Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0231%/8h= +25.3% APRpaid last 24h +0.073%

Price spread now: RISEx against Gate−0.037%7-day average +0.020% · 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−$46as in the Price arb table

costs, in and out, $10k−$410.405% of the position

Long on Gate Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.037%, 7d avg +0.020%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.057% cheaper against Gate than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.020%). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.081% in total) that is about 2.5 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.081% in total (about 8.2% 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	164.21	0	get 0.0000% / 8h	3h 29m	$4.6M	$19.1M	50x
Short	RISEx MSTR/USDC	164.15	0.0231	get 0.0029% / 1h	29m 18s	$266K	$445K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.037%Rate

Funding earned: $48.46
Price spread: −0.037% → +0.020%: −$5.65
Slippage, 4 orders: −$19.54
Fee Gate: 7.5 bp × 2 orders: −$15
Fee RISEx: 3 bp × 2 orders: −$6
Net: $2.26
Costs to cover: 0.405%
Break-even: 6.7 days

Slippage from Gate: live order book, 4 min ago; RISEx: live order book, 24 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	2.13 bp	11.7 bp −$12	32.3 bp −$323	doesn't fit	doesn't fit
Sell RISEx live order book, 24 min ago	2.73 bp	5.7 bp −$6	7.0 bp −$70	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	−0.0914%	8h	164.26	+0.030%	$27.9M	$115.5M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.16	−0.030%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	164.21	long leg	$4.6M	$19.1M	50x
Phemex MSTRUSDT	0.0000%	4h	164.27	+0.037%	$2.8M	$77K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.95	−0.158%	$589K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.124%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.27	+0.037%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.99	−0.134%	—	$1.7M	25x	as long as short
Lighter MSTR	+0.0048%	1h	164.09	−0.073%	$3.5M	$1.9M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.10	−0.067%	$380K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	164.23	+0.012%	$43K	$3K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0050%	8h	164.13	−0.049%	$20.7M	$99.0M	50x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.12	−0.055%	$868K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.14	−0.043%	$1.4M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.09	−0.071%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.05	−0.097%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.19	−0.012%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.14	−0.043%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.15	−0.036%	$136	—	10x	as long as short
Variational Omni MSTR	+0.0108%	8h	164.33	+0.071%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.07	−0.084%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.11	−0.061%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0171%	8h	164.15	−0.034%	$86.6M	$616.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0175%	8h	164.36	+0.094%	$82K	$814K	10x	as long as short
edgeX MSTRUSDC	+0.0223%	4h	164.20	−0.006%	$49K	$5.3M	10x	as long as short
RISEx MSTR/USDCshort	+0.0231%	1h	164.15	−0.037%	$266K	$445K	10x
tradeXYZ xyz:MSTR	+0.0256%	1h	164.12	−0.055%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0262%	1h	164.03	−0.112%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0289%	8h	164.32	+0.067%	$1.0M	$2.0M	20x	as long as short
Phoenix MSTR	+0.0340%	1h	164.28	+0.045%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0340%	8h	164.19	−0.012%	$16.7M	$41.0M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0665%	1h	164.11	−0.061%	$279K	$438K	10x	as long as short