Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.003%

Price spread now: Paradex against Pacifica−0.027%7-day average — · you buy dearer than you sell

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

Long on Pacifica 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 airdropPacifica: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.027% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 34 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	163.59	0.0100	pay 0.0013% / 1h	6m 49s	$100K	$88K	10x
Short	Paradex MSTR-USD-PERP	163.54	0.0164	get 0.0164% / 8h	1h 06m	$65	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Pacifica. 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 PacificabpFee ParadexbpOrdersPrice spread, now −0.027%Rate

Funding earned: $13.44
Price spread: −0.027% → 0.000%: −$2.75
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$1.3
Costs to cover: 0.120%
Break-even: 7.7 days

Slippage unknown: Pacifica: live order book, 17 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 Pacifica live order book, 17 min ago	1.50 bp	5.5 bp −$6	doesn't fit	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	−0.0657%	8h	163.89	+0.186%	$29.2M	$118.7M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.85	+0.161%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.68	+0.057%	$2.8M	$80K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.53	−0.031%	$508K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.517%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.63	+0.027%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.55	−0.022%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.54	−0.028%	$378K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.64	+0.033%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.34	−0.150%	$846K	$3.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0057%	1h	163.59	+0.002%	$1.3M	$7.2M	10x	as long as short
Aster MSTRUSDT	+0.0057%	8h	163.60	+0.008%	$1.8M	$8.7M	50x	as long as short
Pacifica MSTRlong	+0.0100%	1h	163.59	long leg	$100K	$88K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	163.57	−0.010%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.44	−0.089%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.71	+0.076%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.72	+0.080%	$136	—	10x	as long as short
Lighter MSTR	+0.0112%	1h	163.65	+0.039%	$3.5M	$2.0M	10x	as long as short
edgeX MSTRUSDC	+0.0141%	4h	163.56	−0.013%	$46K	$5.4M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−1.263%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0164%	8h	163.54	−0.027%	$65	—	5x
OKX MSTR-USDT-SWAP	+0.0172%	8h	163.80	+0.131%	$20.9M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0177%	8h	163.46	−0.074%	$1.2M	$2.1M	—	as long as short
tradeXYZ xyz:MSTR	+0.0243%	1h	163.65	+0.039%	$54.2M	$37.1M	10x	as long as short
Binance MSTRUSDT	+0.0253%	8h	163.79	+0.125%	$84.2M	$625.5M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0268%	8h	163.63	+0.027%	$76K	$865K	10x	as long as short
Phoenix MSTR	+0.0328%	1h	163.52	−0.041%	$56K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0357%	1h	163.44	−0.086%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0373%	8h	163.74	+0.094%	$1.0M	$2.1M	20x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	163.63	+0.029%	$266K	$426K	10x	as long as short
Bybit MSTRUSDT	+0.0393%	8h	163.84	+0.155%	$17.1M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0973%	1h	163.74	+0.094%	$278K	$437K	10x	as long as short