Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h +0.020%

Price spread now: Gate against Extended+0.058%7-day average +0.100% · 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−$44as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.058%, 7d avg +0.100%

Together, before fees+0.148%+ Points / potential airdropExtended: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.043% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.100%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.140%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSTR_24_5-USD	164.38	0.0032	pay 0.0004% / 1h	20m 20s	$594K	$1.9M	10x
Short	Gate MSTR_USDT	164.47	−0.0009	pay 0.0009% / 8h	4h 20m	$4.6M	$18.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.058%Rate

Funding earned: −$8.61
Price spread: +0.058% → +0.100%: −$4.27
Slippage, 4 orders: −$19.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.59
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Gate: live order book, 3 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 Extended live order book, 3 min ago	1.52 bp	4.7 bp −$5	19.9 bp −$199	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.52 bp	16.5 bp −$16	42.1 bp −$421	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	−0.0937%	8h	164.64	+0.161%	$27.8M	$115.0M	25x	as long as short
Gate MSTR_USDTshort	−0.0009%	8h	164.47	+0.058%	$4.6M	$18.7M	50x
Aster MSTRUSDT	0.0000%	8h	164.54	+0.101%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.41	+0.021%	$2.8M	$73K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0004%	8h	164.52	+0.088%	$20.6M	$99.5M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.47	+0.058%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	164.38	long leg	$594K	$1.9M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.021%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.57	+0.116%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.58	+0.125%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.38	+0.003%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.40	+0.015%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.47	+0.058%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.48	+0.064%	$852K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.54	+0.100%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0075%	8h	164.40	+0.018%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.53	+0.097%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.37	−0.003%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.40	+0.015%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.43	+0.033%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.45	+0.045%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0134%	8h	164.47	+0.061%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0135%	8h	164.46	+0.049%	$87.6M	$616.7M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0157%	8h	164.67	+0.181%	$77K	$772K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.155%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.52	+0.089%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0232%	1h	164.40	+0.015%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0239%	1h	164.40	+0.017%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0255%	8h	164.48	+0.064%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0358%	8h	164.51	+0.082%	$17.0M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0663%	1h	164.53	+0.094%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0824%	4h	164.54	+0.100%	$49K	$5.4M	10x	as long as short