Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h +0.001%

Price spread now: Paradex against Aevo−0.184%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.184% cheaper against Aevo than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSTR-PERP	167.23	0.0104	pay 0.0013% / 1h	8m 40s	$139	$100	10x
Short	Paradex MSTR-USD-PERP	166.92	0.0079	get 0.0079% / 8h	4h 08m	$67	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Aevo. 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 AevobpFee ParadexbpOrdersPrice spread, now −0.184%Rate

Funding earned: −$5.27
Price spread: −0.184% → 0.000%: −$18.42
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$43.69
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Paradex: no order-book sample. 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 Aevo no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Aevo and Paradex: 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
Extended MSTR_24_5-USD	−0.0312%	1h	166.97	−0.157%	$1.4M	$2.8M	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	167.05	−0.106%	$4.8M	$17.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	167.17	−0.035%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.92	−0.184%	$3.6M	$1.7M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	165.22	−1.201%	$7K	$28K	30x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	167.40	+0.103%	—	$1.6M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	167.20	−0.017%	$386K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.99	−0.142%	$822K	$3.3M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	166.95	−0.166%	$1.3M	$5.5M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	166.14	−0.651%	$1.4M	$354K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex MSTR-USD-PERPshort	+0.0079%	8h	166.92	−0.184%	$67	—	5x
Nado MSTR-PERP	+0.0092%	1h	167.17	−0.035%	$145K	$135K	3x	as long as short
SoDEX MSTR-USD	+0.0094%	1h	167.13	−0.059%	$44K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.95	−0.164%	$103K	$66K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	167.06	−0.100%	$2.4M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.99	−0.142%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	167.22	−0.005%	$2K	$11K	10x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	167.23	long leg	$139	$100	10x
Bitget MSTRUSDT	+0.0106%	8h	167.06	−0.100%	$32.1M	$101.8M	25x	as long as short
Bybit MSTRUSDT	+0.0138%	8h	167.04	−0.112%	$16.0M	$38.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0171%	1h	166.93	−0.178%	$55.1M	$33.2M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0235%	8h	167.01	−0.130%	$22.1M	$78.6M	50x	as long as short
Aster MSTRUSDT	+0.0239%	8h	167.09	−0.080%	$1.8M	$6.0M	50x	as long as short
Phoenix MSTR	+0.0308%	1h	167.08	−0.090%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0326%	8h	167.01	−0.131%	$1.2M	$1.6M	—	as long as short
GRVT MSTR_USDT_Perp	+0.0346%	8h	167.11	−0.069%	$85K	$994K	10x	as long as short
Binance MSTRUSDT	+0.0416%	8h	167.09	−0.081%	$87.2M	$509.4M	50x	as long as short
edgeX MSTRUSDC	+0.0430%	4h	167.36	+0.080%	$49K	$4.4M	10x	as long as short
RISEx MSTR/USDC	+0.0459%	1h	167.08	−0.086%	$302K	$353K	10x	as long as short
BloFin MSTR-USDT	+0.0546%	8h	167.25	+0.013%	$1.1M	$1.9M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0708%	1h	167.15	−0.047%	$284K	$171K	10x	as long as short
Arcus MSTR-USD	+0.0803%	1h	167.09	−0.083%	$26K	$67K	10x	as long as short