Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.001%

Price spread now: Bitget against Aevo+0.010%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Bitget

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSTR-PERP	168.84	0.0104	pay 0.0013% / 1h	24m 18s	$140	—	10x
Short	Bitget MSTRUSDT	168.86	0.0046	get 0.0046% / 8h	24m 18s	$28.7M	$119.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$12.18
Price spread: +0.010% → 0.000%: $1.04
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$39.14
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bitget: live order book, 5 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 Aevo no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.30 bp	7.2 bp −$7	11.1 bp −$111	32.9 bp −$3,293	doesn't fit

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 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	−0.0019%	1h	168.90	+0.034%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.96	+0.069%	$1.2M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.83	−0.007%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.01	+0.097%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.05	+0.123%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	168.92	+0.046%	$275K	$441K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0010%	8h	168.80	−0.025%	$22.0M	$106.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.88	+0.022%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.85	+0.004%	$583K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.03	+0.111%	—	$2.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDTshort	+0.0046%	8h	168.86	+0.010%	$28.7M	$119.9M	25x
GRVT MSTR_USDT_Perp	+0.0048%	8h	169.09	+0.149%	$77K	$879K	10x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.92	+0.046%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.85	+0.004%	$394K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.84	−0.001%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.76	−0.049%	$779K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0062%	8h	168.88	+0.025%	$88.9M	$628.5M	50x	as long as short
BloFin MSTR-USDT	+0.0064%	8h	168.97	+0.076%	$1.1M	$1.9M	20x	as long as short
Bybit MSTRUSDT	+0.0085%	8h	168.89	+0.028%	$15.1M	$40.4M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.055%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.89	+0.029%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.86	+0.010%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.94	+0.058%	$4K	$354K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.88	+0.022%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.21	+0.218%	$13K	$21K	30x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	168.84	long leg	$140	—	10x
Deribit MSTR_USDC-PERPETUAL	+0.0105%	1h	168.88	+0.022%	$287K	$438K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	168.89	+0.031%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0168%	1h	168.83	−0.007%	$57.0M	$37.1M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.01	+0.099%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0539%	4h	168.98	+0.084%	$47K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.01	+0.099%	$27K	$129K	10x	as long as short