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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.033%
Price spread now: OKX against QFEX+0.049%7-day average +0.052% · 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−$250.250% of the position
Long on QFEXShort on OKX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.040%+$4 on $10k
Price spread, last 7 days+0.010%+$1 · spread now +0.049%, 7d avg +0.052%
Together, before fees+0.051%+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX MSTR-USD163.500.0057pay 0.0007% / 1h57m 30s$1.3M$7.3M10x
ShortOKX MSTR-USDT-SWAP163.580.0120get 0.0120% / 8h1h 57m$20.8M$100.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX 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
$13.28
Price spread: +0.049% → +0.052%
−$0.33
Slippage, 4 orders
−$5.05
Fee QFEX: 5 bp × 2 orders
−$10
Fee OKX: 5 bp × 2 orders
−$10
Net
−$12.1
Costs to cover
0.250%
Break-even
13.4 days
Slippage from QFEX: live order book, 6 min ago; OKX: 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 ago1.22 bp6.2 bp −$67.4 bp −$74doesn't fitdoesn't fit
Sell OKX live order book, 1 min ago0.31 bp6.3 bp −$612.7 bp −$12775.7 bp −$7,565doesn'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−0.0915%8h163.69+0.116%$28.7M$119.2M25xas long as short
Gate MSTR_USDT0.0000%8h163.60+0.061%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37−0.080%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0015%8h163.42−0.050%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.34−0.098%$511K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.572%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.72+0.135%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0043%1h163.51+0.006%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.58+0.049%$378K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.57+0.043%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.48−0.012%$845K$3.9M10xas long as short
QFEX MSTR-USDlong+0.0057%1h163.50long leg$1.3M$7.3M10x
Pacifica MSTR+0.0100%1h163.47−0.021%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.62+0.073%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.66+0.098%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.60+0.061%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.59+0.056%$136—10xas long as short
OKX MSTR-USDT-SWAPshort+0.0120%8h163.58+0.049%$20.8M$100.9M50x
Lighter MSTR+0.0136%1h163.57+0.043%$3.5M$2.0M10xas long as short
Variational Omni MSTR+0.0141%8h163.71+0.131%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0141%8h163.56+0.036%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.211%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0211%1h163.51+0.006%$54.2M$37.5M10xas long as short
Binance MSTRUSDT+0.0216%8h163.57+0.043%$83.9M$629.0M50xas long as short
GRVT MSTR_USDT_Perp+0.0226%8h163.78+0.172%$83K$865K10xas long as short
BloFin MSTR-USDT+0.0332%8h163.500.000%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0362%1h163.73+0.143%$56K$219K10xas long as short
Nado MSTR-PERP+0.0371%1h163.48−0.014%$131K$157K3xas long as short
Bybit MSTRUSDT+0.0373%8h163.55+0.031%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.53+0.015%$263K$437K10xas long as short
edgeX MSTRUSDC+0.0458%4h163.50+0.002%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1218%1h163.71+0.128%$278K$438K10xas long as short