Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h +0.015%

Price spread now: Gate against Coinbase International+0.439%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)−0.413%−$41 · spread now +0.439%, 7d avg +0.076%

Together, before fees−0.364%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.363% dearer against Coinbase International than usual: you sell high and buy low (spread +0.439% now, against its 7-day average of +0.076%): +$36 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	164.12	0.0168	pay 0.0021% / 1h	1m 00s	$1.4M	$1.1M	10x
Short	Gate MSTR_USDT	164.84	0	get 0.0000% / 8h	4h 01m	$4.6M	$18.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.439%Rate

Funding earned: −$35.28
Price spread: +0.439% → +0.076%: $36.29
Slippage, 4 orders: −$20.9
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$44.89
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	4.56 bp	9.6 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.52 bp	13.9 bp −$14	29.7 bp −$297	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	−0.0930%	8h	164.76	+0.390%	$27.9M	$115.1M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.54	+0.253%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	164.84	+0.439%	$4.6M	$18.9M	50x
Phemex MSTRUSDT	0.0000%	4h	164.66	+0.329%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0021%	8h	164.71	+0.359%	$20.7M	$99.6M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.54	+0.256%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.50	+0.232%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.181%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.61	+0.301%	$267K	$445K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.55	+0.262%	$26K	$109K	10x	as long as short

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	164.44	+0.195%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.52	+0.244%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.57	+0.274%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.42	+0.183%	$859K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.60	+0.292%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0097%	8h	164.61	+0.296%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.58	+0.278%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.55	+0.262%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.39	+0.165%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.60	+0.292%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.60	+0.294%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0140%	8h	164.54	+0.257%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0153%	8h	164.70	+0.353%	$87.0M	$615.6M	50x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	164.12	long leg	$1.4M	$1.1M	10x
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.57	+0.273%	$82K	$792K	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.55	+0.260%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0235%	1h	164.61	+0.299%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0243%	1h	164.43	+0.186%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0273%	8h	164.67	+0.335%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0350%	8h	164.71	+0.359%	$16.9M	$40.8M	50x	as long as short
edgeX MSTRUSDC	+0.0478%	4h	164.50	+0.232%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0966%	1h	164.62	+0.305%	$280K	$438K	10x	as long as short