Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.036%

Price spread now: Gate against SoDEX+0.041%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Gate is 0.041% dearer against SoDEX than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSTR-USD	168.72	0.0050	pay 0.0006% / 1h	29m 10s	$44K	$3K	10x
Short	Gate MSTR_USDT	168.79	0	get 0.0000% / 8h	1h 29m	$4.8M	$19.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SoDEX. 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 SoDEXbpFee GatebpOrdersPrice spread, now +0.041%Rate

Funding earned: −$10.5
Price spread: +0.041% → 0.000%: $4.15
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$29.35
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Gate: live order book, 5 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	2.07 bp	11.5 bp −$11	27.9 bp −$279	doesn't fit	doesn't fit

SoDEX: 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	−0.0117%	1h	168.62	−0.061%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	168.83	+0.065%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.74	+0.012%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.81	+0.051%	$88.2M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.82	+0.059%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.77	+0.030%	$275K	$446K	10x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	168.79	+0.041%	$4.8M	$19.4M	50x
Variational Omni MSTR	0.0000%	8h	168.91	+0.112%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.72	−0.001%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.85	+0.077%	$2.9M	$61K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.83	+0.065%	$28.8M	$119.7M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.72	0.000%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.65	−0.041%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.80	+0.047%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.75	+0.018%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.72	0.000%	$396K	$2.6M	10x	as long as short
SoDEX MSTR-USDlong	+0.0050%	1h	168.72	long leg	$44K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.64	−0.047%	$741K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0052%	8h	168.79	+0.041%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.036%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0062%	1h	168.75	+0.018%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0069%	8h	168.65	−0.042%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.74	+0.010%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.74	+0.012%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.03	+0.184%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.75	+0.018%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.73	+0.005%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.01	+0.174%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0278%	4h	169.05	+0.194%	$47K	$5.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.338%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.85	+0.077%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0639%	1h	168.84	+0.071%	$287K	$439K	10x	as long as short