Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0395%/8h= −43.3% APRpaid last 24h +0.007%

Price spread now: Gate against Pacifica+0.096%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.096%, 7d avg +0.014%

Together, before fees+0.144%+ Points / potential airdropPacifica: Active · farm board+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.081% dearer against Pacifica than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of +0.014%): +$8 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 16 hours. Mind the row above: over the last 7 days funding on this pair paid +0.149%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.149% in total (about 7.8% 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	165.17	0.0100	pay 0.0013% / 1h	53m 51s	$102K	$85K	10x
Short	Gate MSTR_USDT	165.33	−0.0295	pay 0.0295% / 8h	6h 53m	$4.6M	$18.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.096%Rate

Funding earned: −$82.95
Price spread: +0.096% → +0.014%: $8.14
Slippage, 4 orders: −$35.84
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$133.65
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from Pacifica: live order book, 14 min ago; Gate: 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, 14 min ago	0.78 bp	11.5 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.02 bp	25.6 bp −$26	38.6 bp −$386	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
Gate MSTR_USDTshort	−0.0295%	8h	165.33	+0.096%	$4.6M	$18.7M	50x
Bitget MSTRUSDT	−0.0162%	8h	165.38	+0.126%	$27.0M	$114.9M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.33	+0.096%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	165.35	+0.106%	$87.1M	$622.3M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.20	+0.017%	$21.1M	$100.4M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	165.13	−0.022%	$270K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	165.19	+0.011%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	165.32	+0.091%	$83K	$802K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.00	+0.501%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0016%	8h	165.16	−0.007%	$1.0M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.09	−0.047%	$568K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.52	+0.211%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.83	−0.207%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.99	−0.110%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.90	−0.165%	$773K	$4.7M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.98	−0.116%	$1.4M	$8.5M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0073%	1h	164.95	−0.134%	$387K	$2.6M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	165.17	long leg	$102K	$85K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	165.30	+0.077%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.27	+0.059%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.18	+0.005%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.15	−0.016%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0120%	8h	165.06	−0.069%	$66	—	5x	as long as short
Lighter MSTR	+0.0144%	1h	165.25	+0.047%	$3.5M	$1.9M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.11	−0.038%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0259%	1h	165.41	+0.143%	$55K	$219K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0289%	1h	165.17	−0.001%	$55.6M	$36.0M	10x	as long as short
edgeX MSTRUSDC	+0.0336%	4h	165.53	+0.218%	$42K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.523%	$8K	$26K	30x	as long as short
Bybit MSTRUSDT	+0.0348%	8h	165.28	+0.065%	$17.2M	$41.0M	50x	as long as short
Nado MSTR-PERP	+0.0361%	1h	164.89	−0.172%	$134K	$129K	3x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1629%	1h	165.33	+0.096%	$281K	$438K	10x	as long as short