Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h +0.028%

Price spread now: Aevo against GRVT+0.046%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. Aevo is 0.046% dearer against GRVT than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 9.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSTR_USDT_Perp	165.00	0.0120	pay 0.0120% / 8h	6h 25m	$79K	$810K	10x
Short	Aevo MSTR-PERP	165.08	0.0104	get 0.0013% / 1h	25m 13s	$137	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against GRVT. 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 GRVTbpFee AevobpOrdersPrice spread, now +0.046%Rate

Funding earned: −$3.36
Price spread: +0.046% → 0.000%: $4.56
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$23.8
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 43 min ago; Aevo: 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 GRVT live order book, 43 min ago	3.60 bp	12.6 bp −$13	16.8 bp −$168	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 31 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	−0.1024%	8h	165.19	+0.114%	$27.5M	$115.5M	25x	as long as short
Gate MSTR_USDT	−0.0146%	8h	165.12	+0.071%	$4.6M	$19.0M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.08	+0.047%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.12	+0.071%	$20.9M	$100.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	165.07	+0.041%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	165.11	+0.064%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.18	+0.108%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.91	−0.056%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.90	−0.062%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.01	+0.005%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.71	−0.177%	$918K	$4.7M	10x	as long as short
Binance MSTRUSDT	+0.0054%	8h	165.11	+0.064%	$88.0M	$624.3M	50x	as long as short
QFEX MSTR-USD	+0.0064%	1h	165.00	−0.002%	$1.4M	$8.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.02	+0.011%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.93	−0.044%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.62	−0.232%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.05	+0.029%	$3K	$8K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0100%	1h	165.03	+0.017%	$384K	$2.7M	10x	as long as short
Aevo MSTR-PERPshort	+0.0104%	1h	165.08	+0.046%	$137	—	10x
Lighter MSTR	+0.0112%	1h	165.02	+0.011%	$3.5M	$1.9M	10x	as long as short
SoDEX MSTR-USD	+0.0117%	1h	165.05	+0.029%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perplong	+0.0120%	8h	165.00	long leg	$79K	$810K	10x
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.89	−0.068%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0175%	8h	165.01	+0.003%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0263%	1h	164.97	−0.020%	$55.3M	$36.6M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.629%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0376%	1h	164.95	−0.034%	$112K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.86	−0.088%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0399%	8h	165.18	+0.108%	$17.2M	$41.2M	50x	as long as short
edgeX MSTRUSDC	+0.0686%	4h	165.05	+0.031%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0902%	1h	165.17	+0.101%	$281K	$438K	10x	as long as short