Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0152%/8h= −16.7% APRpaid last 24h −0.046%

Price spread now: Nado against Paradex−0.053%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Nado

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 airdropParadex: Active · Nado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Nado is 0.053% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	169.27	0.0082	pay 0.0082% / 8h	1h 16m	$68	—	5x
Short	Nado MSTR-PERP	169.18	−0.0070	pay 0.0009% / 1h	16m 00s	$139K	$97K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.053%Rate

Funding earned: −$31.99
Price spread: −0.053% → 0.000%: −$5.3
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$48.29
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Nado: 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 Nado live order book, 1 min ago	7.39 bp	25.2 bp −$25	70.9 bp −$709	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-PERPshort	−0.0070%	1h	169.18	−0.053%	$139K	$97K	3x
BloFin MSTR-USDT	−0.0019%	8h	169.32	+0.027%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.18	−0.055%	$1.2M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.24	−0.020%	$89.3M	$628.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.25	−0.014%	$22.1M	$106.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.32	+0.026%	$276K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.19	−0.049%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.35	+0.047%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.37	+0.057%	$83K	$889K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.26	−0.008%	$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
Lighter MSTR	+0.0032%	1h	169.15	−0.073%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.12	−0.092%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0035%	8h	169.22	−0.032%	$28.8M	$119.4M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.32	+0.027%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.35	+0.045%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.26	−0.008%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.22	−0.032%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.25	−0.014%	$781K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.363%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0066%	8h	169.22	−0.032%	$15.2M	$40.5M	50x	as long as short
Paradex MSTR-USD-PERPlong	+0.0082%	8h	169.27	long leg	$68	—	5x
tradeXYZ xyz:MSTR	+0.0095%	1h	169.14	−0.079%	$57.0M	$37.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.23	−0.023%	$104K	$105K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.14	−0.079%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.15	−0.073%	$4K	$481K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.30	+0.016%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.26	−0.007%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.34	+0.037%	$57K	$394K	10x	as long as short
edgeX MSTRUSDC	+0.0287%	4h	169.42	+0.084%	$48K	$5.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.027%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.38	+0.063%	$27K	$129K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0459%	1h	169.31	+0.021%	$288K	$439K	10x	as long as short