Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.067%

Price spread now: Bitget against tradeXYZ+0.049%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 7 days+0.050%+$5 · spread now +0.049%, 7d avg +0.082%

Together, before fees−0.110%+ Points / potential airdroptradeXYZ: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.034% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSTR	164.82	0.0220	pay 0.0027% / 1h	54m 16s	$54.5M	$35.9M	10x
Short	Bitget MSTRUSDT	164.90	0	get 0.0000% / 8h	6h 54m	$31.4M	$113.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. 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 tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$46.19
Price spread: +0.049% → +0.082%: −$3.36
Slippage, 4 orders: −$8.27
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$87.82
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from tradeXYZ: 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 tradeXYZ live order book, 5 min ago	0.30 bp	9.3 bp −$9	11.5 bp −$115	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.60 bp	8.9 bp −$9	13.3 bp −$133	45.8 bp −$4,581	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
SoDEX MSTR-USD	−0.0082%	1h	164.85	+0.018%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	−0.0061%	1h	165.18	+0.218%	$923K	$3.5M	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.94	+0.073%	$4.9M	$17.9M	50x	as long as short
Bitget MSTRUSDTshort	0.0000%	8h	164.90	+0.049%	$31.4M	$113.2M	25x
Phemex MSTRUSDT	0.0000%	4h	165.04	+0.133%	$2.8M	$84K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.67	−0.090%	$512K	$1.9M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.77	−0.030%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.76	−0.036%	$380K	$2.5M	10x	as long as short
QFEX MSTR-USD	+0.0076%	1h	164.82	0.000%	$1.3M	$6.8M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.86	+0.024%	$101K	$88K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MSTRUSDTM	+0.0100%	8h	164.89	+0.042%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.07	+0.758%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.99	+0.103%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.04	+0.136%	$137	—	10x	as long as short
Nado MSTR-PERP	+0.0111%	1h	164.64	−0.109%	$126K	$140K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	164.98	+0.097%	$1.4M	$643K	10x	as long as short
Lighter MSTR	+0.0120%	1h	165.08	+0.158%	$3.5M	$1.8M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0179%	8h	164.85	+0.016%	$66	—	5x	as long as short
Aster MSTRUSDT	+0.0181%	8h	165.10	+0.172%	$1.8M	$8.4M	50x	as long as short
tradeXYZ xyz:MSTRlong	+0.0220%	1h	164.82	long leg	$54.5M	$35.9M	10x
OKX MSTR-USDT-SWAP	+0.0270%	8h	165.23	+0.249%	$21.4M	$91.7M	50x	as long as short
Variational Omni MSTR	+0.0298%	8h	165.92	+0.669%	$1.2M	$1.8M	—	as long as short
Binance MSTRUSDT	+0.0364%	8h	165.14	+0.194%	$86.1M	$588.9M	50x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	162.61	−1.341%	$7K	$26K	30x	as long as short
Phoenix MSTR	+0.0460%	1h	166.22	+0.849%	$56K	$217K	10x	as long as short
Bybit MSTRUSDT	+0.0462%	8h	165.03	+0.127%	$16.9M	$40.4M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0479%	1h	164.81	−0.006%	$280K	$276K	10x	as long as short
BloFin MSTR-USDT	+0.0494%	8h	165.03	+0.127%	$1.1M	$2.1M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0590%	8h	166.34	+0.922%	$82K	$854K	10x	as long as short
RISEx MSTR/USDC	+0.0598%	1h	164.94	+0.070%	$269K	$382K	10x	as long as short
edgeX MSTRUSDC	+0.0686%	4h	166.14	+0.803%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0942%	1h	164.86	+0.024%	$26K	$102K	10x	as long as short