Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.012%

Price spread now: edgeX against Aster+0.056%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Aster Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 7 days−0.135%−$13 · spread now +0.056%, 7d avg −0.003%

Together, before fees−0.247%+ Points / potential airdropAster: Stage 5 · edgeX: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and edgeX is 0.060% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.112%, 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 7 days it paid -0.112% in total (about -5.8% 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	Aster MSTRUSDT	169.30	0	get 0.0000% / 8h	1h 58m	$1.3M	$6.2M	50x
Short	edgeX MSTRUSDC	169.40	0.0220	get 0.0110% / 4h	1h 58m	$48K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aster. 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 AsterbpFee edgeXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $46.12
Price spread: +0.056% → −0.003%: $5.97
Slippage, 4 orders: −$22.22
Fee Aster: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $12.87
Costs to cover: 0.392%
Break-even: 5.0 days

Slippage from Aster: live order book, 5 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 Aster live order book, 5 min ago	1.48 bp	10.7 bp −$11	102.5 bp −$1,025	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	5.61 bp	10.6 bp −$11	17.1 bp −$171	doesn't fit	doesn't fit

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
BloFin MSTR-USDT	−0.0012%	8h	169.43	+0.074%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	169.30	long leg	$1.3M	$6.2M	50x
Binance MSTRUSDT	0.0000%	8h	169.32	+0.011%	$88.5M	$630.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.31	+0.003%	$22.1M	$107.3M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.30	0.000%	$277K	$445K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.26	−0.026%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.40	+0.056%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.43	+0.074%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.42	+0.068%	$2.9M	$59K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.27	−0.021%	$3.6M	$2.5M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	169.13	−0.100%	$587K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.18	−0.074%	$1.5M	$10.2M	10x	as long as short
Nado MSTR-PERP	+0.0043%	1h	169.20	−0.063%	$139K	$98K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.41	+0.062%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.28	−0.015%	$406K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.36	+0.033%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.19	−0.068%	$752K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	169.11	−0.115%	$1.5M	$1.2M	10x	as long as short
Bitget MSTRUSDT	+0.0062%	8h	169.32	+0.009%	$28.8M	$119.9M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0080%	8h	169.23	−0.046%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0080%	8h	169.30	−0.003%	$15.2M	$41.0M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.25	−0.032%	$103K	$121K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.17	−0.080%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.29	−0.009%	$4K	$835K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.35	+0.027%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.35	+0.024%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.46	+0.093%	$57K	$394K	10x	as long as short
edgeX MSTRUSDCshort	+0.0220%	4h	169.40	+0.056%	$48K	$5.4M	10x
Injective MSTR/USDC PERP	+0.0333%	1h	169.61	+0.180%	$13K	$22K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0341%	1h	169.31	+0.003%	$56.9M	$38.4M	10x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.38	+0.044%	$27K	$134K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0577%	1h	169.36	+0.033%	$288K	$439K	10x	as long as short