Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1132%/8h= −124.0% APRpaid last 24h −0.030%

Price spread now: Bitget against tradeXYZ+0.091%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.091%, 7d avg +0.081%

Together, before fees−0.198%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.081%, so right now this pair is about funding alone: −$34 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.174% in total (about -9.1% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	164.47	0.0247	pay 0.0031% / 1h	47m 17s	$54.8M	$37.0M	10x
Short	Bitget MSTRUSDT	164.62	−0.0885	pay 0.0885% / 8h	3h 47m	$27.8M	$115.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$237.73
Price spread: +0.091% → +0.081%: $1.04
Slippage, 4 orders: −$7.04
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$273.72
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 2 min ago; Bitget: 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	0.61 bp	9.6 bp −$10	11.7 bp −$117	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.30 bp	8.8 bp −$9	13.6 bp −$136	37.5 bp −$3,746	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
Bitget MSTRUSDTshort	−0.0885%	8h	164.62	+0.091%	$27.8M	$115.3M	25x
Aster MSTRUSDT	0.0000%	8h	164.58	+0.065%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.55	+0.049%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.49	+0.012%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.23	−0.146%	$593K	$1.9M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0032%	8h	164.51	+0.024%	$20.7M	$99.6M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.961%	$8K	$26K	30x	as long as short
Lighter MSTR	+0.0040%	1h	164.32	−0.091%	$3.5M	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.54	+0.043%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.39	−0.049%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.47	0.000%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.38	−0.055%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.40	−0.043%	$858K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.50	+0.018%	$1.4M	$7.3M	10x	as long as short
Variational Omni MSTR	+0.0100%	8h	164.47	−0.002%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.51	+0.022%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.47	0.000%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.24	−0.140%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.49	+0.012%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.42	−0.030%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0140%	8h	164.52	+0.028%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0161%	8h	164.51	+0.024%	$86.9M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.213%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	−0.043%	$75K	$803K	10x	as long as short
edgeX MSTRUSDC	+0.0198%	4h	164.28	−0.116%	$49K	$5.3M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.53	+0.033%	$267K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0245%	1h	164.44	−0.017%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTRlong	+0.0247%	1h	164.47	long leg	$54.8M	$37.0M	10x
BloFin MSTR-USDT	+0.0282%	8h	164.38	−0.055%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.54	+0.043%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.38	−0.055%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0541%	1h	164.47	0.000%	$280K	$438K	10x	as long as short