Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0021%/8hpaid last 24h +0.046%

Price spread now: OKX against edgeX+0.353%81s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as 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−$380.377% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 7 days−0.317%−$32 · spread now +0.353%, 7d avg +0.019%

Together, before fees−0.066%+ Points / potential airdropedgeX: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.334% dearer against edgeX than usual: you sell high and buy low (spread +0.353% now, against its 7-day average of +0.019%): +$33 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 53 days. Mind the row above: over the last 7 days funding on this pair paid +0.251%, so the current rate has only just turned against you. The two prices were read 81 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	168.00	0.0114	pay 0.0057% / 4h	4m 16s	$45K	$5.3M	10x
Short	OKX MSTR-USDT-SWAP	168.59	0.0093	get 0.0093% / 8h	4h 04m	$22.3M	$105.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.353%Rate

Funding earned: −$4.43
Price spread: +0.353% → +0.019%: $33.35
Slippage, 4 orders: −$18.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$8.78
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	5.65 bp	10.8 bp −$11	18.0 bp −$180	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.89 bp	8.4 bp −$8	14.0 bp −$140	35.4 bp −$3,542	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	−0.0076%	1h	168.43	+0.258%	$139K	$157K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.48	+0.287%	$292K	$472K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.45	+0.269%	$4.8M	$19.3M	50x	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.03	+0.018%	$76K	$926K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.52	+0.311%	$2.9M	$50K	10x	as long as short
Variational Omni MSTR	+0.0004%	8h	168.00	+0.004%	$1.2M	$2.4M	—	as long as short
Lighter MSTR	+0.0032%	1h	168.59	+0.353%	$3.6M	$2.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.46	+0.275%	$578K	$2.0M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.37	+0.222%	—	$2.0M	25x	as long as short
QFEX MSTR-USD	+0.0047%	1h	168.43	+0.258%	$1.5M	$10.1M	10x	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	168.49	+0.293%	$418K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	167.72	−0.165%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.12	+0.073%	$783K	$4.8M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0062%	8h	168.38	+0.230%	$67	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0064%	1h	167.85	−0.088%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0074%	1h	168.43	+0.258%	$57.1M	$35.6M	10x	as long as short
Binance MSTRUSDT	+0.0085%	8h	168.59	+0.353%	$89.1M	$614.2M	50x	as long as short
Aster MSTRUSDT	+0.0089%	8h	168.56	+0.334%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAPshort	+0.0093%	8h	168.59	+0.353%	$22.3M	$105.6M	50x
Pacifica MSTR	+0.0100%	1h	168.35	+0.208%	$103K	$152K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.41	+0.246%	$2.6M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.92	−0.046%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.53	+0.317%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.39	+0.232%	$140	—	10x	as long as short
edgeX MSTRUSDClong	+0.0114%	4h	168.00	long leg	$45K	$5.3M	10x
Bitget MSTRUSDT	+0.0174%	8h	168.55	+0.329%	$28.9M	$115.7M	25x	as long as short
Injective MSTR/USDC PERP	+0.0177%	1h	168.83	+0.496%	$13K	$22K	30x	as long as short
BloFin MSTR-USDT	+0.0204%	8h	167.80	−0.117%	$1.1M	$1.6M	20x	as long as short
Phoenix MSTR	+0.0216%	1h	168.02	+0.015%	$54K	$386K	10x	as long as short
Bybit MSTRUSDT	+0.0250%	8h	168.62	+0.371%	$15.5M	$41.5M	50x	as long as short
Arcus MSTR-USD	+0.0493%	1h	168.55	+0.329%	$27K	$125K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0581%	1h	168.61	+0.365%	$286K	$438K	10x	as long as short