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: Extended against Gate−0.112%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

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

Long on Gate Short on Extended

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+0.042%+$4 · spread now −0.112%, 7d avg −0.100%

Together, before fees−0.098%+ 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 cost −0.140%, 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	169.49	0	get 0.0000% / 8h	55m 16s	$4.8M	$19.3M	50x
Short	Extended MSTR_24_5-USD	169.30	0.0032	get 0.0004% / 1h	55m 16s	$583K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.112%Rate

Funding earned: $6.72
Price spread: −0.112% → −0.100%: −$1.19
Slippage, 4 orders: −$21.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$36.12
Costs to cover: 0.417%
Break-even: 44.6 days

Slippage from Gate: live order book, 3 min ago; Extended: 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	2.07 bp	18.4 bp −$18	41.6 bp −$416	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	1.77 bp	5.0 bp −$5	17.8 bp −$178	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	−0.0009%	8h	169.56	+0.041%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.18	−0.181%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.55	+0.034%	$89.5M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.55	+0.035%	$22.1M	$106.9M	50x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	169.49	long leg	$4.8M	$19.3M	50x
Variational Omni MSTR	0.0000%	8h	169.38	−0.064%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.32	−0.102%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.52	+0.018%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.52	+0.015%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	169.30	−0.112%	$583K	$1.8M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0044%	8h	169.56	+0.041%	$28.8M	$120.6M	25x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.58	+0.053%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.49	0.000%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.45	−0.024%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.33	−0.094%	$781K	$5.2M	10x	as long as short
Nado MSTR-PERP	+0.0062%	1h	169.34	−0.086%	$140K	$97K	3x	as long as short
Bybit MSTRUSDT	+0.0079%	8h	169.57	+0.047%	$15.2M	$40.6M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.236%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.47	−0.012%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.25	−0.142%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.254%	$4K	$394K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.41	−0.047%	$3K	$11K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0102%	8h	169.43	−0.034%	$68	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.242%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.44	−0.029%	$141	—	10x	as long as short
Lighter MSTR	+0.0144%	1h	169.50	+0.006%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0155%	1h	169.46	−0.018%	$57.2M	$37.6M	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.20	−0.171%	$57K	$392K	10x	as long as short
SoDEX MSTR-USD	+0.0270%	1h	169.53	+0.024%	$45K	$3K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.53	+0.024%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0980%	4h	169.29	−0.118%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1049%	1h	169.59	+0.059%	$288K	$439K	10x	as long as short