Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.017%

Price spread now: Injective against Gate+3.155%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.230%−$23 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 3.155% dearer against Gate than usual: you sell high and buy low: +$316 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.230%, 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	164.16	0	get 0.0000% / 8h	5h 41m	$4.6M	$18.5M	50x
Short	Injective MSTR/USDC PERP	169.34	0.0033	get 0.0004% / 1h	41m 06s	$8K	$26K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +3.155%Rate

Funding earned: $7
Price spread: +3.155% → 0.000%: $315.55
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $307.53
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 3 min ago; Injective: no order-book sample. Net counts fees only.

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	2.13 bp	13.2 bp −$13	37.0 bp −$370	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1274%	8h	164.39	+0.140%	$27.6M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.07	−0.054%	$1.7M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.25	+0.055%	$20.8M	$99.4M	50x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	164.16	long leg	$4.6M	$18.5M	50x
Phemex MSTRUSDT	0.0000%	4h	164.17	+0.006%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0021%	8h	164.09	−0.041%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.02	−0.085%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.87	−0.177%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERPshort	+0.0033%	1h	169.34	+3.155%	$8K	$26K	30x
Arcus MSTR-USD	+0.0040%	1h	164.33	+0.104%	$26K	$112K	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	164.05	−0.067%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.05	−0.067%	$383K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.09	−0.043%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.99	−0.104%	$880K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.15	−0.006%	$1.4M	$7.7M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0082%	1h	164.08	−0.049%	$54.9M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0088%	8h	164.22	+0.036%	$88.1M	$619.3M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.11	−0.030%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.01	−0.091%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.32	+0.097%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.10	−0.037%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.04	−0.076%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.09	−0.043%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0157%	8h	164.40	+0.147%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.043%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0208%	8h	164.17	+0.006%	$1.0M	$1.9M	20x	as long as short
Nado MSTR-PERP	+0.0216%	1h	164.08	−0.047%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.18	+0.009%	$269K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.35	+0.113%	$55K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.31	+0.091%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0604%	1h	164.08	−0.049%	$279K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0772%	4h	164.34	+0.113%	$49K	$5.4M	10x	as long as short