Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0263%/8h= +28.9% APRpaid last 24h −0.047%

Price spread now: Gate against Injective+0.835%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 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 +$8 a day on $10k at the current rate, and Gate is 0.835% dearer against Injective than usual: you sell high and buy low: +$84 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSTR/USDC PERP	165.22	−0.0263	get 0.0033% / 1h	57m 07s	$7K	$28K	30x
Short	Gate MSTR_USDT	166.60	0	get 0.0000% / 8h	5h 57m	$5.0M	$17.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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

Position, each leg$Hold fordaysFee InjectivebpFee GatebpOrdersPrice spread, now +0.835%Rate

Funding earned: $55.33
Price spread: +0.835% → 0.000%: $83.52
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $123.84
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	3.91 bp	14.9 bp −$15	30.0 bp −$300	doesn't fit	doesn'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 exchanges

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
Injective MSTR/USDC PERPlong	−0.0263%	1h	165.22	long leg	$7K	$28K	30x
Gate MSTR_USDTshort	0.0000%	8h	166.60	+0.835%	$5.0M	$17.5M	50x
Bitget MSTRUSDT	0.0000%	8h	166.60	+0.835%	$32.1M	$106.4M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.52	+0.787%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.53	+0.793%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.39	+0.709%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.76	+0.932%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.47	+0.757%	$1.3M	$6.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.46	+0.751%	$384K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.53	+0.793%	$44K	$3K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.26	+0.629%	$874K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	+0.339%	$1.4M	$390K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.46	+0.749%	$102K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.35	+0.684%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.15	+0.563%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.55	+0.805%	$3K	$10K	10x	as long as short
Nado MSTR-PERP	+0.0102%	1h	166.49	+0.769%	$128K	$133K	3x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.55	+0.803%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0117%	8h	166.49	+0.766%	$67	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0207%	1h	166.50	+0.775%	$55.0M	$34.5M	10x	as long as short
Aster MSTRUSDT	+0.0250%	8h	166.52	+0.787%	$1.8M	$7.0M	50x	as long as short
Bybit MSTRUSDT	+0.0250%	8h	166.59	+0.829%	$17.2M	$38.2M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0289%	8h	166.60	+0.835%	$21.6M	$84.5M	50x	as long as short
Variational Omni MSTR	+0.0329%	8h	166.18	+0.582%	$1.2M	$1.6M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.40	+0.717%	$56K	$213K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0411%	1h	166.52	+0.787%	$283K	$209K	10x	as long as short
Binance MSTRUSDT	+0.0434%	8h	166.53	+0.795%	$87.2M	$541.6M	50x	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.47	+0.760%	$275K	$353K	10x	as long as short
edgeX MSTRUSDC	+0.0452%	4h	166.18	+0.579%	$48K	$5.0M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0553%	8h	166.44	+0.737%	$85K	$863K	10x	as long as short
BloFin MSTR-USDT	+0.0565%	8h	166.54	+0.799%	$1.1M	$2.0M	20x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.59	+0.829%	$26K	$71K	10x	as long as short