Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.044%

Price spread now: edgeX against GRVT−0.043%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on GRVT Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 3 days (all we have)+0.045%+$4 · spread now −0.043%, 7d avg −0.022%

Together, before fees−0.057%+ Points / potential airdropGRVT: Active · edgeX: Active · farm board−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.020% cheaper against GRVT than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of −0.022%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.102%, 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 -0.102% in total (about -5.3% 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	GRVT MSTR_USDT_Perp	169.12	0	get 0.0000% / 8h	1h 30m	$74K	$925K	10x
Short	edgeX MSTRUSDC	169.05	0.0278	get 0.0139% / 4h	1h 30m	$47K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $58.31
Price spread: −0.043% → −0.022%: −$2.02
Slippage, 4 orders: −$23.91
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $14.37
Costs to cover: 0.419%
Break-even: 5.3 days

Slippage from GRVT: live order book, 52 min ago; edgeX: live order book, 3 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 GRVT live order book, 52 min ago	1.47 bp	12.3 bp −$12	22.4 bp −$224	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	5.91 bp	10.8 bp −$11	17.2 bp −$172	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	−0.0116%	1h	168.87	−0.146%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.74	−0.225%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.73	−0.229%	$88.2M	$629.0M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.70	−0.248%	$22.0M	$106.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.93	−0.112%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.70	−0.248%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.07	−0.032%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perplong	0.0000%	8h	169.12	long leg	$74K	$925K	10x
Phemex MSTRUSDT	0.0000%	4h	168.80	−0.189%	$2.9M	$61K	10x	as long as short
BloFin MSTR-USDT	+0.0016%	8h	168.86	−0.154%	$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	+0.0029%	8h	168.69	−0.254%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.62	−0.296%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.69	−0.253%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.89	−0.136%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.94	−0.106%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.86	−0.154%	$399K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.79	−0.195%	$44K	$3K	10x	as long as short
Bybit MSTRUSDT	+0.0050%	8h	168.69	−0.254%	$15.1M	$40.9M	50x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.79	−0.195%	$741K	$5.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0056%	1h	168.67	−0.266%	$56.8M	$38.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.112%	$1.5M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	168.65	−0.277%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.67	−0.268%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.69	−0.254%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	−0.053%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.74	−0.225%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.76	−0.211%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	−0.063%	$57K	$394K	10x	as long as short
edgeX MSTRUSDCshort	+0.0278%	4h	169.05	−0.043%	$47K	$5.4M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0283%	1h	168.86	−0.154%	$287K	$439K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.101%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.99	−0.077%	$27K	$129K	10x	as long as short