Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h −0.037%

Price spread now: Phemex against Gate+0.342%7-day average +0.027% · you sell dearer than you buy

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

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.441%−$44 on $10k

Price spread, last 3 days (all we have)−0.389%−$39 · spread now +0.342%, 7d avg +0.027%

Together, before fees−0.829%−$83 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phemex is 0.315% dearer against Gate than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.441%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSTR_USDT	166.70	−0.0204	get 0.0204% / 8h	7h 03m	$4.7M	$19.2M	50x
Short	Phemex MSTRUSDT	167.27	0	get 0.0000% / 4h	3h 03m	$2.8M	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.342%Rate

Funding earned: $42.84
Price spread: +0.342% → +0.027%: $31.49
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: $47.33
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Gate: live order book, 5 min ago; Phemex: live order book, 5 min ago. 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, 5 min ago	2.99 bp	12.5 bp −$12	44.6 bp −$446	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.09 bp	doesn't fit	doesn't fit	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
Gate MSTR_USDTlong	−0.0204%	8h	166.70	long leg	$4.7M	$19.2M	50x
BloFin MSTR-USDT	−0.0023%	8h	166.80	+0.060%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	166.77	+0.040%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.56	−0.084%	$87.5M	$614.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.50	−0.120%	$21.4M	$99.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.75	+0.030%	$27.6M	$113.8M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	166.78	+0.050%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	167.28	+0.351%	$84K	$812K	10x	as long as short
Phemex MSTRUSDTshort	0.0000%	4h	167.27	+0.342%	$2.8M	$67K	10x
Lighter MSTR	+0.0032%	1h	166.47	−0.138%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	166.47	−0.138%	$575K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	167.02	+0.192%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	167.01	+0.186%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.81	+0.066%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.99	+0.174%	$392K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.88	+0.108%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.49	−0.126%	$773K	$4.8M	10x	as long as short
Nado MSTR-PERP	+0.0051%	1h	166.86	+0.095%	$135K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	166.69	−0.006%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.58	−0.074%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.59	−0.066%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	167.13	+0.258%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.96	+0.156%	$3K	$7K	10x	as long as short
Paradex MSTR-USD-PERP	+0.0104%	8h	166.41	−0.176%	$67	—	5x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.92	+0.133%	$139	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+1.584%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0239%	1h	166.45	−0.150%	$56.3M	$35.9M	10x	as long as short
Bybit MSTRUSDT	+0.0258%	8h	166.56	−0.084%	$16.7M	$40.2M	50x	as long as short
Phoenix MSTR	+0.0259%	1h	166.74	+0.023%	$56K	$384K	10x	as long as short
edgeX MSTRUSDC	+0.0334%	4h	166.79	+0.057%	$43K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	167.03	+0.199%	$271K	$434K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0829%	1h	167.03	+0.198%	$284K	$438K	10x	as long as short