0.018%	$413K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.60	−0.018%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.59	−0.024%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0073%	8h	169.62	−0.006%	$28.9M	$119.8M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0076%	8h	169.67	+0.021%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0095%	8h	169.69	+0.035%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.65	+0.014%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.47	−0.094%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.37	−0.153%	$4K	$934K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.60	−0.018%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.029%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.44	−0.113%	$57K	$396K	10x	as long as short
edgeX MSTRUSDCshort	+0.0387%	4h	169.35	−0.163%	$49K	$5.4M	10x
Arcus MSTR-USD	+0.0432%	1h	169.69	+0.035%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.312%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0753%	1h	169.70	+0.041%	$288K	$438K	10x	as long as short