Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.085%

Price spread now: RISEx against Gate−0.192%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$480.478% of the position

Long on Gate Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.192%, 7d avg +0.021%

Together, before fees+0.268%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.213% cheaper against Gate than usual: you would sell low and buy high (spread −0.192% now, against its 7-day average of +0.021%). If the spread goes back, that is −$21 on $10k: about 2.5 days of funding at the current rate (+$9 a day). At the pace of the last 3 days (+0.076% in total) that is about 9.7 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.076% in total (about 8.0% 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	164.11	−0.0284	get 0.0284% / 8h	6h 39m	$4.6M	$18.9M	50x
Short	RISEx MSTR/USDC	163.79	0	get 0.0000% / 1h	39m 15s	$268K	$436K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.192%Rate

Funding earned: $59.64
Price spread: −0.192% → +0.021%: −$21.34
Slippage, 4 orders: −$26.84
Fee Gate: 7.5 bp × 2 orders: −$15
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$9.54
Costs to cover: 0.478%
Break-even: 8.1 days

Slippage from Gate: live order book, 5 min ago; RISEx: live order book, 29 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 Gate live order book, 5 min ago	1.21 bp	21.5 bp −$22	40.7 bp −$407	doesn't fit	doesn't fit
Sell RISEx live order book, 29 min ago	1.50 bp	4.5 bp −$4	6.8 bp −$68	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	−0.0715%	8h	164.28	+0.104%	$27.0M	$116.0M	25x	as long as short
Gate MSTR_USDTlong	−0.0284%	8h	164.11	long leg	$4.6M	$18.9M	50x
Aster MSTRUSDT	0.0000%	8h	163.99	−0.075%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.17	+0.037%	$20.8M	$100.9M	50x	as long as short
RISEx MSTR/USDCshort	0.0000%	1h	163.79	−0.192%	$268K	$436K	10x
Variational Omni MSTR	0.0000%	8h	164.35	+0.146%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.41	+0.184%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.22	+0.067%	$2.8M	$67K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.877%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0013%	8h	164.20	+0.055%	$86.8M	$626.7M	50x	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	163.94	−0.107%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.41	+0.183%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.71	−0.244%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.81	−0.183%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.69	−0.256%	$884K	$4.8M	10x	as long as short
edgeX MSTRUSDC	+0.0056%	4h	165.04	+0.566%	$47K	$5.4M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	163.86	−0.152%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.82	−0.175%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.06	−0.030%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.64	+0.323%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.09	−0.012%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.08	−0.017%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0127%	1h	163.82	−0.177%	$382K	$2.7M	10x	as long as short
Lighter MSTR	+0.0144%	1h	164.11	0.000%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0164%	8h	163.81	−0.185%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.67	+0.341%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.187%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0366%	1h	164.09	−0.012%	$55.2M	$36.3M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	164.58	+0.288%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0415%	1h	163.68	−0.263%	$111K	$142K	3x	as long as short
Bybit MSTRUSDT	+0.0425%	8h	164.23	+0.073%	$17.2M	$41.3M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1274%	1h	164.24	+0.079%	$279K	$438K	10x	as long as short