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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0112%/8h= −12.2% APRpaid last 24h −0.017%
Price spread now: Polymarket Perps against Paradex−0.134%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on ParadexShort on Polymarket Perps
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
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Polymarket Perps is 0.134% cheaper against Paradex than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParadex MSTR-USD-PERP163.420.0162pay 0.0162% / 8h7h 46m$65—5x
ShortPolymarket Perps MSTR-USD163.200.0050get 0.0006% / 1h46m 08s$377K$2.7M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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

Funding earned
−$23.42
Price spread: −0.134% → 0.000%
−$13.38
Slippage, 4 orders
no order book: not counted
Fee Paradex: 2 bp × 2 orders
−$4
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$48.8
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Paradex: no order-book sample; Polymarket Perps: live order book, 18 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Paradex no order-book sample—————
Sell Polymarket Perps live order book, 18 min ago2.45 bp6.8 bp −$77.5 bp −$7510.5 bp −$1,048doesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0211%8h163.50+0.050%$30.1M$118.5M25xas long as short
Phemex MSTRUSDT0.0000%4h163.41−0.005%$2.7M$85K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.16−0.161%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.623%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.55+0.080%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.32−0.060%—$1.7M25xas long as short
Polymarket Perps MSTR-USDshort+0.0050%1h163.20−0.134%$377K$2.7M10x
SoDEX MSTR-USD+0.0050%1h163.36−0.036%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.39−0.018%$892K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.44+0.013%$1.3M$7.0M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter MSTR+0.0096%1h163.36−0.036%$3.5M$1.7M10xas long as short
Pacifica MSTR+0.0100%1h163.48+0.040%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.42+0.001%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.36−0.036%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.43+0.007%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.39−0.015%$136—10xas long as short
Aster MSTRUSDT+0.0120%8h163.50+0.050%$1.8M$8.7M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.489%$1.4M$1.1M10xas long as short
Gate MSTR_USDT+0.0124%8h163.48+0.038%$4.7M$18.4M50xas long as short
Paradex MSTR-USD-PERPlong+0.0162%8h163.42long leg$65—5x
Nado MSTR-PERP+0.0169%1h163.24−0.108%$125K$165K3xas long as short
Variational Omni MSTR+0.0218%8h163.95+0.324%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0228%8h163.38−0.024%$20.9M$99.3M50xas long as short
Binance MSTRUSDT+0.0315%8h163.37−0.030%$84.1M$619.0M50xas long as short
RISEx MSTR/USDC+0.0400%1h163.42+0.001%$268K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0424%1h163.35−0.042%$53.9M$37.6M10xas long as short
BloFin MSTR-USDT+0.0435%8h163.41−0.005%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.65+0.140%$56K$223K10xas long as short
edgeX MSTRUSDC+0.0570%4h163.65+0.142%$47K$5.4M10xas long as short
Bybit MSTRUSDT+0.0674%8h163.36−0.036%$17.1M$41.3M50xas long as short
GRVT MSTR_USDT_Perp+0.1038%8h163.62+0.125%$80K$848K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1160%1h163.38−0.024%$278K$432K10xas long as short