Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.036%

Price spread now: SoDEX against Gate+0.012%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	168.69	0	get 0.0000% / 8h	1h 29m	$4.8M	$19.4M	50x
Short	SoDEX MSTR-USD	168.71	0.0050	get 0.0006% / 1h	29m 48s	$44K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.012%Rate

Funding earned: $10.5
Price spread: +0.012% → 0.000%: $1.19
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$11.31
Costs to cover: 0.230%
Break-even: 14.5 days

Slippage unknown: Gate: live order book, 4 min ago; SoDEX: 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, 4 min ago	2.07 bp	17.8 bp −$18	34.6 bp −$346	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Nado MSTR-PERP	−0.0118%	1h	168.61	−0.050%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.71	+0.013%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.71	+0.014%	$88.1M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.77	+0.047%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.72	+0.021%	$275K	$446K	10x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	168.69	long leg	$4.8M	$19.4M	50x
Variational Omni MSTR	0.0000%	8h	168.91	+0.130%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.12	+0.255%	$74K	$925K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.78	+0.053%	$2.9M	$61K	10x	as long as short
BloFin MSTR-USDT	+0.0016%	8h	168.86	+0.101%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.74	+0.030%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.67	−0.012%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.58	−0.064%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.73	+0.024%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.73	+0.024%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.66	−0.018%	$399K	$2.6M	10x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	168.71	+0.012%	$44K	$3K	10x
Bybit MSTRUSDT	+0.0050%	8h	168.70	+0.006%	$15.1M	$40.9M	50x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.79	+0.059%	$741K	$5.2M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.018%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0059%	1h	168.67	−0.012%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	168.65	−0.023%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.67	−0.014%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.67	−0.012%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	+0.202%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.70	+0.006%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.68	−0.006%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	+0.191%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0278%	4h	169.05	+0.212%	$47K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.356%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.78	+0.053%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0521%	1h	168.75	+0.036%	$287K	$439K	10x	as long as short