Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0045%/8h= −5.0% APRpaid last 24h −0.002%

Price spread now: Binance against tradeXYZ+0.074%7-day average +0.097% · 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−$35as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.074%, 7d avg +0.097%

Together, before fees−0.130%+ Points / potential airdroptradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.023% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	163.03	0.0278	pay 0.0035% / 1h	27m 07s	$54.1M	$37.4M	10x
Short	Binance MSTRUSDT	163.15	0.0232	get 0.0232% / 8h	1h 27m	$83.9M	$627.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.074%Rate

Funding earned: −$9.54
Price spread: +0.074% → +0.097%: −$2.3
Slippage, 4 orders: −$4.2
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$44.04
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 2 min ago; Binance: live order book, 2 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 tradeXYZ live order book, 2 min ago	0.31 bp	11.0 bp −$11	13.7 bp −$137	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.61 bp	6.2 bp −$6	10.8 bp −$108	36.4 bp −$3,637	132.7 bp −$66.3K

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
Bitget MSTRUSDT	−0.0940%	8h	163.32	+0.178%	$28.7M	$118.7M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.17	+0.086%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.07	+0.025%	$2.7M	$79K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.94	−0.055%	$508K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.870%	$8K	$26K	30x	as long as short
Aster MSTRUSDT	+0.0036%	8h	163.09	+0.040%	$1.8M	$8.7M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.92	−0.067%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.69	−0.209%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.97	−0.037%	$377K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.07	+0.025%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.82	−0.129%	$849K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	163.04	+0.006%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.05	+0.015%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.97	−0.037%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.70	−0.202%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.18	+0.092%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.12	+0.055%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0150%	8h	163.14	+0.067%	$20.7M	$100.3M	50x	as long as short
Variational Omni MSTR	+0.0151%	8h	162.75	−0.174%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0152%	1h	163.06	+0.018%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.926%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0166%	8h	163.01	−0.010%	$65	—	5x	as long as short
Binance MSTRUSDTshort	+0.0232%	8h	163.15	+0.074%	$83.9M	$627.5M	50x
GRVT MSTR_USDT_Perp	+0.0242%	8h	162.87	−0.098%	$77K	$878K	10x	as long as short
tradeXYZ xyz:MSTRlong	+0.0278%	1h	163.03	long leg	$54.1M	$37.4M	10x
Phoenix MSTR	+0.0328%	1h	162.77	−0.159%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0352%	8h	163.17	+0.086%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0354%	1h	162.89	−0.086%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	163.12	+0.055%	$264K	$428K	10x	as long as short
Bybit MSTRUSDT	+0.0385%	8h	163.15	+0.074%	$16.8M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0496%	4h	162.92	−0.070%	$46K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1039%	1h	163.12	+0.055%	$277K	$437K	10x	as long as short