Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.022%

Price spread now: Ondo Perps against Gate−0.106%7-day average −0.104% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 7 days−0.328%−$33 · spread now −0.106%, 7d avg −0.104%

Together, before fees−0.518%+ Points / potential airdropOndo Perps: Active · farm board−$52 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.104%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.191%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	169.09	0	get 0.0000% / 8h	7h 48m	$4.7M	$18.8M	50x
Short	Ondo Perps MSTR-USD.P	168.91	0.0050	get 0.0006% / 1h	48m 47s	$747K	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.106%Rate

Funding earned: $10.58
Price spread: −0.106% → −0.104%: −$0.22
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$9.64
Costs to cover: 0.200%
Break-even: 13.4 days

Slippage unknown: Gate: live order book, 5 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 5 min ago	2.66 bp	22.2 bp −$22	41.3 bp −$413	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0096%	1h	168.86	−0.136%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.09	+0.002%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.15	+0.035%	$21.9M	$103.8M	50x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	169.09	long leg	$4.7M	$18.8M	50x
Bitget MSTRUSDT	0.0000%	8h	169.13	+0.024%	$28.6M	$115.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	−0.078%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.10	+0.006%	$2.9M	$66K	10x	as long as short
Bybit MSTRUSDT	+0.0008%	8h	169.16	+0.041%	$15.2M	$39.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	169.08	−0.006%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.99	−0.059%	$581K	$1.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0035%	1h	168.92	−0.101%	$1.4M	$10.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.15	+0.035%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.03	−0.035%	—	$2.0M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.95	−0.083%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.93	−0.095%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	168.91	−0.106%	$747K	$5.0M	10x
BloFin MSTR-USDT	+0.0063%	8h	169.09	0.000%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0070%	8h	169.14	+0.029%	$89.3M	$621.1M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.201%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	169.08	−0.008%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.07	−0.010%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.06	−0.018%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.89	−0.118%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.00	−0.053%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.10	+0.005%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0172%	1h	169.14	+0.030%	$57.1M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.148%	$8K	$26K	30x	as long as short
GRVT MSTR_USDT_Perp	+0.0256%	8h	169.19	+0.059%	$77K	$859K	10x	as long as short
Phoenix MSTR	+0.0259%	1h	169.17	+0.046%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.03	−0.036%	$275K	$440K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0460%	1h	169.04	−0.030%	$287K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0465%	4h	169.30	+0.125%	$48K	$5.5M	10x	as long as short