Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0222%/8h= +24.3% APRpaid last 24h +0.062%

Price spread now: tradeXYZ against Gate−0.096%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 7 days−0.027%−$3 · spread now −0.096%, 7d avg −0.082%

Together, before fees−0.111%+ Points / potential airdroptradeXYZ: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	166.16	0	get 0.0000% / 8h	5h 07m	$4.9M	$17.9M	50x
Short	tradeXYZ xyz:MSTR	166.00	0.0222	get 0.0028% / 1h	7m 04s	$54.8M	$33.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.096%Rate

Funding earned: $46.59
Price spread: −0.096% → −0.082%: −$1.38
Slippage, 4 orders: −$19.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$7.45
Costs to cover: 0.527%
Break-even: 8.1 days

Slippage from Gate: live order book, 5 min ago; tradeXYZ: live order book, 6 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	2.11 bp	16.2 bp −$16	41.0 bp −$410	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.90 bp	10.5 bp −$10	12.5 bp −$125	doesn't fit	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.566%	$7K	$28K	30x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	166.16	long leg	$4.9M	$17.9M	50x
Bitget MSTRUSDT	0.0000%	8h	166.13	−0.018%	$32.3M	$103.1M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.09	−0.042%	$2.8M	$83K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.03	−0.078%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.91	−0.150%	$563K	$1.9M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.07	−0.054%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	165.97	−0.114%	$1.3M	$5.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.00	−0.096%	$391K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.03	−0.078%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.65	−0.307%	$858K	$3.2M	10x	as long as short
Nado MSTR-PERP	+0.0068%	1h	165.93	−0.138%	$127K	$127K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.58	−0.349%	$1.4M	$356K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	166.02	−0.083%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.94	−0.131%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.87	−0.175%	$2.3M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.90	−0.156%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.00	−0.096%	$2K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.02	−0.083%	$138	—	10x	as long as short
Bybit MSTRUSDT	+0.0171%	8h	166.13	−0.018%	$16.6M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTRshort	+0.0222%	1h	166.00	−0.096%	$54.8M	$33.5M	10x
Aster MSTRUSDT	+0.0257%	8h	166.02	−0.087%	$1.8M	$6.3M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0259%	8h	166.08	−0.048%	$21.8M	$80.5M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	165.93	−0.138%	$55K	$213K	10x	as long as short
Variational Omni MSTR	+0.0351%	8h	165.80	−0.215%	$1.2M	$1.6M	—	as long as short
GRVT MSTR_USDT_Perp	+0.0433%	8h	166.02	−0.082%	$85K	$922K	10x	as long as short
Binance MSTRUSDT	+0.0435%	8h	166.08	−0.049%	$87.1M	$519.6M	50x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.04	−0.070%	$274K	$348K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0534%	1h	166.04	−0.072%	$282K	$184K	10x	as long as short
BloFin MSTR-USDT	+0.0567%	8h	166.06	−0.060%	$1.1M	$2.0M	20x	as long as short
edgeX MSTRUSDC	+0.0632%	4h	165.87	−0.178%	$49K	$4.6M	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.10	−0.036%	$26K	$63K	10x	as long as short