Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.005%

Price spread now: Polymarket Perps against Bitget+0.018%7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.018%, 7d avg −0.085%

Together, before fees+0.095%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.103% dearer against Bitget than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSTRUSDT	168.82	0.0046	pay 0.0046% / 8h	24m 03s	$28.7M	$119.9M	25x
Short	Polymarket Perps MSTR-USD	168.85	0.0050	get 0.0006% / 1h	24m 03s	$394K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bitget. 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 BitgetbpFee Polymarket PerpsbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0.84
Price spread: +0.018% → −0.085%: $10.28
Slippage, 4 orders: −$11.76
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$20.64
Costs to cover: 0.318%
Break-even: 179.0 days

Slippage from Bitget: live order book, 5 min ago; Polymarket Perps: 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 Bitget live order book, 5 min ago	0.30 bp	8.6 bp −$9	13.1 bp −$131	33.5 bp −$3,349	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	3.85 bp	8.1 bp −$8	9.8 bp −$98	12.0 bp −$1,203	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
Nado MSTR-PERP	−0.0019%	1h	168.90	+0.047%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.87	+0.029%	$1.2M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.79	−0.018%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.01	+0.110%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.05	+0.136%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	168.92	+0.059%	$275K	$441K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0010%	8h	168.75	−0.041%	$21.9M	$106.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.79	−0.018%	$3.6M	$2.4M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.85	+0.018%	$583K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.03	+0.124%	—	$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 MSTRUSDTlong	+0.0046%	8h	168.82	long leg	$28.7M	$119.9M	25x
GRVT MSTR_USDT_Perp	+0.0048%	8h	169.09	+0.162%	$77K	$879K	10x	as long as short
QFEX MSTR-USD	+0.0049%	1h	168.92	+0.059%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	168.85	+0.018%	$394K	$2.8M	10x
SoDEX MSTR-USD	+0.0050%	1h	168.84	+0.012%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.76	−0.036%	$779K	$5.2M	10x	as long as short
Binance MSTRUSDT	+0.0062%	8h	168.83	+0.006%	$88.9M	$628.8M	50x	as long as short
BloFin MSTR-USDT	+0.0064%	8h	168.97	+0.089%	$1.1M	$1.9M	20x	as long as short
Bybit MSTRUSDT	+0.0085%	8h	168.83	+0.006%	$15.1M	$40.4M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	168.75	−0.041%	$1.4M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.89	+0.043%	$104K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.78	−0.024%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.94	+0.071%	$4K	$354K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.88	+0.036%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.21	+0.231%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.84	+0.013%	$140	—	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0105%	1h	168.88	+0.036%	$287K	$438K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	168.89	+0.044%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0166%	1h	168.77	−0.030%	$57.0M	$37.1M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.01	+0.112%	$57K	$392K	10x	as long as short
edgeX MSTRUSDC	+0.0539%	4h	168.98	+0.097%	$47K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.01	+0.113%	$27K	$129K	10x	as long as short