Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0931%/8h= −101.9% APRpaid last 24h +0.020%

Price spread now: Bitget against Polymarket Perps+0.085%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 7 days+0.018%+$2 · spread now +0.085%, 7d avg +0.087%

Together, before fees−0.098%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.087%, so right now this pair is about funding alone: −$28 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.1% 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	Polymarket Perps MSTR-USD	165.60	0.0050	pay 0.0006% / 1h	9m 19s	$383K	$2.7M	10x
Short	Bitget MSTRUSDT	165.74	−0.0881	pay 0.0881% / 8h	5h 09m	$27.8M	$114.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Polymarket Perps. 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 Polymarket PerpsbpFee BitgetbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$195.51
Price spread: +0.085% → +0.087%: −$0.21
Slippage, 4 orders: −$11.59
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$227.31
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Bitget: live order book, 5 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 Polymarket Perps live order book, 5 min ago	1.81 bp	9.1 bp −$9	10.1 bp −$101	12.1 bp −$1,214	doesn't fit
Sell Bitget live order book, 5 min ago	0.30 bp	8.8 bp −$9	12.0 bp −$120	32.6 bp −$3,264	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 MSTRUSDTshort	−0.0881%	8h	165.74	+0.085%	$27.8M	$114.7M	25x
Aster MSTRUSDT	0.0000%	8h	165.59	−0.005%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.75	+0.091%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.71	+0.066%	$2.8M	$73K	10x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.67	+0.042%	$20.8M	$100.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.58	−0.012%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.53	−0.042%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.258%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.69	+0.054%	$27K	$110K	10x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.63	+0.020%	$1.2M	$2.1M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.88	+0.169%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.60	0.000%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0050%	1h	165.60	long leg	$383K	$2.7M	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.50	−0.060%	$882K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.62	+0.012%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USD	+0.0078%	1h	165.63	+0.018%	$44K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.54	−0.039%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.61	+0.006%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.39	−0.127%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.67	+0.042%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.63	+0.019%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0111%	8h	165.70	+0.060%	$88.3M	$616.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0134%	8h	165.60	−0.001%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0166%	8h	165.80	+0.121%	$79K	$758K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	−0.054%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	165.52	−0.045%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0231%	8h	165.61	+0.006%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.70	+0.060%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.63	+0.018%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0342%	8h	165.76	+0.097%	$17.3M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0475%	1h	165.71	+0.066%	$282K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0485%	4h	165.62	+0.015%	$51K	$5.4M	10x	as long as short