Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.153%

Price spread now: Orderly against edgeX−0.074%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.074% cheaper against edgeX than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	163.88	0.0032	pay 0.0016% / 4h	2h 01m	$46K	$5.4M	10x
Short	Orderly PERP_MSTR_USDC_mythos	163.76	0.0100	get 0.0100% / 8h	2h 01m	$2K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.074%Rate

Funding earned: $14.23
Price spread: −0.074% → 0.000%: −$7.38
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$8.15
Costs to cover: 0.150%
Break-even: 11.0 days

Slippage unknown: edgeX: live order book, 3 min ago; Orderly: 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 edgeX live order book, 3 min ago	5.80 bp	10.7 bp −$11	17.7 bp −$177	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 MSTRUSDT	−0.0956%	8h	163.91	+0.018%	$28.6M	$119.2M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.81	−0.043%	$4.7M	$19.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.37	−0.312%	$2.8M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0015%	8h	163.66	−0.137%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.58	−0.181%	$511K	$2.0M	10x	as long as short
edgeX MSTRUSDClong	+0.0032%	4h	163.88	long leg	$46K	$5.4M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.331%	$8K	$26K	30x	as long as short
Vest MSTR-USD-PERP	+0.0040%	1h	163.76	−0.074%	—	$1.8M	25x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.95	+0.042%	$26K	$113K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.72	−0.098%	$378K	$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
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.64	−0.147%	$845K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	163.80	−0.049%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	163.85	−0.020%	$263K	$442K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.74	−0.084%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.72	−0.098%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.95	+0.042%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	163.76	−0.074%	$2K	$13K	10x
Aevo MSTR-PERP	+0.0104%	1h	163.75	−0.078%	$136	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0118%	8h	163.75	−0.080%	$20.8M	$101.0M	50x	as long as short
Lighter MSTR	+0.0120%	1h	163.71	−0.104%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0138%	8h	163.77	−0.065%	$66	—	5x	as long as short
Variational Omni MSTR	+0.0147%	8h	164.18	+0.180%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−1.441%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0214%	8h	163.75	−0.080%	$84.0M	$629.1M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0221%	1h	163.66	−0.135%	$54.3M	$37.5M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0230%	8h	163.93	+0.032%	$79K	$854K	10x	as long as short
Nado MSTR-PERP	+0.0329%	1h	163.74	−0.084%	$131K	$157K	3x	as long as short
SoDEX MSTR-USD	+0.0330%	1h	163.74	−0.086%	$43K	$3K	10x	as long as short
BloFin MSTR-USDT	+0.0334%	8h	163.74	−0.086%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0362%	1h	163.89	+0.007%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0370%	8h	163.82	−0.037%	$16.9M	$41.9M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0667%	1h	163.78	−0.062%	$279K	$438K	10x	as long as short