Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h −0.050%

Price spread now: Injective against Gate+0.136%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.217%−$22 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Injective is 0.136% dearer against Gate than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.217%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.217% in total (about -11.3% 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	Gate MSTR_USDT	169.38	0	get 0.0000% / 8h	2h 02m	$4.8M	$19.7M	50x
Short	Injective MSTR/USDC PERP	169.61	0.0440	get 0.0055% / 1h	2m 59s	$13K	$22K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.136%Rate

Funding earned: $92.4
Price spread: +0.136% → 0.000%: $13.58
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $90.96
Costs to cover: 0.150%
Break-even: 0.1 days

Slippage unknown: Gate: live order book, 1 min ago; Injective: 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 Gate live order book, 1 min ago	3.54 bp	24.5 bp −$24	53.3 bp −$533	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Nado MSTR-PERP	−0.0074%	1h	169.36	−0.012%	$139K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0030%	8h	169.45	+0.041%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.39	+0.007%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.41	+0.020%	$88.5M	$630.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.44	+0.035%	$22.1M	$107.4M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.41	+0.021%	$277K	$446K	10x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	169.38	long leg	$4.8M	$19.7M	50x
Variational Omni MSTR	0.0000%	8h	169.39	+0.004%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.40	+0.012%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.46	+0.047%	$2.9M	$59K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.45	+0.041%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.24	−0.080%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.41	+0.018%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.49	+0.065%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.159%	$1.5M	$1.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.38	0.000%	$406K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.40	+0.012%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.25	−0.077%	$752K	$5.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0064%	1h	169.38	0.000%	$56.8M	$38.4M	10x	as long as short
Bitget MSTRUSDT	+0.0064%	8h	169.44	+0.035%	$28.9M	$120.1M	25x	as long as short
Bybit MSTRUSDT	+0.0082%	8h	169.39	+0.006%	$15.2M	$41.2M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0082%	8h	169.38	−0.001%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.35	−0.015%	$103K	$121K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.33	−0.030%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.35	−0.018%	$4K	$854K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.41	+0.018%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.40	+0.013%	$141	—	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0163%	1h	169.46	+0.047%	$288K	$439K	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.45	+0.039%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.51	+0.077%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERPshort	+0.0440%	1h	169.61	+0.136%	$13K	$22K	30x
edgeX MSTRUSDC	+0.0709%	4h	169.42	+0.025%	$48K	$5.4M	10x	as long as short