Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1155%/8h= +126.4% APRpaid last 24h +0.028%

Price spread now: tradeXYZ against Bitget−0.178%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 7 days+0.088%+$9 · spread now −0.178%, 7d avg −0.082%

Together, before fees+0.264%+ Points / potential airdroptradeXYZ: Active · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.096% cheaper against Bitget than usual: you would sell low and buy high (spread −0.178% now, against its 7-day average of −0.082%). If the spread goes back, that is −$10 on $10k: about 7 hours of funding at the current rate (+$35 a day). At the pace of the last 7 days (+0.176% in total) that is about 3.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.176% in total (about 9.2% 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	Bitget MSTRUSDT	162.78	−0.0914	get 0.0914% / 8h	1h 39m	$28.6M	$119.0M	25x
Short	tradeXYZ xyz:MSTR	162.49	0.0241	get 0.0030% / 1h	39m 33s	$53.9M	$37.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.178%Rate

Funding earned: $242.5
Price spread: −0.178% → −0.082%: −$9.6
Slippage, 4 orders: −$6.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $196.19
Costs to cover: 0.367%
Break-even: 1.3 days

Slippage from Bitget: live order book, 5 min ago; tradeXYZ: live order book, 10 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	0.31 bp	9.1 bp −$9	14.3 bp −$143	36.6 bp −$3,657	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.31 bp	9.3 bp −$9	12.5 bp −$125	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
Bitget MSTRUSDTlong	−0.0914%	8h	162.78	long leg	$28.6M	$119.0M	25x
Gate MSTR_USDT	0.0000%	8h	162.63	−0.092%	$4.7M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.26	+0.295%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0025%	8h	162.52	−0.160%	$1.7M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.38	−0.243%	$506K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.030%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.86	+0.049%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.26	−0.319%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.49	−0.178%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.64	−0.086%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.54	−0.147%	$854K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.54	−0.147%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.55	−0.141%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.51	−0.166%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.65	−0.080%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.66	−0.074%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.65	−0.083%	$135	—	10x	as long as short
Lighter MSTR	+0.0120%	1h	162.51	−0.166%	$3.5M	$2.0M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0134%	8h	162.60	−0.111%	$20.7M	$100.1M	50x	as long as short
Variational Omni MSTR	+0.0144%	8h	162.76	−0.014%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0148%	8h	162.51	−0.167%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.774%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0224%	8h	162.51	−0.164%	$83.5M	$628.3M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0235%	8h	162.80	+0.015%	$78K	$867K	10x	as long as short
tradeXYZ xyz:MSTRshort	+0.0241%	1h	162.49	−0.178%	$53.9M	$37.3M	10x
Phoenix MSTR	+0.0328%	1h	162.77	−0.006%	$55K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0333%	1h	162.42	−0.222%	$130K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0344%	8h	162.75	−0.018%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0379%	8h	162.59	−0.117%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.60	−0.112%	$261K	$436K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0673%	1h	162.67	−0.068%	$277K	$437K	10x	as long as short
edgeX MSTRUSDC	+0.0728%	4h	162.81	+0.021%	$46K	$5.4M	10x	as long as short