Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h −0.015%

Price spread now: Coinbase International against Gate−0.230%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$450.452% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.204%+$20 · spread now −0.230%, 7d avg −0.076%

Together, before fees+0.155%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.154% cheaper against Gate than usual: you would sell low and buy high (spread −0.230% now, against its 7-day average of −0.076%). If the spread goes back, that is −$15 on $10k: about 2.5 days of funding at the current rate (+$6 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.049% in total (about -2.6% 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	Gate MSTR_USDT	165.11	−0.0042	get 0.0042% / 8h	4h 50m	$4.6M	$18.4M	50x
Short	Coinbase International MSTR-PERP-INTX	164.73	0.0168	get 0.0021% / 1h	50m 54s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.230%Rate

Funding earned: $44.1
Price spread: −0.230% → −0.076%: −$15.44
Slippage, 4 orders: −$20.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.55
Costs to cover: 0.452%
Break-even: 9.6 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	2.12 bp	10.3 bp −$10	32.1 bp −$321	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	3.33 bp	9.6 bp −$10	13.6 bp −$136	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
Bitget MSTRUSDT	−0.0795%	8h	165.23	+0.073%	$27.8M	$114.8M	25x	as long as short
Gate MSTR_USDTlong	−0.0042%	8h	165.11	long leg	$4.6M	$18.4M	50x
Aster MSTRUSDT	0.0000%	8h	164.94	−0.103%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.98	−0.079%	$2.8M	$71K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	165.10	−0.006%	$20.7M	$99.9M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.83	−0.170%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.88	−0.142%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.562%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.89	−0.134%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.20	+0.055%	$27K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.99	−0.073%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.85	−0.157%	$382K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.96	−0.091%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.99	−0.073%	$868K	$4.1M	10x	as long as short
Variational Omni MSTR	+0.0051%	8h	164.95	−0.099%	$1.2M	$2.1M	—	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.85	−0.157%	$1.4M	$7.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.81	−0.180%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.88	−0.139%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.02	−0.055%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.90	−0.127%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.92	−0.116%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0116%	8h	165.12	+0.008%	$88.2M	$617.2M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0136%	8h	164.77	−0.204%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0155%	8h	165.23	+0.071%	$79K	$758K	10x	as long as short
edgeX MSTRUSDC	+0.0167%	4h	165.21	+0.058%	$49K	$5.4M	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	164.73	−0.230%	$1.4M	$1.1M	10x
Phoenix MSTR	+0.0213%	1h	165.22	+0.066%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0222%	1h	164.99	−0.073%	$55.0M	$36.8M	10x	as long as short
BloFin MSTR-USDT	+0.0236%	8h	165.02	−0.055%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0306%	1h	164.78	−0.198%	$122K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0354%	8h	165.14	+0.018%	$17.2M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0843%	1h	164.92	−0.115%	$280K	$438K	10x	as long as short