Settings8H · net · $10k
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Funding arb · Price arb /

MSTR

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Alert: spread
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Funding you earn now, next payment 04:00 UTC−0.0101%/8h= −11.1% APRnext payment −$0.13 per $10,000 · paid last 24h −0.007%
Price spread now: QFEX against Coinbase International+0.067%7-day average +0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$310.305% of the position
Long on Coinbase InternationalShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.151%−$15 on $10k
Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.067%, 7d avg +0.074%
Together, before fees−0.203%−$20 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International MSTR-PERP-INTX163.570.0168pay 0.0021% / 1h2m 03s$1.4M$1.1M10x
ShortQFEX MSTR-USD163.680.0067get 0.0008% / 1h2m 03s$1.4M$7.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX 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

Funding earned
−$21.3
Price spread: +0.067% → +0.074%
−$0.65
Slippage, 4 orders
−$10.52
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$52.48
Costs to cover
0.305%
Break-even
never at this rate
Slippage from Coinbase International: live order book, 1 min ago; QFEX: live order book, 7 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 Coinbase International live order book, 1 min ago3.36 bp9.7 bp −$1015.6 bp −$156doesn't fitdoesn't fit
Sell QFEX live order book, 7 min ago1.22 bp6.2 bp −$66.8 bp −$6814.7 bp −$1,473doesn'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−0.0972%8h163.81+0.147%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.60+0.019%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.70+0.079%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.87+0.183%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.60+0.018%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.55−0.012%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.528%$8K$26K30xas long as short
OKX MSTR-USDT-SWAP+0.0040%8h163.63+0.037%$20.7M$99.0M50xas long as short
Arcus MSTR-USD+0.0040%1h163.88+0.190%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.46−0.067%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.62+0.031%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.61+0.024%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.77+0.122%$817K$4.0M10xas long as short
QFEX MSTR-USDshort+0.0067%1h163.68+0.067%$1.4M$7.2M10x
Paradex MSTR-USD-PERP+0.0075%8h163.68+0.065%$65—5xas long as short
Variational Omni MSTR+0.0091%8h163.89+0.193%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.66+0.053%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.63+0.037%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.67+0.061%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.66+0.055%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.67+0.059%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0149%8h163.93+0.222%$83K$824K10xas long as short
Binance MSTRUSDT+0.0156%8h163.59+0.009%$85.8M$618.9M50xas long as short
Coinbase International MSTR-PERP-INTXlong+0.0168%1h163.57long leg$1.4M$1.1M10x
RISEx MSTR/USDC+0.0231%1h163.72+0.092%$265K$445K10xas long as short
Nado MSTR-PERP+0.0238%1h163.60+0.020%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0251%1h163.61+0.024%$54.5M$37.1M10xas long as short
BloFin MSTR-USDT+0.0277%8h163.71+0.086%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0310%8h163.66+0.055%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.96+0.239%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0369%4h163.85+0.171%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0484%1h163.70+0.079%$278K$438K10xas long as short