Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Orderly−0.008%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	164.86	0.0100	pay 0.0100% / 8h	6h 15m	$3K	$8K	10x
Short	Aevo MSTR-PERP	164.85	0.0104	get 0.0013% / 1h	15m 32s	$137	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.008%Rate

Funding earned: $0.84
Price spread: −0.008% → 0.000%: −$0.83
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$21.99
Costs to cover: 0.220%
Break-even: 190.3 days

Slippage unknown: Orderly: no order-book sample; Aevo: 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and Aevo: 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 31 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	−0.1079%	8h	164.96	+0.061%	$27.6M	$115.7M	25x	as long as short
Gate MSTR_USDT	−0.0182%	8h	164.80	−0.036%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.85	−0.007%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.81	−0.030%	$20.9M	$100.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.82	−0.021%	$270K	$447K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.91	+0.030%	$2.8M	$68K	10x	as long as short
Variational Omni MSTR	+0.0002%	8h	164.84	−0.009%	$1.2M	$2.1M	—	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.69	−0.100%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.86	0.000%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.83	−0.018%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.90	+0.024%	$910K	$4.5M	10x	as long as short
Lighter MSTR	+0.0064%	1h	164.73	−0.079%	$3.5M	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.83	−0.018%	$1.4M	$8.1M	10x	as long as short
SoDEX MSTR-USD	+0.0065%	1h	164.81	−0.030%	$43K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0071%	8h	164.81	−0.030%	$87.8M	$623.9M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0077%	1h	164.78	−0.049%	$385K	$2.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.77	−0.054%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.71	−0.091%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.53	−0.200%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	164.86	long leg	$3K	$8K	10x
Aevo MSTR-PERPshort	+0.0104%	1h	164.85	−0.008%	$137	—	10x
GRVT MSTR_USDT_Perp	+0.0154%	8h	164.68	−0.112%	$79K	$760K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.40	−0.279%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0172%	8h	164.75	−0.069%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0230%	1h	164.71	−0.091%	$55.2M	$36.9M	10x	as long as short
edgeX MSTRUSDC	+0.0315%	4h	164.58	−0.167%	$48K	$5.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.717%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0359%	1h	164.69	−0.103%	$122K	$150K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.92	+0.038%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0382%	8h	164.87	+0.006%	$17.1M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0660%	1h	164.93	+0.042%	$280K	$438K	10x	as long as short