Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0789%/8h= −86.4% APRpaid last 24h −0.044%

Price spread now: GRVT against edgeX+0.002%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on edgeX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now +0.002%, 7d avg +0.022%

Together, before fees+0.098%+ Points / potential airdropedgeX: Active · GRVT: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and GRVT is 0.020% cheaper against edgeX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.022%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.102%, 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 0.102% in total (about 5.3% 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	169.52	0.0789	pay 0.0395% / 4h	51m 26s	$47K	$5.5M	10x
Short	GRVT MSTR_USDT_Perp	169.52	0	get 0.0000% / 8h	51m 26s	$83K	$875K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$165.79
Price spread: +0.002% → +0.022%: −$2.04
Slippage, 4 orders: −$18.41
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$204.24
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; GRVT: live order book, 27 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, 3 min ago	5.60 bp	10.6 bp −$11	17.0 bp −$170	doesn't fit	doesn't fit
Sell GRVT live order book, 27 min ago	1.48 bp	6.7 bp −$7	11.5 bp −$115	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
BloFin MSTR-USDT	−0.0021%	8h	169.65	+0.079%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.22	−0.174%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.53	+0.008%	$22.1M	$106.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.47	−0.027%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	−0.079%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perpshort	0.0000%	8h	169.52	+0.002%	$83K	$875K	10x
Phemex MSTRUSDT	0.0000%	4h	169.51	−0.004%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.51	−0.004%	$276K	$442K	10x	as long as short
Binance MSTRUSDT	+0.0009%	8h	169.52	+0.002%	$89.5M	$629.1M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.35	−0.095%	$583K	$1.8M	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	169.63	+0.067%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.51	−0.004%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.43	−0.051%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.36	−0.092%	$782K	$5.2M	10x	as long as short
Bitget MSTRUSDT	+0.0053%	8h	169.48	−0.021%	$28.7M	$120.6M	25x	as long as short
Nado MSTR-PERP	+0.0080%	1h	169.40	−0.067%	$140K	$97K	3x	as long as short
Bybit MSTRUSDT	+0.0088%	8h	169.54	+0.014%	$15.2M	$40.6M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.251%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.44	−0.046%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.33	−0.110%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.26	−0.151%	$4K	$364K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	−0.015%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.257%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.50	−0.011%	$141	—	10x	as long as short
SoDEX MSTR-USD	+0.0113%	1h	169.49	−0.015%	$45K	$3K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0122%	8h	169.56	+0.027%	$68	—	5x	as long as short
Lighter MSTR	+0.0152%	1h	169.54	+0.014%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0167%	1h	169.43	−0.051%	$57.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	−0.011%	$57K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.58	+0.038%	$27K	$129K	10x	as long as short
edgeX MSTRUSDClong	+0.0789%	4h	169.52	long leg	$47K	$5.5M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0931%	1h	169.56	+0.026%	$288K	$439K	10x	as long as short