Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h +0.156%

Price spread now: edgeX against Coinbase International+0.828%7-day average +0.076% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$35as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.151%−$15 on $10k

Price spread, last 4 days (all we have)−0.804%−$80 · spread now +0.828%, 7d avg +0.076%

Together, before fees−0.955%+ Points / potential airdropedgeX: Active · farm board−$95 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.752% dearer against Coinbase International than usual: you sell high and buy low (spread +0.828% now, against its 7-day average of +0.076%): +$75 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	161.52	0.0168	pay 0.0021% / 1h	14m 34s	$1.4M	$1.1M	10x
Short	edgeX MSTRUSDC	162.86	0.0056	get 0.0028% / 4h	2h 14m	$45K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now +0.828%Rate

Funding earned: −$23.52
Price spread: +0.828% → +0.076%: $75.18
Slippage, 4 orders: −$20.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $11.94
Costs to cover: 0.397%
Break-even: from the start

Slippage from Coinbase International: live order book, 4 min ago; edgeX: live order book, 4 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 Coinbase International live order book, 4 min ago	3.38 bp	10.4 bp −$10	15.8 bp −$158	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	5.53 bp	10.5 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
Bitget MSTRUSDT	−0.1273%	8h	163.36	+1.139%	$27.5M	$118.5M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.18	+1.028%	$4.7M	$19.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.20	+1.040%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0002%	8h	163.01	+0.920%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0020%	1h	162.90	+0.854%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.05	+0.947%	$500K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.842%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.93	+0.873%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.12	+0.991%	$376K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.93	+0.873%	$870K	$3.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	163.13	+0.997%	$1.3M	$7.3M	10x	as long as short
edgeX MSTRUSDCshort	+0.0056%	4h	162.86	+0.828%	$45K	$5.4M	10x
RISEx MSTR/USDC	+0.0088%	1h	163.15	+1.011%	$262K	$444K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.13	+0.998%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.00	+0.916%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.81	+0.799%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.10	+0.978%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.10	+0.978%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0104%	8h	163.20	+1.040%	$20.7M	$100.6M	50x	as long as short
SoDEX MSTR-USD	+0.0108%	1h	163.06	+0.953%	$43K	$3K	10x	as long as short
Variational Omni MSTR	+0.0132%	8h	162.96	+0.890%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0143%	8h	163.14	+1.004%	$65	—	5x	as long as short
Lighter MSTR	+0.0152%	1h	163.09	+0.972%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	161.52	long leg	$1.4M	$1.1M	10x
Binance MSTRUSDT	+0.0206%	8h	163.18	+1.026%	$83.7M	$628.0M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0222%	8h	162.79	+0.788%	$79K	$857K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0286%	1h	163.13	+0.997%	$54.2M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0325%	8h	163.11	+0.984%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0340%	1h	163.07	+0.962%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0362%	1h	162.72	+0.744%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0377%	8h	163.18	+1.028%	$16.7M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0548%	1h	163.12	+0.991%	$277K	$438K	10x	as long as short