Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.174%

Price spread now: QFEX against edgeX+0.213%7-day average −0.035% · 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−$10as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.104%−$10 on $10k

Price spread, last 7 days−0.218%−$22 · spread now +0.213%, 7d avg −0.035%

Together, before fees−0.322%+ Points / potential airdropedgeX: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.248% dearer against edgeX than usual: you sell high and buy low (spread +0.213% now, against its 7-day average of −0.035%): +$25 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.8 days. At the pace of the last 4 days (−0.104% in total) that is about 8.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	164.71	0.0277	pay 0.0139% / 4h	1h 31m	$49K	$5.4M	10x
Short	QFEX MSTR-USD	165.06	0.0060	get 0.0007% / 1h	31m 07s	$1.4M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.213%Rate

Funding earned: −$45.75
Price spread: +0.213% → −0.035%: $24.83
Slippage, 4 orders: −$15.79
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$55.72
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; QFEX: live order book, 8 min ago.

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, 3 min ago	4.86 bp	11.7 bp −$12	18.8 bp −$188	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	1.52 bp	6.5 bp −$7	8.3 bp −$83	doesn't fit	doesn't fit

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	−0.1242%	8h	165.35	+0.389%	$27.8M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.10	+0.239%	$1.9M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.27	+0.341%	$20.8M	$100.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.31	+0.365%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.24	+0.323%	$2.8M	$71K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.22	+0.310%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.00	+0.177%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.812%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0034%	8h	165.14	+0.262%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.74	+0.019%	$26K	$112K	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	165.02	+0.189%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.04	+0.201%	$385K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.35	−0.218%	$868K	$4.2M	10x	as long as short
QFEX MSTR-USDshort	+0.0060%	1h	165.06	+0.213%	$1.4M	$7.6M	10x
tradeXYZ xyz:MSTR	+0.0073%	1h	165.14	+0.262%	$55.0M	$36.7M	10x	as long as short
SoDEX MSTR-USD	+0.0095%	1h	165.01	+0.183%	$43K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0099%	8h	165.29	+0.353%	$88.6M	$618.8M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	165.01	+0.184%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.12	+0.250%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.51	−0.121%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.14	+0.262%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.17	+0.282%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0145%	8h	164.97	+0.158%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0169%	8h	164.79	+0.047%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.376%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	165.05	+0.206%	$122K	$150K	3x	as long as short
BloFin MSTR-USDT	+0.0219%	8h	165.30	+0.359%	$1.0M	$2.0M	20x	as long as short
edgeX MSTRUSDClong	+0.0277%	4h	164.71	long leg	$49K	$5.4M	10x
RISEx MSTR/USDC	+0.0291%	1h	165.07	+0.218%	$270K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.64	−0.040%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0354%	8h	165.35	+0.389%	$17.2M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1083%	1h	165.24	+0.323%	$281K	$438K	10x	as long as short