Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.052%

Price spread now: Variational Omni against Gate−0.026%7-day average +0.010% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.207%−$21 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.026%, 7d avg +0.010%

Together, before fees−0.191%+ Points / potential airdropVariational Omni: Active · farm board−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.036% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	169.20	0	get 0.0000% / 8h	2h 48m	$4.8M	$19.5M	50x
Short	Variational Omni MSTR	169.16	0	get 0.0000% / 8h	2h 48m	$1.2M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → +0.010%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.63
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Variational Omni: RFQ quote, 1 min ago. 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, 5 min ago	2.07 bp	12.6 bp −$13	42.8 bp −$428	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.96 bp	doesn't fit	16.6 bp −$166	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	−0.0164%	1h	169.14	−0.036%	$139K	$107K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.33	+0.077%	$1.3M	$6.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.28	+0.047%	$299K	$449K	10x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	169.20	long leg	$4.8M	$19.5M	50x
Variational Omni MSTRshort	0.0000%	8h	169.16	−0.026%	$1.2M	$2.4M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	169.17	−0.018%	$83K	$969K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	0.0000%	1h	169.23	+0.018%	$288K	$439K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.18	−0.012%	$2.9M	$56K	10x	as long as short
Binance MSTRUSDT	+0.0011%	8h	169.27	+0.041%	$88.6M	$630.4M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0014%	8h	169.29	+0.053%	$22.1M	$107.3M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MSTR-USDT	+0.0030%	8h	169.15	−0.030%	$1.1M	$1.8M	20x	as long as short
Lighter MSTR	+0.0032%	1h	169.11	−0.053%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.18	−0.013%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.21	+0.006%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.39	+0.112%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.053%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.18	−0.012%	$56.9M	$38.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.25	+0.030%	$426K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.16	−0.024%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.02	−0.106%	$735K	$5.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0073%	8h	169.22	+0.010%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.21	+0.003%	$103K	$154K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.20	0.000%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.32	+0.071%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.27	+0.041%	$3K	$12K	10x	as long as short
Bitget MSTRUSDT	+0.0101%	8h	169.27	+0.041%	$28.9M	$119.3M	25x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.27	+0.040%	$140	—	10x	as long as short
Bybit MSTRUSDT	+0.0126%	8h	169.23	+0.018%	$15.2M	$41.5M	50x	as long as short
Phoenix MSTR	+0.0184%	1h	169.33	+0.074%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.29	+0.053%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.414%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0735%	4h	169.20	+0.001%	$49K	$5.4M	10x	as long as short