Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.051%

Price spread now: Gate against Nado+0.041%50s7-day average +0.006% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.514% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.283%+$28 on $10k

Price spread, last 3 days (all we have)−0.291%−$29 · spread now +0.041%, 7d avg +0.006%

Together, before fees−0.008%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.035% dearer against Nado than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.006%. The two prices were read 50 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	Nado MSTR-PERP	169.09	−0.0100	get 0.0012% / 1h	44m 36s	$139K	$97K	3x
Short	Gate MSTR_USDT	169.16	0	get 0.0000% / 8h	1h 44m	$4.8M	$19.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now +0.041%Rate

Funding earned: $20.95
Price spread: +0.041% → +0.006%: $3.53
Slippage, 4 orders: −$29.37
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$26.89
Costs to cover: 0.514%
Break-even: 16.0 days

Slippage from Nado: live order book, 38 min ago; Gate: live order book, 4 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 Nado live order book, 38 min ago	5.90 bp	12.6 bp −$13	68.5 bp −$685	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.89 bp	13.5 bp −$13	49.6 bp −$496	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
Nado MSTR-PERPlong	−0.0100%	1h	169.09	long leg	$139K	$97K	3x
BloFin MSTR-USDT	−0.0012%	8h	169.16	+0.041%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.17	+0.050%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.18	+0.053%	$88.4M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.15	+0.035%	$22.1M	$106.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.19	+0.061%	$275K	$446K	10x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	169.16	+0.041%	$4.8M	$19.3M	50x
Variational Omni MSTR	0.0000%	8h	169.03	−0.036%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.10	+0.006%	$74K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.16	+0.041%	$2.9M	$60K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.12	+0.018%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.07	−0.011%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.17	+0.047%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.20	+0.065%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0047%	8h	169.20	+0.065%	$28.8M	$119.6M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.11	+0.012%	$401K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.12	+0.018%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.93	−0.095%	$752K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.095%	$1.5M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0077%	8h	169.13	+0.022%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0077%	8h	169.18	+0.053%	$15.2M	$40.8M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0088%	1h	169.12	+0.018%	$57.0M	$38.0M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.14	+0.031%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.03	−0.035%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.07	−0.012%	$4K	$632K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.19	+0.059%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.15	+0.036%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	−0.054%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.25	+0.095%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.21	+0.071%	$27K	$134K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0519%	1h	169.23	+0.083%	$288K	$439K	10x	as long as short
edgeX MSTRUSDC	+0.0964%	4h	169.04	−0.027%	$48K	$5.4M	10x	as long as short