Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.079%

Price spread now: Gate against Aevo−0.019%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Gate

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: −$3 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	168.78	0.0104	pay 0.0013% / 1h	21m 08s	$140	—	10x
Short	Gate MSTR_USDT	168.75	0	get 0.0000% / 8h	21m 08s	$4.7M	$19.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.019%Rate

Funding earned: −$21.84
Price spread: −0.019% → 0.000%: −$1.94
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$54.78
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	1.48 bp	11.3 bp −$11	30.3 bp −$303	doesn't fit	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	−0.0031%	1h	168.77	−0.007%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.84	+0.032%	$1.2M	$6.1M	50x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	168.75	−0.019%	$4.7M	$19.5M	50x
Variational Omni MSTR	0.0000%	8h	168.80	+0.012%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.04	+0.152%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	168.80	+0.010%	$275K	$441K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0006%	8h	168.77	−0.008%	$21.9M	$106.1M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.80	+0.010%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.74	−0.025%	$583K	$1.8M	10x	as long as short
BloFin MSTR-USDT	+0.0036%	8h	168.82	+0.022%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0042%	8h	168.82	+0.022%	$28.7M	$120.0M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0043%	8h	168.83	+0.028%	$77K	$871K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.89	+0.064%	—	$2.1M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.82	+0.022%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.79	+0.004%	$394K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.74	−0.025%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.65	−0.079%	$772K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0057%	8h	168.81	+0.018%	$89.1M	$629.1M	50x	as long as short
Bybit MSTRUSDT	+0.0079%	8h	168.82	+0.022%	$15.1M	$40.4M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.019%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.77	−0.006%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.79	+0.004%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.77	−0.008%	$4K	$321K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.81	+0.016%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.21	+0.253%	$13K	$21K	30x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	168.78	long leg	$140	—	10x
Paradex MSTR-USD-PERP	+0.0113%	8h	168.79	+0.005%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0154%	1h	168.74	−0.025%	$57.0M	$37.2M	10x	as long as short
edgeX MSTRUSDC	+0.0231%	4h	168.79	+0.007%	$47K	$5.5M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	168.92	+0.080%	$56K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0283%	1h	168.89	+0.064%	$287K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	168.89	+0.064%	$27K	$129K	10x	as long as short