Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.017%

Price spread now: Orderly against edgeX−0.182%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Orderly

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.182% cheaper against edgeX than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	169.05	0.0278	pay 0.0139% / 4h	1h 30m	$47K	$5.4M	10x
Short	Orderly PERP_MSTR_USDC_mythos	168.74	0.0100	get 0.0100% / 8h	1h 30m	$3K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.182%Rate

Funding earned: −$37.31
Price spread: −0.182% → 0.000%: −$18.22
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$70.53
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 3 min ago; Orderly: 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 edgeX live order book, 3 min ago	5.91 bp	10.7 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0116%	1h	168.87	−0.103%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.74	−0.182%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.73	−0.186%	$88.2M	$629.0M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.70	−0.206%	$22.0M	$106.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.93	−0.069%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.70	−0.206%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.07	+0.010%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.12	+0.043%	$74K	$925K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.80	−0.147%	$2.9M	$61K	10x	as long as short
BloFin MSTR-USDT	+0.0016%	8h	168.86	−0.111%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0029%	8h	168.69	−0.212%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.62	−0.253%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.69	−0.211%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.89	−0.093%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.94	−0.064%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.86	−0.111%	$399K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.79	−0.153%	$44K	$3K	10x	as long as short
Bybit MSTRUSDT	+0.0050%	8h	168.69	−0.212%	$15.1M	$40.9M	50x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.79	−0.153%	$741K	$5.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0056%	1h	168.67	−0.224%	$56.8M	$38.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.070%	$1.5M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	168.65	−0.235%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.67	−0.226%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.69	−0.212%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	−0.011%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	168.74	−0.182%	$3K	$12K	10x
Aevo MSTR-PERP	+0.0104%	1h	168.76	−0.168%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	−0.021%	$57K	$394K	10x	as long as short
edgeX MSTRUSDClong	+0.0278%	4h	169.05	long leg	$47K	$5.4M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0283%	1h	168.86	−0.111%	$287K	$439K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.143%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.99	−0.034%	$27K	$129K	10x	as long as short