Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0743%/8h= −81.3% APRpaid last 24h −0.146%

Price spread now: Gate against edgeX+0.161%112s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as 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−$540.543% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 7 days−0.118%−$12 · spread now +0.161%, 7d avg +0.024%

Together, before fees+0.084%+ Points / potential airdropedgeX: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.136% dearer against edgeX than usual: you sell high and buy low (spread +0.161% now, against its 7-day average of +0.024%): +$14 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 7 days funding on this pair paid +0.202%, so the current rate has only just turned against you. The two prices were read 112 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 0.202% in total (about 10.5% 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	edgeX MSTRUSDC	162.73	0.0743	pay 0.0371% / 4h	1h 29m	$45K	$5.4M	10x
Short	Gate MSTR_USDT	162.99	0	get 0.0000% / 8h	1h 29m	$4.7M	$19.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.161%Rate

Funding earned: −$155.93
Price spread: +0.161% → +0.024%: $13.62
Slippage, 4 orders: −$30.28
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$196.59
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	5.53 bp	10.6 bp −$11	18.5 bp −$185	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.53 bp	17.3 bp −$17	32.8 bp −$328	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
Bitget MSTRUSDT	−0.0949%	8h	163.17	+0.271%	$28.7M	$118.6M	25x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	162.99	+0.161%	$4.7M	$19.6M	50x
Phemex MSTRUSDT	0.0000%	4h	162.91	+0.111%	$2.7M	$78K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.72	−0.005%	$508K	$2.0M	10x	as long as short
Aster MSTRUSDT	+0.0033%	8h	162.89	+0.099%	$1.8M	$8.7M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.063%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.84	+0.068%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.49	−0.147%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.79	+0.038%	$377K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.85	+0.075%	$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	162.57	−0.098%	$849K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.85	+0.075%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.95	+0.136%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.82	+0.056%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.59	−0.085%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.87	+0.087%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.88	+0.094%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0149%	8h	162.99	+0.161%	$20.7M	$100.2M	50x	as long as short
Variational Omni MSTR	+0.0151%	8h	162.75	+0.011%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.743%	$1.4M	$1.1M	10x	as long as short
Lighter MSTR	+0.0160%	1h	162.93	+0.124%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0162%	8h	162.86	+0.082%	$65	—	5x	as long as short
Binance MSTRUSDT	+0.0230%	8h	162.92	+0.119%	$83.8M	$627.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0243%	8h	162.88	+0.093%	$83K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0281%	1h	162.85	+0.075%	$54.0M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.69	−0.026%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0350%	8h	162.76	+0.019%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0351%	1h	162.71	−0.012%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.89	+0.099%	$264K	$428K	10x	as long as short
Bybit MSTRUSDT	+0.0382%	8h	162.96	+0.142%	$16.8M	$41.8M	50x	as long as short
edgeX MSTRUSDClong	+0.0743%	4h	162.73	long leg	$45K	$5.4M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0979%	1h	162.89	+0.099%	$277K	$437K	10x	as long as short