Funding you earn now, next payment 23:00 UTC+0.0042%/8h= +4.7% APRpaid last 24h +0.015%
Price spread now: QFEX against Phemex+0.065%7-day average −0.033% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.019%+$2 on $10k
+Price spread, last 3 days (all we have)−0.015%−$2 · spread now +0.065%, 7d avg −0.033%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.098% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.033%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSTRUSDT | 169.26 | 0 | get 0.0000% / 4h | 1h 19m | $2.9M | $62K | 10x |
| Short | QFEX MSTR-USD | 169.37 | 0.0042 | get 0.0005% / 1h | 19m 52s | $1.5M | $10.2M | 10x |
Phemex MSTRUSDT
QFEX MSTR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $8.92
- Price spread: +0.065% → −0.033%
- $9.81
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$3.27
- Costs to cover
- 0.220%
- Break-even
- 9.6 days
Slippage unknown: Phemex: live order book, 4 min ago; QFEX: live order book, 4 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 Phemex live order book, 4 min ago | 2.07 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 1.18 bp | 6.2 bp −$6 | 6.2 bp −$62 | 12.5 bp −$1,247 | doesn't fit |
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-PERP | −0.0079% | 1h | 169.23 | −0.016% | $139K | $97K | 3x | as long as short |
| Aster MSTRUSDT | 0.0000% | 8h | 169.18 | −0.047% | $1.2M | $6.2M | 50x | as long as short |
| Binance MSTRUSDT | 0.0000% | 8h | 169.34 | +0.047% | $89.4M | $629.2M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 169.34 | +0.047% | $22.1M | $107.0M | 50x | as long as short |
| RISEx MSTR/USDC | 0.0000% | 1h | 169.35 | +0.056% | $276K | $442K | 10x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 169.26 | 0.000% | $4.8M | $19.4M | 50x | as long as short |
| Variational Omni MSTR | 0.0000% | 8h | 169.35 | +0.055% | $1.2M | $2.4M | — | as long as short |
| GRVT MSTR_USDT_Perp | 0.0000% | 8h | 169.29 | +0.019% | $83K | $935K | 10x | as long as short |
| Phemex MSTRUSDTlong | 0.0000% | 4h | 169.26 | long leg | $2.9M | $62K | 10x | |
| BloFin MSTR-USDT | +0.0020% | 8h | 169.47 | +0.124% | $1.1M | $1.8M | 20x | as long as short |
Nado MSTR-PERP
Aster MSTRUSDT
Binance MSTRUSDT
OKX MSTR-USDT-SWAP
RISEx MSTR/USDC
Gate MSTR_USDT
Variational Omni MSTR
GRVT MSTR_USDT_Perp
BloFin MSTR-USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter MSTR | +0.0032% | 1h | 169.21 | −0.030% | $3.6M | $2.5M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 169.20 | −0.035% | $585K | $1.8M | 10x | as long as short |
| Bitget MSTRUSDT | +0.0035% | 8h | 169.28 | +0.012% | $28.8M | $119.5M | 25x | as long as short |
| QFEX MSTR-USDshort | +0.0042% | 1h | 169.37 | +0.065% | $1.5M | $10.2M | 10x | |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 169.37 | +0.065% | — | $2.1M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 169.30 | +0.024% | $397K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 169.25 | −0.006% | $44K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 169.16 | −0.059% | $782K | $5.1M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0056% | 1h | 168.66 | −0.354% | $1.5M | $1.2M | 10x | as long as short |
| Bybit MSTRUSDT | +0.0063% | 8h | 169.33 | +0.041% | $15.2M | $40.8M | 50x | as long as short |
| Paradex MSTR-USD-PERP | +0.0084% | 8h | 169.31 | +0.031% | $68 | — | 5x | as long as short |
| tradeXYZ xyz:MSTR | +0.0092% | 1h | 169.24 | −0.012% | $57.0M | $37.7M | 10x | as long as short |
| edgeX MSTRUSDC | +0.0099% | 4h | 169.17 | −0.054% | $47K | $5.5M | 10x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 169.26 | −0.002% | $104K | $114K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 169.14 | −0.071% | $2.6M | $2.8M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 169.06 | −0.118% | $4K | $552K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 169.27 | +0.006% | $3K | $11K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 169.28 | +0.014% | $141 | — | 10x | as long as short |
| Phoenix MSTR | +0.0231% | 1h | 168.76 | −0.294% | $56K | $394K | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0333% | 1h | 169.29 | +0.018% | $13K | $22K | 30x | as long as short |
| Arcus MSTR-USD | +0.0457% | 1h | 169.41 | +0.089% | $27K | $129K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0696% | 1h | 169.28 | +0.012% | $288K | $439K | 10x | as long as short |
Lighter MSTR
Extended MSTR_24_5-USD
Bitget MSTRUSDT
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
Coinbase International MSTR-PERP-INTX
Bybit MSTRUSDT
Paradex MSTR-USD-PERP
tradeXYZ xyz:MSTR
edgeX MSTRUSDC
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
Phoenix MSTR
Injective MSTR/USDC PERP
Arcus MSTR-USD
Deribit MSTR_USDC-PERPETUAL