Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.052%

Price spread now: Gate against Variational Omni−0.209%7-day average −0.010% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.207%+$21 on $10k

Price spread, last 7 days+0.219%+$22 · spread now −0.209%, 7d avg −0.010%

Together, before fees+0.426%+ Points / potential airdropVariational Omni: Active · farm board+$43 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.199% cheaper against Variational Omni than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	169.53	0	get 0.0000% / 8h	2h 53m	$1.2M	$2.4M	—
Short	Gate MSTR_USDT	169.18	0	get 0.0000% / 8h	2h 53m	$4.8M	$19.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. 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 Variational OmnibpFee GatebpOrdersPrice spread, now −0.209%Rate

Funding earned: $0
Price spread: −0.209% → −0.010%: −$19.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.87
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Gate: live order book, 6 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 Variational Omni RFQ quote, 1 min ago	2.95 bp	doesn't fit	18.1 bp −$181	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.95 bp	18.9 bp −$19	28.0 bp −$280	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
Nado MSTR-PERP	−0.0122%	1h	169.08	−0.267%	$139K	$107K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.16	−0.220%	$1.3M	$6.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.22	−0.182%	$299K	$466K	10x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	169.18	−0.209%	$4.8M	$19.4M	50x
Variational Omni MSTRlong	0.0000%	8h	169.53	long leg	$1.2M	$2.4M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	169.46	−0.043%	$83K	$969K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.15	−0.227%	$2.9M	$55K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0027%	8h	169.17	−0.215%	$22.1M	$108.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	169.12	−0.244%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.10	−0.258%	$588K	$1.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MSTR-USDT	+0.0036%	8h	169.27	−0.156%	$1.1M	$1.7M	20x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.14	−0.232%	$1.5M	$10.2M	10x	as long as short
Binance MSTRUSDT	+0.0041%	8h	169.19	−0.206%	$88.9M	$630.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.250%	$1.5M	$1.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0048%	1h	169.33	−0.120%	—	$2.1M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.10	−0.256%	$56.9M	$38.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.16	−0.221%	$412K	$2.5M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.13	−0.238%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.19	−0.203%	$780K	$5.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0076%	8h	169.10	−0.254%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.13	−0.240%	$103K	$154K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.22	−0.185%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.63	+0.057%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.16	−0.221%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.21	−0.190%	$140	—	10x	as long as short
Bitget MSTRUSDT	+0.0115%	8h	169.15	−0.227%	$28.8M	$119.6M	25x	as long as short
Bybit MSTRUSDT	+0.0142%	8h	169.22	−0.185%	$15.2M	$41.7M	50x	as long as short
Phoenix MSTR	+0.0184%	1h	169.87	+0.195%	$57K	$396K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0400%	1h	169.24	−0.174%	$288K	$439K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.21	−0.191%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.90	+0.216%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0992%	4h	169.39	−0.082%	$49K	$5.4M	10x	as long as short