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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+0.0284%/8h= +31.1% APRnext payment +$0.36 per $10,000 · paid last 24h +0.020%
Price spread now: Nado against QFEX−0.027%7-day average −0.004% · 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−$72as in the Price arb table
costs, in and out, $10k−$700.702% of the position
Long on QFEXShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.024%−$2 on $10k
Price spread, last 4 days (all we have)+0.304%+$30 · spread now −0.027%, 7d avg −0.004%
Together, before fees+0.280%+ Points / potential airdropNado: Active · farm board+$28 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.023% cheaper against QFEX than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of −0.004%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day).
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.024% in total (about -2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.36 per $10,000. 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-USD163.700.0054pay 0.0007% / 1h51m 34s$1.4M$7.2M10x
ShortNado MSTR-PERP163.660.0338get 0.0042% / 1h51m 34s$121K$148K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado 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
$59.65
Price spread: −0.027% → −0.004%
−$2.29
Slippage, 4 orders
−$53.17
Fee QFEX: 5 bp × 2 orders
−$10
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$12.81
Costs to cover
0.702%
Break-even
8.5 days
Slippage from QFEX: live order book, 7 min ago; Nado: live order book, 61 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 ago1.53 bp6.5 bp −$79.0 bp −$90doesn't fitdoesn't fit
Sell Nado live order book, 61 min ago5.77 bp30.5 bp −$3182.2 bp −$822doesn't fitdoesn'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−0.0980%8h163.97+0.165%$27.1M$116.9M25xas long as short
Aster MSTRUSDT0.0000%8h163.81+0.064%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.86+0.098%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.00+0.183%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.60−0.058%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.445%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.81+0.067%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.54−0.098%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.75+0.031%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.71+0.006%$830K$4.0M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USDlong+0.0054%1h163.70long leg$1.4M$7.2M10x
SoDEX MSTR-USD+0.0058%1h163.80+0.061%$43K$3K10xas long as short
OKX MSTR-USDT-SWAP+0.0058%8h163.90+0.122%$20.6M$99.5M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.83+0.079%$266K$446K10xas long as short
Variational Omni MSTR+0.0094%8h163.78+0.050%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.71+0.004%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.69−0.006%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.59−0.067%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.77+0.043%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.81+0.067%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0105%8h163.74+0.022%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0160%8h163.86+0.098%$79K$838K10xas long as short
Binance MSTRUSDT+0.0167%8h163.84+0.085%$85.8M$619.6M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.079%$1.4M$1.1M10xas long as short
Lighter MSTR+0.0192%1h163.71+0.006%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0282%8h163.700.000%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0329%8h163.90+0.122%$16.7M$41.2M50xas long as short
Nado MSTR-PERPshort+0.0338%1h163.66−0.027%$121K$148K3x
tradeXYZ xyz:MSTR+0.0350%1h163.83+0.079%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.005%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0496%4h163.67−0.020%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1278%1h163.88+0.110%$279K$438K10xas long as short