Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0475%/8h= −52.0% APRpaid last 24h −0.031%

Price spread now: Gate against tradeXYZ+0.042%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.042%, 7d avg +0.081%

Together, before fees+0.081%+ Points / potential airdroptradeXYZ: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Gate is 0.039% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.081%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.093%, 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 0.093% in total (about 4.8% 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	tradeXYZ xyz:MSTR	166.39	0.0240	pay 0.0030% / 1h	3m 10s	$56.2M	$35.9M	10x
Short	Gate MSTR_USDT	166.46	−0.0235	pay 0.0235% / 8h	7h 03m	$4.7M	$19.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.042%Rate

Funding earned: −$99.73
Price spread: +0.042% → +0.081%: −$3.86
Slippage, 4 orders: −$15.2
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$151.8
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	0.30 bp	9.3 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.00 bp	16.3 bp −$16	35.5 bp −$355	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	−0.0235%	8h	166.46	+0.042%	$4.7M	$19.2M	50x
BloFin MSTR-USDT	−0.0028%	8h	166.50	+0.066%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	166.39	+0.002%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.37	−0.012%	$87.4M	$614.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.40	+0.006%	$21.4M	$99.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.50	+0.066%	$27.5M	$113.8M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	166.78	+0.237%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	166.87	+0.288%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.92	+0.319%	$2.8M	$67K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.37	−0.012%	$3.5M	$2.0M	10x	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	166.24	−0.090%	$574K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.45	+0.036%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.95	+0.337%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.28	−0.066%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.36	−0.018%	$390K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.50	+0.066%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.45	+0.036%	$773K	$4.8M	10x	as long as short
Nado MSTR-PERP	+0.0057%	1h	166.16	−0.137%	$135K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	166.69	+0.180%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.58	+0.112%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.42	+0.018%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.82	+0.258%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.44	+0.030%	$3K	$7K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0104%	8h	166.41	+0.010%	$67	—	5x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.40	+0.009%	$138	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.773%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTRlong	+0.0240%	1h	166.39	long leg	$56.2M	$35.9M	10x
Bybit MSTRUSDT	+0.0258%	8h	166.47	+0.048%	$16.8M	$40.1M	50x	as long as short
Phoenix MSTR	+0.0259%	1h	166.74	+0.209%	$56K	$384K	10x	as long as short
edgeX MSTRUSDC	+0.0334%	4h	166.79	+0.243%	$43K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.53	+0.087%	$271K	$434K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0893%	1h	166.46	+0.042%	$283K	$438K	10x	as long as short