Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0058%/8h= +6.3% APRpaid last 24h +0.089%

Price spread now: Paradex against QFEX+0.025%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 0.025% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	169.18	0.0035	pay 0.0004% / 1h	54m 19s	$1.5M	$10.1M	10x
Short	Paradex MSTR-USD-PERP	169.22	0.0093	get 0.0093% / 8h	7h 54m	$68	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.025%Rate

Funding earned: $12.1
Price spread: +0.025% → 0.000%: $2.53
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $0.63
Costs to cover: 0.140%
Break-even: 6.6 days

Slippage unknown: QFEX: live order book, 10 min ago; Paradex: 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, 10 min ago	1.48 bp	6.5 bp −$6	8.0 bp −$80	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Nado MSTR-PERP	−0.0090%	1h	169.20	+0.013%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.21	+0.020%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.27	+0.053%	$15.2M	$39.8M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.30	+0.071%	$21.9M	$104.2M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.27	+0.053%	$4.7M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.20	+0.012%	$2.9M	$66K	10x	as long as short
Variational Omni MSTR	+0.0002%	8h	169.63	+0.267%	$1.2M	$2.4M	—	as long as short
Bitget MSTRUSDT	+0.0025%	8h	169.30	+0.071%	$28.6M	$115.4M	25x	as long as short
Lighter MSTR	+0.0032%	1h	169.19	+0.006%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.12	−0.035%	$581K	$1.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USDlong	+0.0035%	1h	169.18	long leg	$1.5M	$10.1M	10x
Arcus MSTR-USD	+0.0040%	1h	169.56	+0.225%	$27K	$121K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.40	+0.130%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.11	−0.041%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.30	+0.071%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	+0.325%	$765K	$5.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0054%	1h	169.13	−0.030%	$57.1M	$35.4M	10x	as long as short
Binance MSTRUSDT	+0.0074%	8h	169.30	+0.070%	$89.4M	$622.9M	50x	as long as short
BloFin MSTR-USDT	+0.0080%	8h	169.12	−0.035%	$1.1M	$1.9M	20x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.254%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0093%	8h	169.22	+0.025%	$68	—	5x
Pacifica MSTR	+0.0100%	1h	169.25	+0.044%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.18	0.000%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.62	+0.260%	$4K	$207K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.25	+0.041%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.33	+0.087%	$141	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.49	+0.183%	$8K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.47	+0.173%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.25	+0.044%	$276K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0567%	4h	169.82	+0.377%	$48K	$5.5M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0570%	8h	169.80	+0.366%	$78K	$871K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0578%	1h	169.31	+0.077%	$288K	$438K	10x	as long as short