Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0908%/8h= −99.4% APRpaid last 24h −0.089%

Price spread now: SoDEX against edgeX−0.139%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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 −$27 a day on $10k at the current rate, and SoDEX is 0.139% cheaper against edgeX than usual: you would sell low and buy high (−$14 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	168.47	0.0958	pay 0.0479% / 4h	3h 32m	$47K	$5.5M	10x
Short	SoDEX MSTR-USD	168.24	0.0050	get 0.0006% / 1h	32m 36s	$44K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$190.62
Price spread: −0.139% → 0.000%: −$13.92
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$221.54
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 1 min ago; SoDEX: 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, 1 min ago	5.64 bp	10.7 bp −$11	17.0 bp −$170	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0050%	1h	168.13	−0.204%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.31	−0.096%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.26	−0.127%	$21.7M	$100.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.31	−0.098%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.39	−0.050%	$28.4M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.67	+0.115%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.43	−0.026%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.38	−0.056%	$2.8M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.26	−0.127%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.15	−0.193%	$582K	$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
QFEX MSTR-USD	+0.0035%	1h	168.28	−0.115%	$1.4M	$9.3M	10x	as long as short
Binance MSTRUSDT	+0.0039%	8h	168.30	−0.101%	$88.8M	$615.7M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.52	+0.027%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.25	−0.133%	—	$1.7M	25x	as long as short
BloFin MSTR-USDT	+0.0047%	8h	168.31	−0.098%	$1.1M	$1.9M	20x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.23	−0.145%	$395K	$2.7M	10x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	168.24	−0.139%	$44K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.17	−0.181%	$761K	$5.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.009%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.26	−0.126%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.31	−0.100%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.30	−0.104%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.66	+0.110%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.29	−0.110%	$3K	$8K	10x	as long as short
Bybit MSTRUSDT	+0.0103%	8h	168.31	−0.098%	$15.1M	$39.3M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.25	−0.133%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0216%	1h	168.28	−0.115%	$56.8M	$35.3M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.514%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.74	+0.156%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.30	−0.102%	$274K	$434K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0821%	1h	168.30	−0.104%	$286K	$438K	10x	as long as short
edgeX MSTRUSDClong	+0.0958%	4h	168.47	long leg	$47K	$5.5M	10x