Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0432%/8h= +47.3% APRpaid last 24h +0.031%

Price spread now: edgeX against Bitget−0.033%94s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.381% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.130%−$13 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.033%, 7d avg −0.025%

Together, before fees−0.123%+ Points / potential airdropedgeX: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.130%, so the current rate has only just turned in your favour. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.130% in total (about -6.8% 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	Bitget MSTRUSDT	169.00	0.0034	pay 0.0034% / 8h	1h 05m	$28.7M	$119.5M	25x
Short	edgeX MSTRUSDC	168.94	0.0466	get 0.0233% / 4h	1h 05m	$47K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $90.72
Price spread: −0.033% → −0.025%: −$0.85
Slippage, 4 orders: −$17.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $51.74
Costs to cover: 0.381%
Break-even: 3.0 days

Slippage from Bitget: live order book, 8 min ago; edgeX: live order book, 3 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 Bitget live order book, 8 min ago	0.30 bp	9.6 bp −$10	15.0 bp −$150	34.8 bp −$3,478	doesn't fit
Sell edgeX live order book, 3 min ago	5.62 bp	10.5 bp −$11	16.8 bp −$168	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	−0.0062%	1h	168.96	−0.024%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.03	+0.015%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.06	+0.036%	$89.3M	$628.8M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.06	+0.036%	$22.0M	$106.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.13	+0.077%	$275K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.03	+0.018%	$4.8M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.92	−0.049%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.06	+0.034%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.08	+0.047%	$2.9M	$63K	10x	as long as short
BloFin MSTR-USDT	+0.0004%	8h	169.07	+0.041%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	168.96	−0.024%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.88	−0.069%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDTlong	+0.0034%	8h	169.00	long leg	$28.7M	$119.5M	25x
QFEX MSTR-USD	+0.0042%	1h	169.09	+0.053%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.05	+0.030%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.00	0.000%	$398K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.07	+0.041%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.63	−0.219%	$780K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.041%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0065%	8h	169.06	+0.036%	$15.2M	$40.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0083%	8h	169.03	+0.015%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0098%	1h	168.97	−0.018%	$57.0M	$37.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.03	+0.015%	$104K	$103K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.97	−0.018%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.91	−0.053%	$4K	$398K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.03	+0.018%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.03	+0.016%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	−0.002%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.189%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.12	+0.071%	$27K	$129K	10x	as long as short
edgeX MSTRUSDCshort	+0.0466%	4h	168.94	−0.033%	$47K	$5.5M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0875%	1h	169.13	+0.077%	$288K	$439K	10x	as long as short