Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0654%/8h= +71.6% APRpaid last 24h +0.035%

Price spread now: edgeX against Extended+0.213%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 7 days−0.185%−$19 · spread now +0.213%, 7d avg +0.074%

Together, before fees−0.438%+ Points / potential airdropExtended: Active · edgeX: Active · farm board−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and edgeX is 0.139% dearer against Extended than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.074%. Mind the row above: over the last 7 days funding on this pair cost −0.253%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.253% in total (about -13.2% 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	Extended MSTR_24_5-USD	169.16	0.0032	pay 0.0004% / 1h	48m 45s	$583K	$1.8M	10x
Short	edgeX MSTRUSDC	169.52	0.0686	get 0.0343% / 4h	48m 45s	$47K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Extended. 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 ExtendedbpFee edgeXbpOrdersPrice spread, now +0.213%Rate

Funding earned: $137.35
Price spread: +0.213% → +0.074%: $13.92
Slippage, 4 orders: −$20
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $117.27
Costs to cover: 0.340%
Break-even: 1.0 days

Slippage from Extended: live order book, 5 min ago; edgeX: live order book, 5 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 Extended live order book, 5 min ago	2.36 bp	6.5 bp −$7	33.0 bp −$330	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	5.60 bp	10.6 bp −$11	17.2 bp −$172	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
Aster MSTRUSDT	0.0000%	8h	169.34	+0.104%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.49	+0.193%	$22.1M	$106.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.45	+0.169%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.49	+0.195%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.53	+0.216%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.36	+0.116%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.41	+0.145%	$276K	$442K	10x	as long as short
Binance MSTRUSDT	+0.0019%	8h	169.43	+0.159%	$89.4M	$629.1M	50x	as long as short
BloFin MSTR-USDT	+0.0021%	8h	169.45	+0.169%	$1.1M	$1.8M	20x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	169.16	long leg	$583K	$1.8M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MSTR-PERP	+0.0040%	1h	169.33	+0.099%	$139K	$97K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.54	+0.222%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.41	+0.145%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.33	+0.098%	$398K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.35	+0.110%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.31	+0.086%	$782K	$5.2M	10x	as long as short
Bitget MSTRUSDT	+0.0053%	8h	169.51	+0.205%	$28.7M	$120.6M	25x	as long as short
Bybit MSTRUSDT	+0.0092%	8h	169.44	+0.163%	$15.2M	$40.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.50	+0.199%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.40	+0.141%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.35	+0.110%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.21	+0.027%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.36	+0.116%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.050%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.35	+0.113%	$141	—	10x	as long as short
Lighter MSTR	+0.0120%	1h	169.44	+0.163%	$3.6M	$2.4M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0123%	8h	169.37	+0.122%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0158%	1h	169.37	+0.122%	$57.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	+0.201%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0578%	1h	169.30	+0.080%	$288K	$438K	10x	as long as short
edgeX MSTRUSDCshort	+0.0686%	4h	169.52	+0.213%	$47K	$5.5M	10x
Arcus MSTR-USD	+0.0738%	1h	169.47	+0.181%	$27K	$129K	10x	as long as short