Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.074%

Price spread now: Arcus against Gate−0.164%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$560.564% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.126%−$13 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.164%, 7d avg +0.012%

Together, before fees−0.025%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.176% cheaper against Gate than usual: you would sell low and buy high (spread −0.164% now, against its 7-day average of +0.012%). If the spread goes back, that is −$18 on $10k: about 3.6 days of funding at the current rate (+$5 a day). Mind the row above: over the last 3 days funding on this pair cost −0.126%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	164.82	−0.0124	get 0.0124% / 8h	6h 29m	$4.6M	$19.0M	50x
Short	Arcus MSTR-USD	164.55	0.0040	get 0.0005% / 1h	29m 16s	$26K	$113K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now −0.164%Rate

Funding earned: $34.5
Price spread: −0.164% → +0.012%: −$17.58
Slippage, 4 orders: −$36.92
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$39.5
Costs to cover: 0.564%
Break-even: 15.0 days

Slippage from Gate: live order book, 4 min ago; Arcus: live order book, 39 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 Gate live order book, 4 min ago	1.52 bp	12.8 bp −$13	38.7 bp −$387	doesn't fit	doesn't fit
Sell Arcus live order book, 39 min ago	10.18 bp	13.6 bp −$14	35.2 bp −$352	doesn't fit	doesn't fit

MSTR on 31 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
Bitget MSTRUSDT	−0.1000%	8h	164.88	+0.036%	$27.5M	$115.8M	25x	as long as short
Gate MSTR_USDTlong	−0.0124%	8h	164.82	long leg	$4.6M	$19.0M	50x
Aster MSTRUSDT	0.0000%	8h	164.90	+0.049%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.66	−0.097%	$20.8M	$100.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.82	+0.003%	$270K	$437K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.40	−0.255%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.71	−0.067%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.45	−0.224%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USDshort	+0.0040%	1h	164.55	−0.164%	$26K	$113K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	164.70	−0.073%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MSTRUSDT	+0.0047%	8h	164.60	−0.133%	$87.6M	$625.4M	50x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.11	−0.431%	$918K	$4.8M	10x	as long as short
SoDEX MSTR-USD	+0.0052%	1h	164.54	−0.170%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0058%	8h	164.22	−0.362%	$75K	$810K	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.81	−0.006%	$1.4M	$8.4M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.72	−0.062%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.75	−0.042%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.26	−0.340%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.71	−0.067%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.58	−0.148%	$137	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0106%	1h	164.70	−0.073%	$383K	$2.7M	10x	as long as short
Lighter MSTR	+0.0128%	1h	164.53	−0.176%	$3.5M	$1.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.37	−0.273%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0177%	8h	164.78	−0.027%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0295%	1h	164.62	−0.121%	$55.3M	$36.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.742%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0381%	1h	164.43	−0.237%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0387%	1h	164.64	−0.110%	$111K	$143K	3x	as long as short
Bybit MSTRUSDT	+0.0423%	8h	164.61	−0.127%	$17.1M	$41.3M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0662%	1h	164.61	−0.127%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0990%	4h	164.44	−0.229%	$48K	$5.5M	10x	as long as short