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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0463%/8h= +50.7% APRpaid last 24h +0.133%
Price spread now: edgeX against Injective−3.350%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.044%+$4 on $10k
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. edgeX is 3.350% cheaper against Injective than usual: you would sell low and buy high (spread −3.350% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$335 on $10k: about 24 days of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.044% in total) that is about 18 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.044% in total (about 2.3% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective MSTR/USDC PERP169.340.0033pay 0.0004% / 1h49m 26s$8K$26K30x
ShortedgeX MSTRUSDC163.670.0496get 0.0248% / 4h2h 49m$48K$5.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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

Funding earned
$97.17
Price spread: −3.350% → 0.000%
−$335.01
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
−$246.86
Costs to cover
0.090%
Break-even
24.8 days
Slippage unknown: Injective: no order-book sample; edgeX: 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
LegHalf-spread$10k$100k$1M$5M
Buy Injective no order-book sample—————
Sell edgeX live order book, 5 min ago5.80 bp10.7 bp −$1117.5 bp −$175doesn't fitdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0973%8h163.93−3.195%$27.0M$117.0M25xas long as short
Aster MSTRUSDT0.0000%8h163.76−3.296%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.89−3.218%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.01−3.148%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.56−3.410%$596K$1.9M10xas long as short
Injective MSTR/USDC PERPlong+0.0033%1h169.34long leg$8K$26K30x
Arcus MSTR-USD+0.0040%1h163.85−3.242%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.48−3.460%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.69−3.336%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.77−3.289%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.71−3.325%$830K$3.9M10xas long as short
QFEX MSTR-USD+0.0054%1h163.71−3.325%$1.4M$7.2M10xas long as short
OKX MSTR-USDT-SWAP+0.0063%8h163.83−3.254%$20.6M$99.7M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.77−3.289%$266K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.74−3.306%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.66−3.354%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.69−3.336%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.74−3.307%$4K$8K10xas long as short
Variational Omni MSTR+0.0103%8h163.88−3.226%$1.2M$2.1M—as long as short
Aevo MSTR-PERP+0.0104%1h163.76−3.292%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0111%8h163.71−3.326%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0168%8h163.91−3.207%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−3.407%$1.4M$1.1M10xas long as short
Binance MSTRUSDT+0.0171%8h163.72−3.317%$85.7M$619.5M50xas long as short
Lighter MSTR+0.0224%1h163.72−3.319%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0287%8h163.93−3.195%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0333%8h163.84−3.248%$16.7M$41.2M50xas long as short
Nado MSTR-PERP+0.0342%1h163.60−3.387%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0349%1h163.72−3.319%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.90−3.212%$56K$226K10xas long as short
edgeX MSTRUSDCshort+0.0496%4h163.67−3.350%$48K$5.4M10x
Deribit MSTR_USDC-PERPETUAL+0.0973%1h163.74−3.307%$278K$438K10xas long as short