Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h −0.101%

Price spread now: BloFin against edgeX+0.076%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on edgeX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)−0.197%−$20 · spread now +0.076%, 7d avg +0.017%

Together, before fees+0.029%+ Points / potential airdropedgeX: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.059% dearer against edgeX than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of +0.017%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours. Mind the row above: over the last 7 days funding on this pair paid +0.226%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	163.93	0.0400	pay 0.0200% / 4h	3h 17m	$49K	$5.3M	10x
Short	BloFin MSTR-USDT	164.05	0.0285	get 0.0285% / 8h	3h 17m	$1.0M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against edgeX. 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 edgeXbpFee BloFinbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$24.12
Price spread: +0.076% → +0.017%: $5.89
Slippage, 4 orders: −$16.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$56.04
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; BloFin: live order book, 6 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 edgeX live order book, 2 min ago	6.10 bp	10.9 bp −$11	17.5 bp −$175	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.83 bp	7.9 bp −$8	10.3 bp −$103	14.8 bp −$1,484	39.4 bp −$19.7K

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 MSTRUSDT	−0.0945%	8h	164.23	+0.186%	$27.2M	$116.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.09	+0.098%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.10	+0.106%	$4.6M	$19.2M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.21	+0.174%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	164.12	+0.119%	$3.5M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.93	0.000%	$601K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.303%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.10	+0.106%	$26K	$110K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.92	−0.003%	—	$1.7M	25x	as long as short
OKX MSTR-USDT-SWAP	+0.0047%	8h	163.98	+0.033%	$20.8M	$99.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.06	+0.082%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.11	+0.113%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.80	−0.077%	$846K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.09	+0.100%	$1.4M	$7.3M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	164.17	+0.152%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	164.11	+0.114%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.03	+0.064%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.89	−0.022%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.11	+0.113%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0102%	8h	164.03	+0.062%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.13	+0.123%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0165%	8h	164.06	+0.082%	$86.5M	$618.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0166%	8h	164.07	+0.085%	$76K	$826K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.88	−0.028%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.15	+0.137%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0250%	1h	163.98	+0.030%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0262%	1h	164.01	+0.052%	$54.6M	$37.1M	10x	as long as short
BloFin MSTR-USDTshort	+0.0285%	8h	164.05	+0.076%	$1.0M	$2.1M	20x
Bybit MSTRUSDT	+0.0323%	8h	164.12	+0.119%	$16.6M	$41.1M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.02	+0.055%	$56K	$226K	10x	as long as short
edgeX MSTRUSDClong	+0.0400%	4h	163.93	long leg	$49K	$5.3M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0665%	1h	164.15	+0.137%	$279K	$438K	10x	as long as short