Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.035%

Price spread now: Extended against Paradex+0.008%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 Extended

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 · Extended: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	168.68	0.0069	pay 0.0069% / 8h	1h 26m	$67	—	5x
Short	Extended MSTR_24_5-USD	168.69	0.0032	get 0.0004% / 1h	26m 46s	$585K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$7.75
Price spread: +0.008% → 0.000%: $0.78
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$15.97
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 2 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 Extended live order book, 2 min ago	1.78 bp	5.1 bp −$5	13.6 bp −$136	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
Nado MSTR-PERP	−0.0116%	1h	168.63	−0.033%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0014%	8h	168.81	+0.076%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.73	+0.026%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	168.71	+0.017%	$88.2M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.75	+0.040%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.71	+0.015%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.72	+0.023%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.91	+0.135%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.84	+0.092%	$83K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.85	+0.100%	$2.9M	$62K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	+0.0026%	8h	168.76	+0.046%	$28.8M	$119.8M	25x	as long as short
Lighter MSTR	+0.0032%	1h	168.66	−0.013%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	168.69	+0.008%	$585K	$1.8M	10x
QFEX MSTR-USD	+0.0042%	1h	168.73	+0.029%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.76	+0.046%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.70	+0.011%	$398K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.73	+0.029%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.77	+0.052%	$741K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0053%	8h	168.75	+0.040%	$15.1M	$40.9M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.013%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0065%	1h	168.72	+0.023%	$56.8M	$38.0M	10x	as long as short
Paradex MSTR-USD-PERPlong	+0.0069%	8h	168.68	long leg	$67	—	5x
Pacifica MSTR	+0.0100%	1h	168.68	−0.002%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.70	+0.011%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.73	+0.029%	$4K	$552K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.74	+0.035%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.72	+0.022%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	168.69	+0.005%	$56K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.29	+0.361%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0351%	4h	168.76	+0.044%	$47K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.81	+0.076%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0580%	1h	168.83	+0.088%	$287K	$439K	10x	as long as short