Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.003%

Price spread now: Pacifica against Paradex+0.025%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 Pacifica

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 · Pacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Pacifica is 0.025% dearer against Paradex than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	162.79	0.0148	pay 0.0148% / 8h	2h 16m	$65	—	5x
Short	Pacifica MSTR	162.83	0.0100	get 0.0013% / 1h	16m 48s	$100K	$83K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.025%Rate

Funding earned: −$10.02
Price spread: +0.025% → 0.000%: $2.47
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$19.55
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Pacifica: live order book, 31 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 Pacifica live order book, 31 min ago	0.67 bp	10.6 bp −$11	doesn't fit	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	−0.1303%	8h	163.06	+0.165%	$27.2M	$118.3M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.89	+0.060%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.01	+0.134%	$2.7M	$77K	10x	as long as short
Aster MSTRUSDT	+0.0003%	8h	162.80	+0.002%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0021%	1h	162.55	−0.149%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.69	−0.066%	$503K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.022%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.60	−0.118%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.86	+0.042%	$376K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.56	−0.143%	$866K	$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	+0.0054%	1h	162.84	+0.029%	$1.3M	$7.3M	10x	as long as short
SoDEX MSTR-USD	+0.0055%	1h	162.87	+0.048%	$43K	$3K	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	162.97	+0.107%	$264K	$443K	10x	as long as short
Pacifica MSTRshort	+0.0100%	1h	162.83	+0.025%	$100K	$83K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	162.81	+0.011%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.70	−0.057%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.91	+0.072%	$4K	$9K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.94	+0.092%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0105%	8h	162.85	+0.036%	$20.6M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0130%	8h	162.23	−0.347%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERPlong	+0.0148%	8h	162.79	long leg	$65	—	5x
Lighter MSTR	+0.0152%	1h	162.92	+0.079%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.781%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0206%	8h	162.85	+0.036%	$83.5M	$627.9M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0222%	8h	162.79	+0.001%	$79K	$857K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0300%	1h	162.82	+0.017%	$54.1M	$37.2M	10x	as long as short
BloFin MSTR-USDT	+0.0326%	8h	162.95	+0.097%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0349%	1h	162.71	−0.049%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0362%	1h	162.72	−0.043%	$55K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.84	+0.029%	$16.7M	$41.9M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0671%	1h	162.97	+0.109%	$277K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0737%	4h	162.33	−0.283%	$45K	$5.4M	10x	as long as short