Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.020%

Price spread now: Paradex against Extended+0.166%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.166% dearer against Extended than usual: you sell high and buy low: +$17 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	Extended MSTR_24_5-USD	166.48	0.0032	pay 0.0004% / 1h	0m 59s	$542K	$1.8M	10x
Short	Paradex MSTR-USD-PERP	166.75	0.0190	get 0.0190% / 8h	7h 00m	$67	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now +0.166%Rate

Funding earned: $33.24
Price spread: +0.166% → 0.000%: $16.58
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $40.82
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Extended: live order book, 2 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 Extended live order book, 2 min ago	2.40 bp	5.3 bp −$5	20.3 bp −$203	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
Gate MSTR_USDT	0.0000%	8h	166.68	+0.121%	$4.9M	$19.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.60	+0.073%	$31.3M	$113.5M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.62	+0.085%	$2.8M	$83K	10x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	166.48	long leg	$542K	$1.8M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−2.323%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.87	+0.235%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.96	+0.290%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.64	+0.097%	$385K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.56	+0.049%	$926K	$3.5M	10x	as long as short
QFEX MSTR-USD	+0.0061%	1h	166.83	+0.211%	$1.3M	$6.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	166.76	+0.169%	$102K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.61	+0.079%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.85	+0.223%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.72	+0.145%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.67	+0.117%	$138	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	166.72	+0.145%	$1.4M	$644K	10x	as long as short
Lighter MSTR	+0.0160%	1h	166.60	+0.073%	$3.5M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0178%	1h	166.69	+0.126%	$128K	$143K	3x	as long as short
Paradex MSTR-USD-PERPshort	+0.0190%	8h	166.75	+0.166%	$67	—	5x
Aster MSTRUSDT	+0.0193%	8h	166.67	+0.115%	$1.8M	$8.6M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0278%	8h	166.65	+0.103%	$21.6M	$92.7M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	167.24	+0.456%	$1.2M	$1.8M	—	as long as short
tradeXYZ xyz:MSTR	+0.0361%	1h	166.55	+0.043%	$55.0M	$36.2M	10x	as long as short
Binance MSTRUSDT	+0.0386%	8h	166.64	+0.097%	$87.1M	$590.3M	50x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	166.91	+0.259%	$272K	$387K	10x	as long as short
Phoenix MSTR	+0.0460%	1h	166.84	+0.220%	$57K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0506%	8h	166.61	+0.079%	$1.1M	$2.1M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0531%	1h	166.59	+0.067%	$283K	$289K	10x	as long as short
Bybit MSTRUSDT	+0.0570%	8h	166.68	+0.121%	$17.2M	$40.3M	50x	as long as short
edgeX MSTRUSDC	+0.0670%	4h	167.12	+0.387%	$49K	$5.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0727%	8h	167.11	+0.380%	$82K	$844K	10x	as long as short
SoDEX MSTR-USD	+0.1193%	1h	166.63	+0.091%	$44K	$3K	10x	as long as short