Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0555%/8h= +60.8% APRpaid last 24h +0.014%

Price spread now: edgeX against Arcus−0.001%7-day average +0.038% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.785%+$79 · spread now −0.001%, 7d avg +0.038%

Together, before fees+0.690%+ Points / potential airdropedgeX: Active · farm board+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.039% cheaper against Arcus than usual: you would sell low and buy high (spread −0.001% now, against its 7-day average of +0.038%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$17 a day). Mind the row above: over the last 3 days funding on this pair cost −0.096%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.096% in total (about -10.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	164.80	0.0040	pay 0.0005% / 1h	19m 01s	$27K	$113K	10x
Short	edgeX MSTRUSDC	164.80	0.0596	get 0.0298% / 4h	2h 19m	$48K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Arcus. 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 ArcusbpFee edgeXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $116.64
Price spread: −0.001% → +0.038%: −$3.91
Slippage, 4 orders: −$34.45
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $64.78
Costs to cover: 0.480%
Break-even: 3.1 days

Slippage from Arcus: live order book, 49 min ago; edgeX: live order book, 5 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 Arcus live order book, 49 min ago	10.18 bp	13.2 bp −$13	43.6 bp −$436	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	4.24 bp	9.2 bp −$9	16.0 bp −$160	doesn't fit	doesn't fit

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	−0.1059%	8h	164.89	+0.055%	$27.5M	$115.6M	25x	as long as short
Gate MSTR_USDT	−0.0161%	8h	164.76	−0.024%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.63	−0.105%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.78	−0.012%	$20.9M	$100.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.61	−0.113%	$269K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.70	−0.058%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.72	−0.049%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.44	−0.221%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	164.80	long leg	$27K	$113K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	164.53	−0.164%	—	$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	164.37	−0.261%	$910K	$4.6M	10x	as long as short
SoDEX MSTR-USD	+0.0052%	1h	164.57	−0.140%	$43K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0062%	8h	164.73	−0.042%	$87.8M	$623.8M	50x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.58	−0.133%	$1.4M	$8.2M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.55	−0.152%	$3.5M	$1.9M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0091%	1h	164.54	−0.158%	$384K	$2.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.58	−0.134%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.53	−0.164%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	−0.146%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.61	−0.115%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.60	−0.121%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	165.00	+0.121%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.40	−0.243%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0173%	8h	164.54	−0.160%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0244%	1h	164.61	−0.115%	$55.2M	$36.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.755%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0367%	1h	164.43	−0.222%	$111K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.70	−0.063%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0384%	8h	164.76	−0.024%	$17.1M	$41.1M	50x	as long as short
edgeX MSTRUSDCshort	+0.0596%	4h	164.80	−0.001%	$48K	$5.5M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0966%	1h	164.67	−0.079%	$280K	$438K	10x	as long as short