Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.133%

Price spread now: OKX against edgeX−0.131%91s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as 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−$340.342% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.192%+$19 · spread now −0.131%, 7d avg +0.018%

Together, before fees+0.221%+ Points / potential airdropedgeX: Active · farm board+$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.150% cheaper against edgeX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	164.50	0.0038	pay 0.0019% / 4h	3h 44m	$49K	$5.3M	10x
Short	OKX MSTR-USDT-SWAP	164.28	0.0036	get 0.0036% / 8h	3h 44m	$20.7M	$99.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$0.61
Price spread: −0.131% → +0.018%: −$14.96
Slippage, 4 orders: −$15.22
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$49.79
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	5.47 bp	10.4 bp −$10	17.0 bp −$170	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.30 bp	5.8 bp −$6	11.0 bp −$110	63.2 bp −$6,321	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	−0.0882%	8h	164.42	−0.046%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.29	−0.123%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.34	−0.095%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.26	−0.144%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.09	−0.247%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.945%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAPshort	+0.0036%	8h	164.28	−0.131%	$20.7M	$99.5M	50x
edgeX MSTRUSDClong	+0.0038%	4h	164.50	long leg	$49K	$5.3M	10x
Arcus MSTR-USD	+0.0040%	1h	164.48	−0.010%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.15	−0.210%	—	$1.7M	25x	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	164.24	−0.156%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.24	−0.156%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.27	−0.137%	$855K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.27	−0.137%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.23	−0.162%	$3.5M	$1.9M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.22	−0.170%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.24	−0.156%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.39	−0.064%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.24	−0.156%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	−0.030%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.27	−0.137%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.21	−0.172%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0160%	8h	164.27	−0.137%	$86.8M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.21	−0.174%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	−0.059%	$75K	$803K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.32	−0.104%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0244%	1h	164.21	−0.174%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	164.13	−0.225%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0281%	8h	164.36	−0.083%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0335%	8h	164.27	−0.137%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.022%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0847%	1h	164.29	−0.125%	$279K	$438K	10x	as long as short