Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h +0.078%

Price spread now: Arcus against Paradex+0.066%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Arcus

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 airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Arcus is 0.066% dearer against Paradex than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	164.58	0.0138	pay 0.0138% / 8h	3h 52m	$66	—	5x
Short	Arcus MSTR-USD	164.69	0.0040	get 0.0005% / 1h	52m 21s	$26K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Paradex. 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 ParadexbpFee ArcusbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$20.5
Price spread: +0.066% → 0.000%: $6.64
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$22.37
Costs to cover: 0.085%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Arcus: live order book, 1 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Arcus live order book, 1 min ago	6.07 bp	11.0 bp −$11	33.0 bp −$330	doesn't fit	doesn't fit

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	−0.0887%	8h	164.71	+0.079%	$27.9M	$115.3M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.52	−0.035%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.64	+0.036%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.59	+0.006%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0025%	8h	164.54	−0.025%	$20.7M	$99.6M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.50	−0.049%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.40	−0.113%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.892%	$8K	$26K	30x	as long as short
Arcus MSTR-USDshort	+0.0040%	1h	164.69	+0.066%	$26K	$109K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	164.49	−0.055%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.54	−0.025%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.50	−0.049%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.47	−0.067%	$862K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.56	−0.013%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0099%	8h	164.66	+0.046%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.57	−0.007%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.50	−0.049%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.58	0.000%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.51	−0.043%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.52	−0.038%	$137	—	10x	as long as short
Paradex MSTR-USD-PERPlong	+0.0138%	8h	164.58	long leg	$66	—	5x
Binance MSTRUSDT	+0.0157%	8h	164.53	−0.031%	$86.8M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.280%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0175%	8h	164.73	+0.091%	$82K	$792K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0201%	1h	164.52	−0.037%	$54.8M	$37.0M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.63	+0.027%	$267K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0234%	1h	164.51	−0.046%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.71	+0.079%	$1.0M	$2.0M	20x	as long as short
Phoenix MSTR	+0.0340%	1h	164.59	+0.004%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0343%	8h	164.62	+0.024%	$16.9M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0602%	1h	164.54	−0.025%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0928%	4h	164.60	+0.012%	$49K	$5.3M	10x	as long as short