Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h −0.034%

Price spread now: Aevo against Bybit−0.055%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Aevo

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

Funding pays, the price is against you. Aevo is 0.055% cheaper against Bybit than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 4.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSTRUSDT	169.47	0.0061	pay 0.0061% / 8h	1m 44s	$15.2M	$40.3M	50x
Short	Aevo MSTR-PERP	169.38	0.0104	get 0.0013% / 1h	1m 44s	$141	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now −0.055%Rate

Funding earned: $9.09
Price spread: −0.055% → 0.000%: −$5.52
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$23.43
Costs to cover: 0.270%
Break-even: 25.0 days

Slippage unknown: Bybit: live order book, 7 min ago; Aevo: no order-book sample. 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 Bybit live order book, 7 min ago	0.89 bp	10.3 bp −$10	15.0 bp −$150	121.2 bp −$12.1K	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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
Nado MSTR-PERP	−0.0043%	1h	169.36	−0.067%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.23	−0.139%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.46	−0.006%	$21.9M	$106.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.40	−0.041%	$4.7M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.00	−0.276%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.22	−0.148%	$2.9M	$66K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.46	−0.006%	$276K	$441K	10x	as long as short
Bitget MSTRUSDT	+0.0030%	8h	169.50	+0.018%	$28.8M	$119.8M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0030%	8h	169.13	−0.201%	$77K	$871K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.44	−0.018%	$3.6M	$2.4M	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	169.37	−0.057%	$581K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.56	+0.053%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.35	−0.071%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.36	−0.065%	$399K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.41	−0.035%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.23	−0.142%	$764K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0055%	8h	169.48	+0.004%	$89.4M	$628.5M	50x	as long as short
Bybit MSTRUSDTlong	+0.0061%	8h	169.47	long leg	$15.2M	$40.3M	50x
BloFin MSTR-USDT	+0.0064%	8h	169.50	+0.018%	$1.1M	$1.9M	20x	as long as short
Paradex MSTR-USD-PERP	+0.0095%	8h	169.45	−0.012%	$68	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.425%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.42	−0.030%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.30	−0.100%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.242%	$4K	$244K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.38	−0.053%	$3K	$10K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	168.88	−0.348%	$13K	$21K	30x	as long as short
Aevo MSTR-PERPshort	+0.0104%	1h	169.38	−0.055%	$141	—	10x
tradeXYZ xyz:MSTR	+0.0124%	1h	169.42	−0.030%	$57.2M	$36.9M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.09	−0.227%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0382%	4h	169.04	−0.251%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0400%	1h	169.46	−0.006%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.50	+0.018%	$27K	$129K	10x	as long as short