Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h −0.002%

Price spread now: Paradex against Nado+0.033%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.033% dearer against Nado than usual: you sell high and buy low: +$3 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	Nado MSTR-PERP	168.55	−0.0044	get 0.0005% / 1h	31m 01s	$139K	$90K	3x
Short	Paradex MSTR-USD-PERP	168.61	0.0094	get 0.0094% / 8h	7h 31m	$67	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Nado. 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 NadobpFee ParadexbpOrdersPrice spread, now +0.033%Rate

Funding earned: $28.95
Price spread: +0.033% → 0.000%: $3.33
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $21.28
Costs to cover: 0.110%
Break-even: 1.9 days

Slippage unknown: Nado: live order book, 41 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 Nado live order book, 41 min ago	4.15 bp	24.0 bp −$24	78.6 bp −$786	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-PERPlong	−0.0044%	1h	168.55	long leg	$139K	$90K	3x
Aster MSTRUSDT	0.0000%	8h	168.71	+0.090%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.69	+0.080%	$21.7M	$101.2M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.63	+0.045%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.69	+0.080%	$28.4M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.68	+0.074%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.43	−0.073%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.64	+0.051%	$2.8M	$66K	10x	as long as short
BloFin MSTR-USDT	+0.0019%	8h	168.70	+0.086%	$1.1M	$1.9M	20x	as long as short
Lighter MSTR	+0.0032%	1h	168.64	+0.051%	$3.6M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	168.53	−0.012%	$580K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.57	+0.009%	$1.4M	$9.3M	10x	as long as short
Binance MSTRUSDT	+0.0038%	8h	168.73	+0.101%	$89.0M	$615.6M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.53	−0.015%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.54	−0.009%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.62	+0.039%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.54	−0.009%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.48	−0.044%	$756K	$5.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.056%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0094%	8h	168.61	+0.033%	$67	—	5x
Pacifica MSTR	+0.0100%	1h	168.53	−0.015%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.60	+0.027%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.29	−0.157%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.64	+0.051%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.63	+0.044%	$140	—	10x	as long as short
Bybit MSTRUSDT	+0.0115%	8h	168.72	+0.098%	$15.1M	$39.3M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0221%	1h	168.63	+0.045%	$56.9M	$35.4M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.466%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.25	−0.184%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.66	+0.066%	$275K	$433K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0818%	1h	168.73	+0.104%	$287K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0958%	4h	168.47	−0.048%	$47K	$5.5M	10x	as long as short