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Funding arb · Price arb /

MSTR

RWAall MSTR markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.016%
Price spread now: QFEX against Paradex−0.036%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 QFEX
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 QFEX is 0.036% cheaper against Paradex than usual: you would sell low and buy high (−$4 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-PERP163.560.0141pay 0.0141% / 8h1h 57m$65—5x
ShortQFEX MSTR-USD163.500.0057get 0.0007% / 1h57m 32s$1.3M$7.3M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX 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
−$17.78
Price spread: −0.036% → 0.000%
−$3.62
Slippage, 4 orders
no order book: not counted
Fee Paradex: 2 bp × 2 orders
−$4
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$35.4
Costs to cover
0.140%
Break-even
never at this rate
Slippage unknown: Paradex: no order-book sample; QFEX: live order book, 6 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 QFEX live order book, 6 min ago1.22 bp6.2 bp −$67.4 bp −$7415.4 bp −$1,536doesn'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−0.0915%8h163.69+0.080%$28.7M$119.2M25xas long as short
Gate MSTR_USDT0.0000%8h163.60+0.025%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37−0.116%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0015%8h163.42−0.086%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.34−0.134%$511K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.534%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.72+0.098%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0043%1h163.51−0.030%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.58+0.013%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.57+0.007%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.48−0.048%$845K$3.9M10xas long as short
QFEX MSTR-USDshort+0.0057%1h163.50−0.036%$1.3M$7.3M10x
Pacifica MSTR+0.0100%1h163.47−0.058%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.62+0.037%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.66+0.062%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.60+0.025%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.59+0.020%$136—10xas long as short
OKX MSTR-USDT-SWAP+0.0120%8h163.58+0.013%$20.8M$100.9M50xas long as short
Lighter MSTR+0.0136%1h163.57+0.007%$3.5M$2.0M10xas long as short
Variational Omni MSTR+0.0141%8h163.71+0.095%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERPlong+0.0141%8h163.56long leg$65—5x
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.247%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0211%1h163.51−0.030%$54.2M$37.5M10xas long as short
Binance MSTRUSDT+0.0216%8h163.57+0.007%$83.9M$629.0M50xas long as short
GRVT MSTR_USDT_Perp+0.0226%8h163.78+0.136%$83K$865K10xas long as short
BloFin MSTR-USDT+0.0332%8h163.50−0.036%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0362%1h163.73+0.106%$56K$219K10xas long as short
Nado MSTR-PERP+0.0371%1h163.48−0.050%$131K$157K3xas long as short
Bybit MSTRUSDT+0.0373%8h163.55−0.006%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.53−0.021%$263K$437K10xas long as short
edgeX MSTRUSDC+0.0458%4h163.50−0.034%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1218%1h163.71+0.092%$278K$438K10xas long as short