Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0526%/8h= +57.6% APRpaid last 24h −0.004%

Price spread now: Nado against Gate−0.112%7-day average −0.007% · 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−$78as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.283%−$28 on $10k

Price spread, last 4 days (all we have)+1.290%+$129 · spread now −0.112%, 7d avg −0.007%

Together, before fees+1.007%+ Points / potential airdropNado: Active · farm board+$101 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.105% cheaper against Gate than usual: you would sell low and buy high (spread −0.112% now, against its 7-day average of −0.007%). If the spread goes back, that is −$10 on $10k: about 16 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 3 days funding on this pair cost −0.283%, 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	164.94	−0.0152	get 0.0152% / 8h	6h 24m	$4.6M	$19.0M	50x
Short	Nado MSTR-PERP	164.76	0.0374	get 0.0047% / 1h	24m 33s	$111K	$143K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.112%Rate

Funding earned: $110.5
Price spread: −0.112% → −0.007%: −$10.47
Slippage, 4 orders: −$45.14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $32.89
Costs to cover: 0.671%
Break-even: 4.9 days

Slippage from Gate: live order book, 4 min ago; Nado: live order book, 43 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	2.43 bp	11.5 bp −$12	29.2 bp −$292	doesn't fit	doesn't fit
Sell Nado live order book, 43 min ago	4.50 bp	28.7 bp −$29	87.4 bp −$874	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	−0.1025%	8h	165.15	+0.127%	$27.6M	$115.5M	25x	as long as short
Gate MSTR_USDTlong	−0.0152%	8h	164.94	long leg	$4.6M	$19.0M	50x
Aster MSTRUSDT	0.0000%	8h	165.08	+0.086%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.92	−0.012%	$20.9M	$100.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.93	−0.006%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	165.11	+0.102%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.18	+0.146%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.74	−0.121%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.95	+0.006%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.01	+0.042%	—	$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
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.71	−0.139%	$918K	$4.6M	10x	as long as short
Binance MSTRUSDT	+0.0056%	8h	164.93	−0.006%	$87.9M	$624.3M	50x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.92	−0.012%	$1.4M	$8.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.94	+0.001%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.93	−0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.62	−0.194%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.05	+0.067%	$3K	$8K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0100%	1h	165.03	+0.055%	$384K	$2.7M	10x	as long as short
Lighter MSTR	+0.0104%	1h	164.94	0.000%	$3.5M	$1.9M	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.08	+0.084%	$137	—	10x	as long as short
SoDEX MSTR-USD	+0.0117%	1h	165.05	+0.067%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0120%	8h	165.00	+0.038%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.89	−0.030%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0174%	8h	164.83	−0.067%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0256%	1h	164.89	−0.030%	$55.3M	$36.3M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.668%	$8K	$26K	30x	as long as short
Nado MSTR-PERPshort	+0.0374%	1h	164.76	−0.112%	$111K	$143K	3x
Phoenix MSTR	+0.0381%	1h	164.86	−0.050%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0393%	8h	164.96	+0.012%	$17.2M	$41.2M	50x	as long as short
edgeX MSTRUSDC	+0.0686%	4h	165.05	+0.069%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0902%	1h	165.17	+0.139%	$281K	$438K	10x	as long as short