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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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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 06:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.017%
Price spread now: Phemex against QFEX+0.122%7-day average +0.032% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on QFEXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.023%−$2 on $10k
Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.122%, 7d avg +0.032%
Together, before fees−0.194%−$19 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.090% dearer against QFEX than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of +0.032%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days. At the pace of the last 4 days (−0.023% in total) that is about 15 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX MSTR-USD163.800.0054pay 0.0007% / 1h51m 44s$1.4M$7.2M10x
ShortPhemex MSTRUSDT164.000get 0.0000% / 4h2h 51m$2.8M$77K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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

Funding earned
−$11.24
Price spread: +0.122% → +0.032%
$9
Slippage, 4 orders
no order book: not counted
Fee QFEX: 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$24.24
Costs to cover
0.220%
Break-even
never at this rate
Slippage unknown: QFEX: live order book, 7 min ago; Phemex: live order book, 2 min ago. Net counts fees only.

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 Phemex live order book, 2 min ago1.22 bpdoesn't fitdoesn't fitdoesn'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%8h163.96+0.098%$27.1M$116.9M25xas long as short
Aster MSTRUSDT0.0000%8h163.77−0.016%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.86+0.037%$4.6M$19.2M50xas long as short
Phemex MSTRUSDTshort0.0000%4h164.00+0.122%$2.8M$77K10x
edgeX MSTRUSDC+0.0003%4h163.64−0.098%$48K$5.4M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.60−0.119%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.382%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.81+0.006%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.50−0.183%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.76−0.024%$379K$2.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.71−0.055%$830K$4.0M10xas long as short
QFEX MSTR-USDlong+0.0054%1h163.80long leg$1.4M$7.2M10x
SoDEX MSTR-USD+0.0058%1h163.800.000%$43K$3K10xas long as short
OKX MSTR-USDT-SWAP+0.0058%8h163.800.000%$20.6M$99.4M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.83+0.018%$266K$446K10xas long as short
Variational Omni MSTR+0.0094%8h163.78−0.011%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.71−0.057%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.69−0.067%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.61−0.116%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.77−0.018%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.81+0.005%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0105%8h163.74−0.039%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0153%8h163.82+0.012%$83K$824K10xas long as short
Binance MSTRUSDT+0.0167%8h163.73−0.043%$85.7M$619.6M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.140%$1.4M$1.1M10xas long as short
Lighter MSTR+0.0192%1h163.71−0.055%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0282%8h163.70−0.061%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0324%1h163.64−0.095%$121K$148K3xas long as short
Bybit MSTRUSDT+0.0329%8h163.82+0.012%$16.7M$41.2M50xas long as short
tradeXYZ xyz:MSTR+0.0349%1h163.77−0.018%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.066%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.1278%1h163.88+0.049%$279K$438K10xas long as short