Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0053%/8h= −5.9% APRpaid last 24h −0.050%

Price spread now: Vest against edgeX+0.119%63s7-day average −0.935% · you sell dearer than you buy

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

Long on edgeX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now +0.119%, 7d avg −0.935%

Together, before fees+0.011%+ Points / potential airdropedgeX: Active · Vest: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 1.054% dearer against edgeX than usual: you sell high and buy low (spread +0.119% now, against its 7-day average of −0.935%): +$105 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	169.17	0.0099	pay 0.0050% / 4h	1h 20m	$47K	$5.5M	10x
Short	Vest MSTR-USD-PERP	169.37	0.0046	get 0.0006% / 1h	20m 27s	—	$2.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$11.23
Price spread: +0.119% → −0.935%: $105.43
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: $83.2
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: edgeX: live order book, 4 min ago; Vest: 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, 4 min ago	5.61 bp	10.7 bp −$11	17.3 bp −$173	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0079%	1h	169.23	+0.038%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.18	+0.007%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.33	+0.095%	$89.4M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.31	+0.083%	$22.1M	$107.0M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.35	+0.110%	$276K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.29	+0.072%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.72	−0.263%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.29	+0.072%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.38	+0.125%	$2.9M	$62K	10x	as long as short
BloFin MSTR-USDT	+0.0020%	8h	169.47	+0.178%	$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
Lighter MSTR	+0.0032%	1h	169.30	+0.078%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.25	+0.048%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0035%	8h	169.35	+0.107%	$28.8M	$119.5M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.37	+0.119%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	169.37	+0.119%	—	$2.1M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	169.30	+0.078%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.39	+0.131%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.16	−0.005%	$782K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.301%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0063%	8h	169.33	+0.095%	$15.2M	$40.8M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0084%	8h	169.31	+0.085%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0091%	1h	169.29	+0.072%	$57.0M	$37.7M	10x	as long as short
edgeX MSTRUSDClong	+0.0099%	4h	169.17	long leg	$47K	$5.5M	10x
Pacifica MSTR	+0.0100%	1h	169.26	+0.052%	$104K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.17	+0.001%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.064%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.27	+0.060%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.42	+0.150%	$141	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	168.76	−0.240%	$56K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.072%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.41	+0.143%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0695%	1h	169.43	+0.154%	$288K	$439K	10x	as long as short