Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.040%

Price spread now: Gate against Extended+0.113%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 7 days−0.043%−$4 · spread now +0.113%, 7d avg +0.100%

Together, before fees+0.097%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.100%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.140%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSTR_24_5-USD	169.14	0.0032	pay 0.0004% / 1h	56m 30s	$585K	$1.8M	10x
Short	Gate MSTR_USDT	169.33	0	get 0.0000% / 8h	56m 30s	$4.8M	$19.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.113%Rate

Funding earned: −$6.72
Price spread: +0.113% → +0.100%: $1.27
Slippage, 4 orders: −$21.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$47.11
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	1.77 bp	5.7 bp −$6	17.5 bp −$175	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.07 bp	12.5 bp −$13	42.4 bp −$424	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	−0.0023%	8h	169.38	+0.142%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.15	+0.007%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.47	+0.199%	$89.5M	$628.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.46	+0.190%	$22.1M	$106.8M	50x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	169.33	+0.113%	$4.8M	$19.3M	50x
Variational Omni MSTR	0.0000%	8h	169.02	−0.069%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.12	−0.012%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.30	+0.095%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.46	+0.188%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	169.14	long leg	$585K	$1.8M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0042%	8h	169.42	+0.166%	$28.8M	$120.5M	25x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.46	+0.190%	—	$2.1M	25x	as long as short
Nado MSTR-PERP	+0.0047%	1h	169.33	+0.112%	$139K	$97K	3x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.41	+0.160%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.20	+0.036%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.26	+0.072%	$781K	$5.1M	10x	as long as short
Bybit MSTRUSDT	+0.0077%	8h	169.47	+0.196%	$15.2M	$40.6M	50x	as long as short
SoDEX MSTR-USD	+0.0093%	1h	169.31	+0.101%	$44K	$3K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.029%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.35	+0.127%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.14	+0.001%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	−0.064%	$4K	$395K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.24	+0.060%	$3K	$11K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0100%	8h	169.33	+0.112%	$68	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.035%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.24	+0.060%	$140	—	10x	as long as short
Lighter MSTR	+0.0112%	1h	169.32	+0.107%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0147%	1h	169.28	+0.083%	$57.1M	$37.5M	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.20	+0.036%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0434%	4h	169.14	−0.001%	$47K	$5.5M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.45	+0.184%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0991%	1h	169.37	+0.137%	$288K	$439K	10x	as long as short