Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0417%/8h= +45.7% APRpaid last 24h −0.007%

Price spread now: Pacifica against Gate+0.126%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$550.545% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.126%, 7d avg −0.015%

Together, before fees−0.355%+ Points / potential airdropPacifica: Active · farm board−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Pacifica is 0.140% dearer against Gate than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.149%, 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 7 days it paid -0.149% in total (about -7.8% 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	Gate MSTR_USDT	165.11	−0.0317	get 0.0317% / 8h	6h 46m	$4.6M	$18.7M	50x
Short	Pacifica MSTR	165.32	0.0100	get 0.0013% / 1h	46m 50s	$102K	$85K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.126%Rate

Funding earned: $87.57
Price spread: +0.126% → −0.015%: $14.03
Slippage, 4 orders: −$31.54
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $47.06
Costs to cover: 0.545%
Break-even: 3.2 days

Slippage from Gate: live order book, 2 min ago; Pacifica: live order book, 21 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, 2 min ago	2.12 bp	19.0 bp −$19	50.1 bp −$501	doesn't fit	doesn't fit
Sell Pacifica live order book, 21 min ago	0.78 bp	10.7 bp −$11	doesn't fit	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	−0.0405%	8h	165.15	+0.024%	$27.2M	$115.6M	25x	as long as short
Gate MSTR_USDTlong	−0.0317%	8h	165.11	long leg	$4.6M	$18.7M	50x
Aster MSTRUSDT	0.0000%	8h	164.99	−0.070%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	165.07	−0.024%	$87.2M	$624.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.03	−0.048%	$21.1M	$100.4M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	165.28	+0.103%	$271K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	165.36	+0.151%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	165.55	+0.265%	$76K	$809K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.77	+0.400%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.266%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	164.84	−0.160%	$568K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.50	+0.236%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.96	−0.091%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	165.09	−0.012%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.35	+0.145%	$781K	$4.8M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	165.34	+0.139%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	165.32	+0.126%	$102K	$85K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	164.92	−0.115%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.35	+0.145%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.00	−0.067%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.00	−0.068%	$137	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0119%	1h	165.07	−0.024%	$386K	$2.7M	10x	as long as short
Lighter MSTR	+0.0136%	1h	164.98	−0.079%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0143%	8h	165.30	+0.114%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.21	+0.061%	$1.4M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0335%	1h	164.99	−0.073%	$55.7M	$36.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.562%	$8K	$26K	30x	as long as short
edgeX MSTRUSDC	+0.0361%	4h	165.49	+0.230%	$47K	$5.5M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	165.41	+0.183%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0392%	1h	164.96	−0.089%	$134K	$129K	3x	as long as short
Bybit MSTRUSDT	+0.0399%	8h	165.14	+0.018%	$17.2M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1145%	1h	165.08	−0.018%	$281K	$438K	10x	as long as short