Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0767%/8h= −84.0% APRpaid last 24h −0.130%

Price spread now: Binance against edgeX+0.052%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$340.335% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.052%, 7d avg +0.039%

Together, before fees+0.044%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: −$23 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.3% 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	edgeX MSTRUSDC	164.20	0.0857	pay 0.0428% / 4h	1h 39m	$49K	$5.4M	10x
Short	Binance MSTRUSDT	164.28	0.0090	get 0.0090% / 8h	5h 39m	$88.1M	$619.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now +0.052%Rate

Funding earned: −$161.15
Price spread: +0.052% → +0.039%: $1.27
Slippage, 4 orders: −$14.54
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$193.41
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Binance: 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 edgeX live order book, 5 min ago	4.56 bp	11.8 bp −$12	18.6 bp −$186	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.30 bp	6.3 bp −$6	10.0 bp −$100	29.9 bp −$2,990	69.0 bp −$34.5K

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	−0.1278%	8h	164.44	+0.149%	$27.6M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.30	+0.065%	$1.8M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.28	+0.052%	$20.8M	$99.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.27	+0.045%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.27	+0.045%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0021%	8h	164.09	−0.062%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.19	−0.003%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.10	−0.055%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.133%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.31	+0.070%	$26K	$112K	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	164.14	−0.034%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.23	+0.021%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.28	+0.052%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.11	−0.052%	$880K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.25	+0.033%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0080%	1h	164.18	−0.009%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDTshort	+0.0090%	8h	164.28	+0.052%	$88.1M	$619.1M	50x
Pacifica MSTR	+0.0100%	1h	164.23	+0.021%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.19	−0.003%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.32	+0.076%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.30	+0.064%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.30	+0.062%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0140%	8h	164.26	+0.038%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0157%	8h	164.40	+0.125%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.064%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0208%	8h	164.17	−0.015%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0213%	1h	164.24	+0.029%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.28	+0.049%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.35	+0.092%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.35	+0.094%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0725%	1h	164.33	+0.082%	$279K	$438K	10x	as long as short
edgeX MSTRUSDClong	+0.0857%	4h	164.20	long leg	$49K	$5.4M	10x