MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0007%/8h= −0.8% APRnext payment −$0.01 per $10,000 · paid last 24h +0.026%

Price spread now: Extended against QFEX−0.146%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on QFEX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.141%+$14 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.146%, 7d avg −0.041%

Together, before fees+0.253%+ Points / potential airdropExtended: Active · farm board+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.105% cheaper against QFEX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	169.65	0.0039	pay 0.0005% / 1h	22m 47s	$1.5M	$10.2M	10x
Short	Extended MSTR_24_5-USD	169.40	0.0032	get 0.0004% / 1h	22m 47s	$588K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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

Position, each leg$Hold fordaysFee QFEXbpFee ExtendedbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$1.48
Price spread: −0.146% → −0.041%: −$10.55
Slippage, 4 orders: −$15.49
Fee QFEX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$42.52
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; Extended: live order book, 6 min ago.

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 QFEX live order book, 6 min ago	2.36 bp	7.4 bp −$7	8.3 bp −$83	13.4 bp −$1,339	doesn't fit
Sell Extended live order book, 6 min ago	3.84 bp	7.3 bp −$7	22.8 bp −$228	doesn't fit	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	−0.0070%	1h	169.50	−0.088%	$140K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0002%	8h	169.62	−0.018%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.52	−0.079%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.59	−0.036%	$88.8M	$629.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.61	−0.024%	$22.1M	$107.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.65	+0.002%	$297K	$436K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.55	−0.059%	$4.8M	$19.6M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.58	−0.042%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.44	−0.123%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.58	−0.041%	$2.9M	$57K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.53	−0.071%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	169.40	−0.146%	$588K	$1.9M	10x
QFEX MSTR-USDlong	+0.0039%	1h	169.65	long leg	$1.5M	$10.2M	10x
Vest MSTR-USD-PERP	+0.0046%	1h	169.77	+0.071%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.318%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.50	−0.088%	$56.7M	$38.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.66	+0.006%	$413K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.60	−0.029%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.59	−0.035%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0073%	8h	169.57	−0.047%	$28.9M	$119.8M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0078%	8h	169.54	−0.063%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0099%	8h	169.60	−0.029%	$15.2M	$41.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.54	−0.064%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.41	−0.141%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.37	−0.165%	$4K	$934K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.60	−0.029%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.041%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.44	−0.125%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0387%	4h	169.35	−0.175%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.69	+0.024%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.324%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0753%	1h	169.70	+0.029%	$288K	$438K	10x	as long as short