Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.027%

Price spread now: Aevo against OKX−0.061%7-day average — · you buy dearer than you sell

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

Long on OKX 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—needs both histories

Funding pays, the price is against you. Aevo is 0.061% cheaper against OKX than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 47 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSTR-USDT-SWAP	169.65	0	get 0.0000% / 8h	2h 21m	$22.1M	$107.7M	50x
Short	Aevo MSTR-PERP	169.55	0.0104	get 0.0013% / 1h	21m 52s	$141	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now −0.061%Rate

Funding earned: $21.84
Price spread: −0.061% → 0.000%: −$6.15
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$10.31
Costs to cover: 0.260%
Break-even: 10.3 days

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	0.88 bp	7.4 bp −$7	17.0 bp −$170	69.3 bp −$6,928	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 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	−0.0063%	1h	169.40	−0.147%	$140K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	169.62	−0.018%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.54	−0.064%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.68	+0.018%	$88.9M	$629.7M	50x	as long as short
OKX MSTR-USDT-SWAPlong	0.0000%	8h	169.65	long leg	$22.1M	$107.7M	50x
RISEx MSTR/USDC	0.0000%	1h	169.59	−0.036%	$297K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.58	−0.041%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.58	−0.042%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	−0.123%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.64	−0.006%	$2.9M	$57K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.49	−0.094%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.34	−0.185%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.62	−0.018%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.75	+0.059%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.318%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.49	−0.094%	$56.7M	$38.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.56	−0.053%	$419K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.66	+0.006%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.59	−0.035%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0074%	8h	169.68	+0.018%	$28.9M	$119.8M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0078%	8h	169.54	−0.063%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0099%	8h	169.66	+0.006%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.54	−0.064%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.41	−0.141%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.37	−0.165%	$4K	$934K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.55	−0.059%	$3K	$12K	10x	as long as short
Aevo MSTR-PERPshort	+0.0104%	1h	169.55	−0.061%	$141	—	10x
Phoenix MSTR	+0.0184%	1h	169.44	−0.125%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0387%	4h	169.35	−0.175%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.63	−0.012%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.324%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1107%	1h	169.66	+0.006%	$288K	$438K	10x	as long as short