Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.073%

Price spread now: Pacifica against Gate+0.098%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 4 days (all we have)−0.377%−$38 · spread now +0.098%, 7d avg −0.015%

Together, before fees−0.527%+ Points / potential airdropPacifica: Active · farm board−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Pacifica is 0.113% dearer against Gate than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.149%, 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	169.16	0	get 0.0000% / 8h	2h 53m	$4.8M	$19.4M	50x
Short	Pacifica MSTR	169.33	0.0100	get 0.0013% / 1h	53m 54s	$103K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.098%Rate

Funding earned: $21
Price spread: +0.098% → −0.015%: $11.32
Slippage, 4 orders: −$29.86
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$20.53
Costs to cover: 0.529%
Break-even: 13.8 days

Slippage from Gate: live order book, 5 min ago; Pacifica: live order book, 33 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, 5 min ago	2.95 bp	14.9 bp −$15	44.4 bp −$444	doesn't fit	doesn't fit
Sell Pacifica live order book, 33 min ago	1.44 bp	13.6 bp −$14	doesn't fit	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
Nado MSTR-PERP	−0.0116%	1h	169.27	+0.063%	$139K	$107K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.20	+0.026%	$1.3M	$6.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.39	+0.137%	$299K	$466K	10x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	169.16	long leg	$4.8M	$19.4M	50x
Variational Omni MSTR	0.0000%	8h	169.53	+0.221%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.64	+0.284%	$83K	$969K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.12	−0.024%	$2.9M	$55K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0030%	8h	169.21	+0.030%	$22.1M	$108.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	169.09	−0.041%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.10	−0.035%	$588K	$1.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0039%	1h	169.24	+0.047%	$1.5M	$10.2M	10x	as long as short
Binance MSTRUSDT	+0.0047%	8h	169.20	+0.024%	$88.9M	$630.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.32	+0.095%	$1.5M	$1.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0049%	1h	169.45	+0.171%	—	$2.1M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.08	−0.047%	$56.9M	$38.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.14	−0.012%	$412K	$2.5M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.12	−0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.41	+0.148%	$780K	$5.0M	10x	as long as short
BloFin MSTR-USDT	+0.0056%	8h	169.50	+0.201%	$1.1M	$1.7M	20x	as long as short
Paradex MSTR-USD-PERP	+0.0076%	8h	169.25	+0.052%	$68	—	5x	as long as short
Phoenix MSTR	+0.0090%	1h	169.87	+0.417%	$57K	$396K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	169.33	+0.098%	$103K	$154K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.20	+0.024%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.63	+0.278%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.25	+0.053%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.27	+0.065%	$140	—	10x	as long as short
Bitget MSTRUSDT	+0.0118%	8h	169.15	−0.006%	$28.9M	$119.6M	25x	as long as short
Bybit MSTRUSDT	+0.0145%	8h	169.20	+0.024%	$15.2M	$41.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0164%	1h	169.20	+0.024%	$288K	$439K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.30	+0.083%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.437%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0916%	4h	169.56	+0.235%	$50K	$5.4M	10x	as long as short