Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0353%/8h= −38.6% APRpaid last 24h 0.000%

Price spread now: Gate against Nado+0.141%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$860.857% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.270%+$27 on $10k

Price spread, last 4 days (all we have)−0.333%−$33 · spread now +0.141%, 7d avg +0.014%

Together, before fees−0.063%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.127% dearer against Nado than usual: you sell high and buy low (spread +0.141% now, against its 7-day average of +0.014%): +$13 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 3 days funding on this pair paid +0.270%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSTR-PERP	162.64	0.0353	pay 0.0044% / 1h	17m 49s	$130K	$157K	3x
Short	Gate MSTR_USDT	162.87	0	get 0.0000% / 8h	2h 17m	$4.7M	$19.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now +0.141%Rate

Funding earned: −$74.04
Price spread: +0.141% → +0.014%: $12.72
Slippage, 4 orders: −$63.71
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$147.03
Costs to cover: 0.857%
Break-even: never at this rate

Slippage from Nado: live order book, 30 min ago; Gate: live order book, 1 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 Nado live order book, 30 min ago	8.25 bp	24.8 bp −$25	81.5 bp −$815	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.23 bp	14.8 bp −$15	49.2 bp −$492	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
Bitget MSTRUSDT	−0.1309%	8h	163.00	+0.221%	$27.1M	$118.2M	25x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	162.87	+0.141%	$4.7M	$19.7M	50x
Phemex MSTRUSDT	0.0000%	4h	162.91	+0.165%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0003%	8h	162.81	+0.103%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0021%	1h	162.44	−0.124%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.69	+0.033%	$503K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.119%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.48	−0.099%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.76	+0.073%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.75	+0.067%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.56	−0.050%	$866K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	162.67	+0.018%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.78	+0.082%	$264K	$443K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.69	+0.033%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.77	+0.079%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	161.80	−0.517%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.83	+0.116%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.83	+0.114%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0105%	8h	162.84	+0.122%	$20.6M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	−0.255%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0144%	1h	162.81	+0.104%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0149%	8h	162.73	+0.058%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.689%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0207%	8h	162.82	+0.110%	$83.5M	$628.0M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0214%	8h	161.97	−0.413%	$78K	$850K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0307%	1h	162.74	+0.061%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.68	+0.024%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERPlong	+0.0353%	1h	162.64	long leg	$130K	$157K	3x
Phoenix MSTR	+0.0362%	1h	162.32	−0.194%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.87	+0.141%	$16.7M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0611%	1h	162.81	+0.104%	$277K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0737%	4h	162.33	−0.190%	$45K	$5.4M	10x	as long as short