Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0993%/8h= −108.7% APRpaid last 24h +0.021%

Price spread now: Bitget against Vest−0.036%7-day average +0.426% · you buy dearer than you sell

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

Long on Vest Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days+0.223%+$22 · spread now −0.036%, 7d avg +0.426%

Together, before fees+0.232%+ Points / potential airdropVest: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Bitget is 0.462% cheaper against Vest than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of +0.426%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.009% in total (about 1.0% 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	Vest MSTR-USD-PERP	165.72	0.0046	pay 0.0006% / 1h	13m 33s	—	$1.7M	25x
Short	Bitget MSTRUSDT	165.66	−0.0947	pay 0.0947% / 8h	5h 13m	$27.7M	$114.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Vest. 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 VestbpFee BitgetbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$208.46
Price spread: −0.036% → +0.426%: −$46.23
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$268.7
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bitget: 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 Vest no order-book sample	—	—	—	—	—
Sell Bitget live order book, 6 min ago	0.30 bp	7.8 bp −$8	10.9 bp −$109	31.2 bp −$3,121	doesn't fit

Vest: 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
Bitget MSTRUSDTshort	−0.0947%	8h	165.66	−0.036%	$27.7M	$114.6M	25x
Aster MSTRUSDT	0.0000%	8h	165.43	−0.173%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.59	−0.078%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.54	−0.109%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0001%	8h	165.62	−0.060%	$20.8M	$100.1M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.48	−0.145%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.44	−0.172%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.184%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.67	−0.029%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.57	−0.091%	$27K	$110K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERPlong	+0.0046%	1h	165.72	long leg	—	$1.7M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	165.46	−0.157%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.39	−0.199%	$882K	$4.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0053%	1h	165.43	−0.175%	$55.1M	$36.8M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.53	−0.115%	$1.4M	$7.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.49	−0.141%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.46	−0.157%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.40	−0.193%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.58	−0.084%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.54	−0.108%	$137	—	10x	as long as short
SoDEX MSTR-USD	+0.0104%	1h	165.55	−0.103%	$44K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0108%	8h	165.64	−0.048%	$88.3M	$616.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0134%	8h	165.52	−0.119%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0161%	8h	165.55	−0.105%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.127%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0216%	1h	165.43	−0.173%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0227%	8h	165.67	−0.030%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.59	−0.078%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.50	−0.136%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0344%	8h	165.69	−0.018%	$17.3M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0657%	1h	165.59	−0.078%	$282K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0965%	4h	165.49	−0.140%	$51K	$5.4M	10x	as long as short