Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0315%/8h= +34.5% APRpaid last 24h −0.001%

Price spread now: SoDEX against Gate−0.122%7-day average — · you buy dearer than you sell

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

Long on Gate Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.122% cheaper against Gate than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 31 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	164.01	−0.0265	get 0.0265% / 8h	6h 38m	$4.6M	$18.9M	50x
Short	SoDEX MSTR-USD	163.81	0.0050	get 0.0006% / 1h	38m 38s	$43K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.122%Rate

Funding earned: $66.15
Price spread: −0.122% → 0.000%: −$12.19
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $30.96
Costs to cover: 0.230%
Break-even: 3.7 days

Slippage unknown: Gate: live order book, 5 min ago; SoDEX: 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	1.21 bp	21.5 bp −$22	40.7 bp −$407	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Bitget MSTRUSDT	−0.0760%	8h	164.24	+0.140%	$27.0M	$116.0M	25x	as long as short
Gate MSTR_USDTlong	−0.0265%	8h	164.01	long leg	$4.6M	$18.9M	50x
Aster MSTRUSDT	0.0000%	8h	164.08	+0.045%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.08	+0.043%	$20.8M	$100.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.07	+0.037%	$269K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.35	+0.207%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.41	+0.245%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.22	+0.128%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.939%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0017%	8h	164.06	+0.030%	$87.1M	$626.8M	50x	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	163.88	−0.082%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.31	+0.183%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.71	−0.183%	—	$1.8M	25x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	163.81	−0.122%	$43K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.86	−0.091%	$884K	$4.8M	10x	as long as short
edgeX MSTRUSDC	+0.0056%	4h	165.04	+0.627%	$47K	$5.4M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.10	+0.055%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.10	+0.057%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.98	−0.018%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.64	+0.384%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.09	+0.049%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.08	+0.044%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0127%	1h	163.82	−0.116%	$382K	$2.7M	10x	as long as short
Lighter MSTR	+0.0144%	1h	164.00	−0.006%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0164%	8h	164.02	+0.007%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.67	+0.402%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.250%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0362%	1h	164.02	+0.006%	$55.2M	$36.3M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	164.58	+0.349%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0415%	1h	163.68	−0.202%	$111K	$142K	3x	as long as short
Bybit MSTRUSDT	+0.0426%	8h	164.13	+0.073%	$17.2M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1274%	1h	164.24	+0.140%	$279K	$438K	10x	as long as short