Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.2% APRpaid last 24h −0.160%

Price spread now: Coinbase International against edgeX+0.110%77s7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.411% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.110%, 7d avg −0.076%

Together, before fees−0.034%+ Points / potential airdropedgeX: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.187% dearer against edgeX than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of −0.076%): +$19 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days. Mind the row above: over the last 7 days funding on this pair paid +0.152%, so the current rate has only just turned against you. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	164.28	0.0198	pay 0.0099% / 4h	3h 46m	$49K	$5.3M	10x
Short	Coinbase International MSTR-PERP-INTX	164.46	0.0168	get 0.0021% / 1h	46m 04s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$6.22
Price spread: +0.110% → −0.076%: $18.68
Slippage, 4 orders: −$22.12
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$28.67
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Coinbase International: live order book, 2 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 edgeX live order book, 3 min ago	5.47 bp	10.4 bp −$10	17.0 bp −$170	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.56 bp	10.2 bp −$10	14.4 bp −$144	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 MSTRUSDT	−0.0882%	8h	164.62	+0.208%	$27.9M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.49	+0.130%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.52	+0.147%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.49	+0.129%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.29	+0.010%	$593K	$1.9M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0033%	8h	164.50	+0.135%	$20.7M	$99.6M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.081%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.53	+0.153%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.31	+0.019%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.40	+0.074%	$380K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	164.45	+0.104%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.26	−0.011%	$855K	$4.0M	10x	as long as short
Lighter MSTR	+0.0056%	1h	164.43	+0.092%	$3.5M	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.43	+0.092%	$1.4M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.36	+0.051%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.38	+0.062%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.24	−0.023%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.46	+0.110%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	+0.102%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.46	+0.111%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0139%	8h	164.35	+0.044%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0161%	8h	164.47	+0.117%	$86.9M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0168%	1h	164.46	+0.110%	$1.4M	$1.1M	10x
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	+0.074%	$75K	$803K	10x	as long as short
edgeX MSTRUSDClong	+0.0198%	4h	164.28	long leg	$49K	$5.3M	10x
RISEx MSTR/USDC	+0.0231%	1h	164.44	+0.095%	$267K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0245%	1h	164.39	+0.068%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0246%	1h	164.27	−0.006%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0282%	8h	164.38	+0.062%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.48	+0.123%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.38	+0.061%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0845%	1h	164.51	+0.141%	$280K	$438K	10x	as long as short