Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0831%/8h= −91.0% APRpaid last 24h −0.157%

Price spread now: Paradex against edgeX+0.051%52s7-day average — · you sell dearer than you buy

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

Long on edgeX 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 airdropedgeX: Active · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.051% dearer against edgeX than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 5 hours. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	165.49	0.0965	pay 0.0482% / 4h	1h 12m	$51K	$5.4M	10x
Short	Paradex MSTR-USD-PERP	165.57	0.0134	get 0.0134% / 8h	5h 12m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against edgeX. 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 edgeXbpFee ParadexbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$174.58
Price spread: +0.051% → 0.000%: $5.06
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$182.52
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: edgeX: 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 edgeX live order book, 1 min ago	5.44 bp	12.3 bp −$12	19.4 bp −$194	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
Bitget MSTRUSDT	−0.0932%	8h	165.66	+0.104%	$27.8M	$114.6M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.48	−0.008%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.61	+0.073%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.50	+0.007%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0001%	8h	165.55	+0.037%	$20.8M	$100.1M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.48	−0.005%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.40	−0.053%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.327%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.67	+0.111%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.57	+0.049%	$27K	$110K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.68	+0.116%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.44	−0.029%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.50	+0.007%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.39	−0.060%	$882K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.53	+0.025%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USD	+0.0093%	1h	165.49	+0.001%	$44K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.46	−0.018%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.50	+0.007%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.40	−0.053%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.54	+0.031%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.53	+0.028%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0109%	8h	165.61	+0.073%	$88.3M	$616.5M	50x	as long as short
Paradex MSTR-USD-PERPshort	+0.0134%	8h	165.57	+0.051%	$66	—	5x
GRVT MSTR_USDT_Perp	+0.0161%	8h	165.55	+0.035%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	+0.013%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0216%	1h	165.51	+0.015%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0228%	8h	165.53	+0.025%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.58	+0.055%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.57	+0.047%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0343%	8h	165.64	+0.092%	$17.3M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0657%	1h	165.56	+0.043%	$282K	$438K	10x	as long as short
edgeX MSTRUSDClong	+0.0965%	4h	165.49	long leg	$51K	$5.4M	10x