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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0545%/8h= +59.7% APRpaid last 24h +0.169%
Price spread now: edgeX against Polymarket Perps+0.165%64s7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs−$43as 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−$370.368% of the position
Long on Polymarket PerpsShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.059%−$6 on $10k
Price spread, last 7 days−0.029%−$3 · spread now +0.165%, 7d avg +0.068%
Together, before fees−0.088%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and edgeX is 0.097% dearer against Polymarket Perps than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.068%. Mind the row above: over the last 7 days funding on this pair cost −0.059%, so the current rate has only just turned in your favour. The two prices were read 64 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 -0.059% in total (about -3.1% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps MSTR-USD163.530.0050pay 0.0006% / 1h0m 35s$379K$2.7M10x
ShortedgeX MSTRUSDC163.800.0595get 0.0298% / 4h3h 00m$48K$5.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX against Polymarket Perps. 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

Funding earned
$114.48
Price spread: +0.165% → +0.068%
$9.7
Slippage, 4 orders
−$19.81
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
$87.37
Costs to cover
0.368%
Break-even
1.7 days
Slippage from Polymarket Perps: live order book, 3 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
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 3 min ago1.83 bp9.2 bp −$99.5 bp −$9511.6 bp −$1,163doesn't fit
Sell edgeX live order book, 3 min ago5.80 bp10.8 bp −$1118.3 bp −$183doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0978%8h163.75+0.135%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.57+0.025%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.68+0.092%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.91+0.232%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.55+0.012%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.48−0.031%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.553%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.79+0.159%$26K$109K10xas long as short
OKX MSTR-USDT-SWAP+0.0042%8h163.62+0.055%$20.7M$98.9M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.34−0.116%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USDlong+0.0050%1h163.53long leg$379K$2.7M10x
SoDEX MSTR-USD+0.0050%1h163.64+0.067%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.41−0.073%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.56+0.018%$1.4M$7.2M10xas long as short
Paradex MSTR-USD-PERP+0.0076%8h163.56+0.017%$65—5xas long as short
Variational Omni MSTR+0.0089%8h163.65+0.071%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.60+0.043%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.57+0.024%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.60+0.043%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.58+0.031%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.61+0.049%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0149%8h163.93+0.246%$83K$824K10xas long as short
Binance MSTRUSDT+0.0156%8h163.61+0.049%$85.8M$618.8M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57+0.024%$1.4M$1.1M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.62+0.052%$265K$445K10xas long as short
Nado MSTR-PERP+0.0239%1h163.53+0.003%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0252%1h163.56+0.018%$54.5M$37.1M10xas long as short
BloFin MSTR-USDT+0.0275%8h163.73+0.122%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0309%8h163.65+0.073%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.67+0.087%$56K$226K10xas long as short
edgeX MSTRUSDCshort+0.0595%4h163.80+0.165%$48K$5.4M10x
Deribit MSTR_USDC-PERPETUAL+0.0851%1h163.65+0.073%$278K$438K10xas long as short