Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1269%/8h= +139.0% APRpaid last 24h −0.004%

Price spread now: Aevo against Bitget−0.120%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.120% cheaper against Bitget than usual: you would sell low and buy high (spread −0.120% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 8 hours of funding at the current rate (+$38 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSTRUSDT	162.07	−0.1165	get 0.1165% / 8h	2h 28m	$26.9M	$117.8M	25x
Short	Aevo MSTR-PERP	161.87	0.0104	get 0.0013% / 1h	28m 01s	$134	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.120%Rate

Funding earned: $266.49
Price spread: −0.120% → 0.000%: −$12.04
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: $226.45
Costs to cover: 0.280%
Break-even: 1.1 days

Slippage unknown: Bitget: live order book, 1 min ago; Aevo: no order-book sample. 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 Bitget live order book, 1 min ago	0.31 bp	8.9 bp −$9	16.3 bp −$163	27.1 bp −$2,714	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 MSTRUSDTlong	−0.1165%	8h	162.07	long leg	$26.9M	$117.8M	25x
Aster MSTRUSDT	0.0000%	8h	161.78	−0.177%	$1.7M	$8.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	161.98	−0.056%	$4.6M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.30	+0.142%	$2.7M	$77K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	161.68	−0.244%	$497K	$2.0M	10x	as long as short
Vest MSTR-USD-PERP	+0.0033%	1h	161.61	−0.284%	—	$1.8M	25x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.486%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.44	+0.228%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	161.89	−0.111%	$374K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	161.89	−0.111%	$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	162.18	+0.068%	$867K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	161.94	−0.080%	$1.4M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	161.95	−0.074%	$263K	$443K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0092%	8h	161.82	−0.154%	$20.4M	$99.5M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	161.98	−0.055%	$99K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	161.71	−0.222%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.29	+0.136%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	161.83	−0.148%	$3K	$8K	10x	as long as short
Aevo MSTR-PERPshort	+0.0104%	1h	161.87	−0.120%	$134	—	10x
Variational Omni MSTR	+0.0124%	8h	162.32	+0.154%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0149%	8h	161.92	−0.092%	$65	—	5x	as long as short
Lighter MSTR	+0.0160%	1h	161.83	−0.148%	$3.4M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.81	−0.160%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0197%	8h	161.77	−0.185%	$83.5M	$627.7M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0210%	8h	162.40	+0.206%	$79K	$831K	10x	as long as short
BloFin MSTR-USDT	+0.0317%	8h	162.23	+0.099%	$1.0M	$2.1M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0350%	1h	161.81	−0.160%	$53.8M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0362%	1h	162.41	+0.210%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0370%	8h	161.87	−0.123%	$16.4M	$41.6M	50x	as long as short
Nado MSTR-PERP	+0.0376%	1h	161.93	−0.083%	$129K	$157K	3x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0430%	1h	161.77	−0.185%	$275K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0858%	4h	162.53	+0.285%	$48K	$5.4M	10x	as long as short