Settings8H · net · $10k
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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 06:00 UTC+0.0265%/8h= +29.0% APRpaid last 24h +0.026%
Price spread now: Bybit against QFEX+0.116%7-day average +0.048% · 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−$25as in the Price arb table
costs, in and out, $10k−$320.317% of the position
Long on QFEXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.150%+$15 on $10k
Price spread, last 7 days−0.106%−$11 · spread now +0.116%, 7d avg +0.048%
Together, before fees+0.044%+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bybit is 0.068% dearer against QFEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.048%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX MSTR-USD163.610.0054pay 0.0007% / 1h57m 14s$1.4M$7.2M10x
ShortBybit MSTRUSDT163.800.0318get 0.0318% / 8h2h 57m$16.6M$41.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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
$55.64
Price spread: +0.116% → +0.048%
$6.8
Slippage, 4 orders
−$10.68
Fee QFEX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$30.76
Costs to cover
0.317%
Break-even
3.1 days
Slippage from QFEX: live order book, 7 min ago; Bybit: live order book, 2 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, 7 min ago1.83 bp6.8 bp −$78.6 bp −$86doesn't fitdoesn't fit
Sell Bybit live order book, 2 min ago0.61 bp9.9 bp −$1014.9 bp −$149116.2 bp −$11.6Kdoesn'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 MSTRUSDT−0.0987%8h163.90+0.177%$27.1M$116.8M25xas long as short
Aster MSTRUSDT0.0000%8h163.75+0.088%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.82+0.128%$4.6M$19.1M50xas long as short
Phemex MSTRUSDT0.0000%4h164.00+0.238%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.57−0.024%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.502%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.71+0.061%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.38−0.141%—$1.7M25xas long as short
OKX MSTR-USDT-SWAP+0.0047%8h163.76+0.092%$20.7M$99.1M50xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.65+0.024%$379K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0050%1h163.62+0.006%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.45−0.098%$817K$3.9M10xas long as short
QFEX MSTR-USDlong+0.0054%1h163.61long leg$1.4M$7.2M10x
Paradex MSTR-USD-PERP+0.0083%8h163.610.000%$65—5xas long as short
RISEx MSTR/USDC+0.0088%1h163.70+0.054%$265K$446K10xas long as short
Variational Omni MSTR+0.0089%8h163.65+0.022%$1.2M$2.1M—as long as short
Lighter MSTR+0.0096%1h163.70+0.055%$3.5M$1.9M10xas long as short
Pacifica MSTR+0.0100%1h163.61−0.002%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.64+0.018%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.44−0.104%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.71+0.061%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.75+0.083%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0148%8h163.74+0.078%$83K$824K10xas long as short
Binance MSTRUSDT+0.0158%8h163.79+0.110%$85.9M$619.1M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.024%$1.4M$1.1M10xas long as short
edgeX MSTRUSDC+0.0248%4h163.64+0.017%$48K$5.4M10xas long as short
BloFin MSTR-USDT+0.0278%8h163.79+0.110%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0294%1h163.45−0.096%$121K$148K3xas long as short
Bybit MSTRUSDTshort+0.0318%8h163.80+0.116%$16.6M$41.2M50x
Phoenix MSTR+0.0340%1h163.63+0.010%$56K$226K10xas long as short
tradeXYZ xyz:MSTR+0.0354%1h163.72+0.067%$54.5M$37.1M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1095%1h163.82+0.128%$279K$438K10xas long as short