Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0124%/8h= −13.5% APRpaid last 24h −0.019%

Price spread now: Vest against Paradex−0.109%48s7-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 Vest

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 · Vest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Vest is 0.109% cheaper against Paradex than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	162.46	0.0169	pay 0.0169% / 8h	7h 26m	$65	—	5x
Short	Vest MSTR-USD-PERP	162.28	0.0046	get 0.0006% / 1h	26m 34s	—	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$25.95
Price spread: −0.109% → 0.000%: −$10.9
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Vest: 1 bp × 2 orders: −$2
Net: −$42.85
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Vest: no order-book sample. 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 Vest no order-book sample	—	—	—	—	—

Paradex and Vest: 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
Gate MSTR_USDT	0.0000%	8h	162.52	+0.039%	$4.7M	$18.7M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	162.56	+0.063%	$30.6M	$117.8M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.39	−0.041%	$2.7M	$87K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.31	−0.088%	$590K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	+0.094%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.56	+0.063%	$26K	$114K	10x	as long as short
Vest MSTR-USD-PERPshort	+0.0046%	1h	162.28	−0.109%	—	$1.8M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	162.45	−0.004%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.35	−0.066%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.37	−0.054%	$900K	$3.7M	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	+0.0061%	1h	162.47	+0.008%	$1.3M	$7.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.44	−0.012%	$99K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.45	−0.004%	$2.3M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	162.55	+0.057%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.43	−0.017%	$3K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.43	−0.014%	$135	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	162.26	−0.121%	$1.4M	$1.1M	10x	as long as short
Aster MSTRUSDT	+0.0121%	8h	162.41	−0.029%	$1.7M	$8.7M	50x	as long as short
Paradex MSTR-USD-PERPlong	+0.0169%	8h	162.46	long leg	$65	—	5x
Lighter MSTR	+0.0176%	1h	162.47	+0.008%	$3.4M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0183%	1h	162.34	−0.070%	$124K	$157K	3x	as long as short
OKX MSTR-USDT-SWAP	+0.0231%	8h	162.53	+0.045%	$20.8M	$96.6M	50x	as long as short
Variational Omni MSTR	+0.0240%	8h	162.69	+0.142%	$1.2M	$2.0M	—	as long as short
Binance MSTRUSDT	+0.0314%	8h	162.54	+0.054%	$84.4M	$617.7M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0342%	8h	162.74	+0.175%	$84K	$846K	10x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	162.50	+0.026%	$267K	$390K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0413%	1h	162.50	+0.026%	$53.5M	$37.6M	10x	as long as short
BloFin MSTR-USDT	+0.0434%	8h	162.43	−0.017%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0460%	1h	162.62	+0.098%	$55K	$223K	10x	as long as short
Bybit MSTRUSDT	+0.0510%	8h	162.55	+0.057%	$17.0M	$41.0M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0798%	1h	162.41	−0.029%	$276K	$430K	10x	as long as short
edgeX MSTRUSDC	+0.0901%	4h	162.71	+0.158%	$46K	$5.4M	10x	as long as short