MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%

Price spread now: Ondo Perps against QFEX−0.162%7-day average −0.038% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.176%+$18 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.162%, 7d avg −0.038%

Together, before fees+0.198%+ Points / potential airdropOndo Perps: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Ondo Perps is 0.124% cheaper against QFEX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.038%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.176%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	166.83	0.0061	pay 0.0008% / 1h	0m 54s	$1.3M	$6.8M	10x
Short	Ondo Perps MSTR-USD.P	166.56	0.0050	get 0.0006% / 1h	0m 54s	$926K	$3.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$2.3
Price spread: −0.162% → −0.038%: −$12.41
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$29.71
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 8 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 8 min ago	2.39 bp	7.4 bp −$7	7.4 bp −$74	15.0 bp −$1,495	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate MSTR_USDT	0.0000%	8h	166.68	−0.090%	$4.9M	$19.3M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.60	−0.138%	$31.3M	$113.5M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.62	−0.126%	$2.8M	$83K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.48	−0.211%	$542K	$1.8M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−2.530%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.87	+0.024%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.96	+0.078%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.64	−0.114%	$385K	$2.5M	10x	as long as short
Ondo Perps MSTR-USD.Pshort	+0.0050%	1h	166.56	−0.162%	$926K	$3.5M	10x
QFEX MSTR-USDlong	+0.0061%	1h	166.83	long leg	$1.3M	$6.8M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	166.76	−0.043%	$102K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.61	−0.132%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.85	+0.012%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.72	−0.066%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.67	−0.094%	$138	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	166.72	−0.066%	$1.4M	$644K	10x	as long as short
Lighter MSTR	+0.0160%	1h	166.60	−0.138%	$3.5M	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0178%	1h	166.69	−0.085%	$128K	$143K	3x	as long as short
Paradex MSTR-USD-PERP	+0.0190%	8h	166.75	−0.046%	$67	—	5x	as long as short
Aster MSTRUSDT	+0.0193%	8h	166.67	−0.096%	$1.8M	$8.6M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0278%	8h	166.65	−0.108%	$21.6M	$92.7M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	167.24	+0.244%	$1.2M	$1.8M	—	as long as short
tradeXYZ xyz:MSTR	+0.0361%	1h	166.55	−0.168%	$55.0M	$36.2M	10x	as long as short
Binance MSTRUSDT	+0.0386%	8h	166.64	−0.114%	$87.1M	$590.3M	50x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	166.91	+0.048%	$272K	$387K	10x	as long as short
Phoenix MSTR	+0.0460%	1h	166.84	+0.009%	$57K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0506%	8h	166.61	−0.132%	$1.1M	$2.1M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0531%	1h	166.59	−0.144%	$283K	$289K	10x	as long as short
Bybit MSTRUSDT	+0.0570%	8h	166.68	−0.090%	$17.2M	$40.3M	50x	as long as short
edgeX MSTRUSDC	+0.0670%	4h	167.12	+0.175%	$49K	$5.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0727%	8h	167.11	+0.168%	$82K	$844K	10x	as long as short
SoDEX MSTR-USD	+0.1193%	1h	166.63	−0.120%	$44K	$3K	10x	as long as short