Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0737%/8h= +80.7% APRpaid last 24h −0.044%

Price spread now: edgeX against BloFin+0.065%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.426%−$43 on $10k

Price spread, last 3 days (all we have)+0.119%+$12 · spread now +0.065%, 7d avg −0.023%

Together, before fees−0.307%+ Points / potential airdropedgeX: Active · farm board−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and edgeX is 0.087% dearer against BloFin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.023%. Mind the row above: over the last 7 days funding on this pair cost −0.426%, 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 -0.426% in total (about -22.2% 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	BloFin MSTR-USDT	169.51	0.0006	pay 0.0006% / 8h	2h 11m	$1.1M	$1.8M	20x
Short	edgeX MSTRUSDC	169.62	0.0743	get 0.0371% / 4h	2h 11m	$48K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against BloFin. 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 BloFinbpFee edgeXbpOrdersPrice spread, now +0.065%Rate

Funding earned: $154.82
Price spread: +0.065% → −0.023%: $8.73
Slippage, 4 orders: −$18.89
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $123.66
Costs to cover: 0.399%
Break-even: 1.4 days

Slippage from BloFin: live order book, 6 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 BloFin live order book, 6 min ago	3.24 bp	9.5 bp −$10	11.0 bp −$110	20.2 bp −$2,021	doesn't fit
Sell edgeX live order book, 2 min ago	5.61 bp	10.5 bp −$11	17.3 bp −$173	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	−0.0055%	1h	169.46	−0.030%	$140K	$98K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.48	−0.019%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.47	−0.021%	$88.6M	$630.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.51	0.000%	$22.1M	$107.5M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.47	−0.027%	$277K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.43	−0.047%	$4.8M	$19.7M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.78	+0.158%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.74	+0.133%	$83K	$948K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	0.0000%	1h	169.48	−0.018%	$288K	$439K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.49	−0.012%	$2.9M	$58K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MSTR-USDTlong	+0.0006%	8h	169.51	long leg	$1.1M	$1.8M	20x
Lighter MSTR	+0.0032%	1h	169.49	−0.012%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.46	−0.031%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.49	−0.012%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.71	+0.118%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.236%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.50	−0.006%	$56.8M	$38.3M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.44	−0.041%	$419K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.47	−0.024%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.39	−0.071%	$779K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0076%	8h	169.50	−0.006%	$28.9M	$120.0M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0089%	8h	169.48	−0.018%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0097%	8h	169.50	−0.006%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.44	−0.039%	$104K	$121K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.43	−0.047%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.53	+0.012%	$4K	$871K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.47	−0.024%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.45	−0.035%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.66	+0.090%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.61	+0.059%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.61	+0.059%	$13K	$22K	30x	as long as short
edgeX MSTRUSDCshort	+0.0743%	4h	169.62	+0.065%	$48K	$5.5M	10x