Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0994%/8h= +108.8% APRpaid last 24h −0.021%

Price spread now: Vest against Bitget−0.231%7-day average −0.424% · you buy dearer than you sell

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

Long on Bitget Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 7 days+0.158%+$16 · spread now −0.231%, 7d avg −0.424%

Together, before fees+0.150%+ Points / potential airdropVest: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$30 a day on $10k at the current rate, and Vest is 0.192% dearer against Bitget than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.424%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.008% in total (about -0.9% 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	164.26	−0.0948	get 0.0948% / 8h	3h 20m	$27.3M	$116.4M	25x
Short	Vest MSTR-USD-PERP	163.88	0.0046	get 0.0006% / 1h	20m 04s	—	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.231%Rate

Funding earned: $208.67
Price spread: −0.231% → −0.424%: $19.22
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: $213.89
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Bitget: live order book, 4 min ago; Vest: no order-book sample. 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 Bitget live order book, 4 min ago	0.92 bp	8.8 bp −$9	15.4 bp −$154	23.8 bp −$2,381	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
Bitget MSTRUSDTlong	−0.0948%	8h	164.26	long leg	$27.3M	$116.4M	25x
Aster MSTRUSDT	0.0000%	8h	164.00	−0.157%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.10	−0.097%	$4.6M	$19.2M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.15	−0.067%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	164.02	−0.146%	$3.5M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.93	−0.201%	$588K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.093%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.00	−0.158%	$26K	$110K	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	163.88	−0.231%	—	$1.7M	25x
OKX MSTR-USDT-SWAP	+0.0046%	8h	164.08	−0.110%	$20.8M	$99.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.10	−0.097%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.09	−0.103%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.54	−0.438%	$846K	$3.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0065%	8h	164.13	−0.079%	$66	—	5x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.14	−0.073%	$1.4M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.07	−0.114%	$100K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.99	−0.164%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.77	−0.298%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.10	−0.097%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0102%	8h	164.03	−0.142%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.10	−0.097%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0164%	8h	164.07	−0.118%	$86.5M	$618.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.88	−0.231%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0171%	8h	164.00	−0.158%	$75K	$825K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.16	−0.062%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	163.90	−0.217%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0261%	1h	164.04	−0.134%	$54.6M	$37.1M	10x	as long as short
BloFin MSTR-USDT	+0.0285%	8h	164.10	−0.097%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0325%	8h	164.12	−0.085%	$16.6M	$41.1M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	163.95	−0.187%	$56K	$226K	10x	as long as short
edgeX MSTRUSDC	+0.0382%	4h	163.84	−0.259%	$49K	$5.3M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0665%	1h	164.17	−0.055%	$279K	$438K	10x	as long as short