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: Gate against Ondo Perps+0.024%7-day average +0.103% · you sell dearer than you buy

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

Long on Ondo Perps Short on Gate

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+0.283%+$28 · spread now +0.024%, 7d avg +0.103%

Together, before fees+0.474%+ Points / potential airdropOndo Perps: Active · farm board+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.079% cheaper against Ondo Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.103%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.191%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MSTR-USD.P	168.84	0.0050	pay 0.0006% / 1h	50m 07s	$747K	$5.0M	10x
Short	Gate MSTR_USDT	168.88	0	get 0.0000% / 8h	7h 50m	$4.7M	$18.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Ondo Perps. 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 Ondo PerpsbpFee GatebpOrdersPrice spread, now +0.024%Rate

Funding earned: −$10.58
Price spread: +0.024% → +0.103%: −$7.9
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.48
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	2.66 bp	11.5 bp −$11	34.2 bp −$342	doesn't fit	doesn't fit

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	−0.0090%	1h	168.83	−0.007%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.99	+0.088%	$1.2M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	168.92	+0.047%	$15.2M	$39.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.85	+0.006%	$21.9M	$103.8M	50x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	168.88	+0.024%	$4.7M	$18.8M	50x
Bitget MSTRUSDT	0.0000%	8h	168.96	+0.071%	$28.6M	$115.2M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	+0.070%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.92	+0.047%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.82	−0.012%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.72	−0.071%	$579K	$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	+0.047%	$1.4M	$10.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.21	+0.219%	$27K	$119K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.06	+0.130%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.96	+0.071%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.85	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.Plong	+0.0050%	1h	168.84	long leg	$747K	$5.0M	10x
Binance MSTRUSDT	+0.0073%	8h	168.91	+0.039%	$89.2M	$621.3M	50x	as long as short
BloFin MSTR-USDT	+0.0075%	8h	168.87	+0.018%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.053%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0092%	8h	168.91	+0.042%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.94	+0.060%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.90	+0.036%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.05	+0.124%	$4K	$207K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.93	+0.053%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.35	+0.301%	$141	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0159%	1h	168.88	+0.024%	$57.0M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.296%	$8K	$26K	30x	as long as short
GRVT MSTR_USDT_Perp	+0.0256%	8h	169.19	+0.207%	$77K	$859K	10x	as long as short
Phoenix MSTR	+0.0259%	1h	169.17	+0.194%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.97	+0.080%	$275K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0465%	4h	169.30	+0.273%	$48K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0639%	1h	168.96	+0.071%	$287K	$438K	10x	as long as short