Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.079%

Price spread now: Paradex against Coinbase International+0.218%7-day average — · you sell dearer than you buy

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

Long on Coinbase International 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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.218% dearer against Coinbase International than usual: you sell high and buy low: +$22 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	Coinbase International MSTR-PERP-INTX	169.11	0.0048	pay 0.0006% / 1h	12m 21s	$1.5M	$1.2M	10x
Short	Paradex MSTR-USD-PERP	169.48	0.0089	get 0.0089% / 8h	2h 12m	$68	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now +0.218%Rate

Funding earned: $8.55
Price spread: +0.218% → 0.000%: $21.82
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $16.37
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 1 min ago; 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 Coinbase International live order book, 1 min ago	6.49 bp	11.8 bp −$12	16.1 bp −$161	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 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
Nado MSTR-PERP	−0.0055%	1h	169.46	+0.207%	$140K	$98K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.51	+0.238%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.47	+0.210%	$88.6M	$630.6M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.51	+0.237%	$22.1M	$107.5M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.47	+0.210%	$277K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.43	+0.189%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.78	+0.395%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.74	+0.370%	$83K	$948K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	0.0000%	1h	169.46	+0.207%	$288K	$438K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.47	+0.213%	$2.9M	$58K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MSTR-USDT	+0.0006%	8h	169.51	+0.237%	$1.1M	$1.8M	20x	as long as short
Lighter MSTR	+0.0032%	1h	169.48	+0.219%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.43	+0.186%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.49	+0.225%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.71	+0.355%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0048%	1h	169.11	long leg	$1.5M	$1.2M	10x
Polymarket Perps MSTR-USD	+0.0050%	1h	169.44	+0.195%	$419K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.48	+0.219%	$45K	$3K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.50	+0.231%	$56.7M	$38.3M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.39	+0.166%	$779K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0076%	8h	169.48	+0.219%	$28.8M	$120.0M	25x	as long as short
Paradex MSTR-USD-PERPshort	+0.0089%	8h	169.48	+0.218%	$68	—	5x
Bybit MSTRUSDT	+0.0097%	8h	169.49	+0.225%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.44	+0.197%	$104K	$121K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.44	+0.195%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.53	+0.248%	$4K	$871K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.47	+0.213%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.45	+0.201%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.66	+0.327%	$57K	$396K	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.61	+0.296%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.61	+0.296%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0743%	4h	169.62	+0.301%	$48K	$5.5M	10x	as long as short