Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0824%/8h= +90.2% APRpaid last 24h +0.122%

Price spread now: Arcus against Gate−0.024%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.122%−$12 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now −0.024%, 7d avg +0.012%

Together, before fees−0.200%−$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.036% cheaper against Gate than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of +0.012%). If the spread goes back, that is −$4 on $10k: about 3 hours of funding at the current rate (+$25 a day). Mind the row above: over the last 4 days funding on this pair cost −0.122%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.122% in total (about -11.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	166.46	0	get 0.0000% / 8h	5h 51m	$4.9M	$17.6M	50x
Short	Arcus MSTR-USD	166.42	0.0824	get 0.0103% / 1h	51m 12s	$26K	$71K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now −0.024%Rate

Funding earned: $172.94
Price spread: −0.024% → +0.012%: −$3.6
Slippage, 4 orders: −$30.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $119.05
Costs to cover: 0.503%
Break-even: 2.2 days

Slippage from Gate: live order book, 6 min ago; Arcus: live order book, 59 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 Gate live order book, 6 min ago	3.00 bp	14.7 bp −$15	41.8 bp −$418	doesn't fit	doesn't fit
Sell Arcus live order book, 59 min ago	7.85 bp	10.1 bp −$10	32.2 bp −$322	doesn't fit	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.745%	$7K	$28K	30x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	166.46	long leg	$4.9M	$17.6M	50x
Bitget MSTRUSDT	0.0000%	8h	166.50	+0.024%	$32.0M	$105.8M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.34	−0.072%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.37	−0.054%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.25	−0.123%	$509K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.51	+0.030%	—	$1.7M	25x	as long as short
Nado MSTR-PERP	+0.0047%	1h	166.26	−0.118%	$127K	$127K	3x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.30	−0.096%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.30	−0.096%	$384K	$2.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	166.31	−0.090%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.25	−0.126%	$875K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.409%	$1.4M	$390K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.20	−0.156%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.33	−0.078%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.09	−0.222%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.36	−0.060%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.38	−0.049%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0112%	8h	166.23	−0.137%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0202%	1h	166.37	−0.054%	$55.0M	$34.4M	10x	as long as short
Bybit MSTRUSDT	+0.0220%	8h	166.45	−0.006%	$17.2M	$38.0M	50x	as long as short
Aster MSTRUSDT	+0.0269%	8h	166.38	−0.049%	$1.8M	$7.0M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0294%	8h	166.44	−0.012%	$21.6M	$84.0M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.49	+0.017%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0348%	8h	166.45	−0.004%	$1.2M	$1.6M	—	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0412%	1h	166.36	−0.060%	$283K	$209K	10x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.36	−0.062%	$274K	$353K	10x	as long as short
Binance MSTRUSDT	+0.0454%	8h	166.39	−0.042%	$87.3M	$538.3M	50x	as long as short
BloFin MSTR-USDT	+0.0586%	8h	166.42	−0.024%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0608%	8h	166.43	−0.017%	$87K	$855K	10x	as long as short
Arcus MSTR-USDshort	+0.0824%	1h	166.42	−0.024%	$26K	$71K	10x
edgeX MSTRUSDC	+0.0909%	4h	166.35	−0.067%	$48K	$4.9M	10x	as long as short