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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.1038%/8h= −113.6% APRpaid last 24h +0.019%
Price spread now: Bitget against QFEX+0.177%46s7-day average +0.059% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$300.298% of the position
Long on QFEXShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.032%+$3 on $10k
Price spread, last 7 days−0.117%−$12 · spread now +0.177%, 7d avg +0.059%
Together, before fees−0.085%−$8 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bitget is 0.119% dearer against QFEX than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of +0.059%): +$12 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 9 hours. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.032% in total (about 3.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX MSTR-USD163.620.0067pay 0.0008% / 1h7m 48s$1.4M$7.3M10x
ShortBitget MSTRUSDT163.91−0.0971pay 0.0971% / 8h3h 07m$27.1M$116.6M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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
−$217.89
Price spread: +0.177% → +0.059%
$11.86
Slippage, 4 orders
−$7.82
Fee QFEX: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$235.85
Costs to cover
0.298%
Break-even
never at this rate
Slippage from QFEX: live order book, 6 min ago; Bitget: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 6 min ago1.53 bp6.5 bp −$78.1 bp −$81doesn't fitdoesn't fit
Sell Bitget live order book, 1 min ago0.31 bp8.7 bp −$913.6 bp −$13637.9 bp −$3,789doesn't fit

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 MSTRUSDTshort−0.0971%8h163.91+0.177%$27.1M$116.6M25x
Aster MSTRUSDT0.0000%8h163.69+0.040%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.81+0.116%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.78+0.098%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.74+0.073%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.57−0.031%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.496%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.82+0.122%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.76+0.086%$20.7M$98.9M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.39−0.141%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.58−0.024%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.63+0.006%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.47−0.092%$817K$4.0M10xas long as short
QFEX MSTR-USDlong+0.0067%1h163.62long leg$1.4M$7.3M10x
Paradex MSTR-USD-PERP+0.0069%8h163.62−0.003%$65—5xas long as short
Variational Omni MSTR+0.0091%8h163.69+0.046%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.58−0.025%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.620.000%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.77+0.092%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.61−0.006%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.61−0.005%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0151%8h163.84+0.136%$83K$837K10xas long as short
Binance MSTRUSDT+0.0154%8h163.76+0.088%$86.0M$619.0M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.031%$1.4M$1.1M10xas long as short
edgeX MSTRUSDC+0.0190%4h163.81+0.113%$48K$5.3M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.64+0.011%$265K$445K10xas long as short
Nado MSTR-PERP+0.0240%1h163.53−0.054%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0255%1h163.75+0.079%$54.5M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.620.000%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0312%8h163.79+0.104%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78+0.098%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0667%1h163.66+0.024%$278K$438K10xas long as short