Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0880%/8h= +96.3% APRpaid last 24h +0.027%

Price spread now: edgeX against Pacifica−0.124%52s7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.418% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.244%−$24 on $10k

Price spread, last 4 days (all we have)+1.060%+$106 · spread now −0.124%, 7d avg +0.064%

Together, before fees+0.816%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.188% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.124% now, against its 7-day average of +0.064%). If the spread goes back, that is −$19 on $10k: about 17 hours of funding at the current rate (+$26 a day). Mind the row above: over the last 7 days funding on this pair cost −0.244%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.244% in total (about -12.7% 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	Pacifica MSTR	169.50	0.0100	pay 0.0013% / 1h	54m 09s	$105K	$104K	10x
Short	edgeX MSTRUSDC	169.29	0.0980	get 0.0490% / 4h	54m 09s	$47K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Pacifica. 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 PacificabpFee edgeXbpOrdersPrice spread, now −0.124%Rate

Funding earned: $184.78
Price spread: −0.124% → +0.064%: −$18.81
Slippage, 4 orders: −$24.84
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $124.12
Costs to cover: 0.418%
Break-even: 2.3 days

Slippage from Pacifica: live order book, 23 min ago; edgeX: live order book, 5 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 Pacifica live order book, 23 min ago	2.60 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	5.61 bp	10.6 bp −$11	17.4 bp −$174	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
BloFin MSTR-USDT	−0.0009%	8h	169.56	+0.035%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.22	−0.164%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.58	+0.047%	$89.5M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.57	+0.041%	$22.1M	$106.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.51	+0.006%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	−0.070%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.32	−0.107%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.55	+0.029%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.57	+0.041%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.30	−0.118%	$583K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	169.64	+0.083%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0046%	8h	169.54	+0.024%	$28.8M	$120.6M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.55	+0.029%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.46	−0.024%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.40	−0.059%	$781K	$5.2M	10x	as long as short
Nado MSTR-PERP	+0.0076%	1h	169.39	−0.067%	$140K	$97K	3x	as long as short
Bybit MSTRUSDT	+0.0083%	8h	169.60	+0.059%	$15.2M	$40.6M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	−0.242%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	169.50	long leg	$105K	$104K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	169.32	−0.106%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.260%	$4K	$394K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	−0.006%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	−0.248%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.50	0.000%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0106%	8h	169.49	−0.004%	$68	—	5x	as long as short
Lighter MSTR	+0.0144%	1h	169.51	+0.006%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0160%	1h	169.46	−0.024%	$57.2M	$37.4M	10x	as long as short
SoDEX MSTR-USD	+0.0228%	1h	169.56	+0.035%	$45K	$3K	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.20	−0.177%	$57K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.56	+0.035%	$27K	$129K	10x	as long as short
edgeX MSTRUSDCshort	+0.0980%	4h	169.29	−0.124%	$47K	$5.5M	10x
Deribit MSTR_USDC-PERPETUAL	+0.1049%	1h	169.59	+0.053%	$288K	$439K	10x	as long as short