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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 09:00 UTC−0.0225%/8h= −24.7% APRpaid last 24h −0.044%
Price spread now: QFEX against Binance−0.043%7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$260.259% of the position
Long on BinanceShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.063%−$6 on $10k
Price spread, last 7 days−0.009%−$1 · spread now −0.043%, 7d avg −0.074%
Together, before fees−0.072%−$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.031% dearer against Binance than usual: you sell high and buy low (spread −0.043% now, against its 7-day average of −0.074%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 4 days (−0.063% in total) that is about 44 hours.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.063% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance MSTRUSDT163.610.0287pay 0.0287% / 8h7h 54m$84.2M$619.4M50x
ShortQFEX MSTR-USD163.540.0061get 0.0008% / 1h54m 10s$1.4M$7.1M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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
−$47.34
Price spread: −0.043% → −0.074%
$3.09
Slippage, 4 orders
−$5.88
Fee Binance: 5 bp × 2 orders
−$10
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$70.13
Costs to cover
0.259%
Break-even
never at this rate
Slippage from Binance: live order book, 5 min ago; QFEX: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 5 min ago0.31 bp7.1 bp −$711.4 bp −$11442.7 bp −$4,270doesn't fit
Sell QFEX live order book, 5 min ago1.22 bp6.2 bp −$67.0 bp −$70doesn't fitdoesn't fit

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−0.0318%8h163.72+0.067%$29.9M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.68+0.043%$4.7M$18.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.56−0.031%$2.8M$85K10xas long as short
Lighter MSTR+0.0032%1h163.50−0.067%$3.5M$1.7M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.49−0.075%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.502%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.67+0.037%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.50−0.067%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.52−0.055%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.46−0.092%$898K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0058%1h163.56−0.031%$43K$3K10xas long as short
QFEX MSTR-USDshort+0.0061%1h163.54−0.043%$1.4M$7.1M10x
Aster MSTRUSDT+0.0091%8h163.57−0.024%$1.8M$8.7M50xas long as short
Nado MSTR-PERP+0.0100%1h163.42−0.116%$125K$165K3xas long as short
Pacifica MSTR+0.0100%1h163.61+0.002%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.48−0.079%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.45−0.098%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.60−0.006%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.59−0.010%$136—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.605%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0131%8h163.54−0.041%$65—5xas long as short
Bybit MSTRUSDT+0.0179%8h163.65+0.024%$17.1M$41.4M50xas long as short
OKX MSTR-USDT-SWAP+0.0214%8h163.66+0.031%$20.9M$99.6M50xas long as short
Variational Omni MSTR+0.0215%8h163.64+0.017%$1.2M$2.0M—as long as short
Binance MSTRUSDTlong+0.0287%8h163.61long leg$84.2M$619.4M50x
tradeXYZ xyz:MSTR+0.0335%1h163.63+0.012%$54.0M$37.4M10xas long as short
Phoenix MSTR+0.0357%1h163.79+0.108%$56K$223K10xas long as short
RISEx MSTR/USDC+0.0400%1h163.61+0.003%$269K$417K10xas long as short
BloFin MSTR-USDT+0.0406%8h163.47−0.086%$1.0M$2.1M20xas long as short
GRVT MSTR_USDT_Perp+0.0485%8h163.68+0.043%$80K$858K10xas long as short
edgeX MSTRUSDC+0.0653%4h163.92+0.189%$47K$5.3M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0668%1h163.52−0.055%$278K$435K10xas long as short