MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0015%/8h= +1.6% APRnext payment +$0.02 per $10,000 · paid last 24h +0.012%

Price spread now: Polymarket Perps against QFEX−0.118%7-day average −0.028% · 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−$40as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on QFEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.176%+$18 on $10k

Price spread, last 7 days+0.145%+$15 · spread now −0.118%, 7d avg −0.028%

Together, before fees+0.321%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.090% cheaper against QFEX than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of −0.028%). If the spread goes back, that is −$9 on $10k: about 20 days of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.176% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	169.85	0.0035	pay 0.0004% / 1h	56m 53s	$1.5M	$10.2M	10x
Short	Polymarket Perps MSTR-USD	169.65	0.0050	get 0.0006% / 1h	56m 53s	$400K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.118%Rate

Funding earned: $3.07
Price spread: −0.118% → −0.028%: −$8.96
Slippage, 4 orders: −$12.76
Fee QFEX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$36.64
Costs to cover: 0.308%
Break-even: 90.4 days

Slippage from QFEX: live order book, 7 min ago; Polymarket Perps: live order book, 2 min ago.

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, 7 min ago	1.48 bp	6.5 bp −$6	8.0 bp −$80	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	3.54 bp	7.8 bp −$8	9.2 bp −$92	12.5 bp −$1,248	doesn't fit

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	−0.0116%	1h	169.83	−0.011%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.56	−0.170%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.63	−0.130%	$22.0M	$104.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.63	−0.130%	$4.7M	$18.8M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.44	−0.240%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.66	−0.112%	$2.9M	$66K	10x	as long as short
Bitget MSTRUSDT	+0.0031%	8h	169.56	−0.171%	$28.7M	$116.5M	25x	as long as short
Lighter MSTR	+0.0032%	1h	169.72	−0.077%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	−0.220%	$581K	$1.7M	10x	as long as short
QFEX MSTR-USDlong	+0.0035%	1h	169.85	long leg	$1.5M	$10.2M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus MSTR-USD	+0.0040%	1h	169.64	−0.124%	$27K	$123K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	170.06	+0.124%	—	$2.1M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.55	−0.176%	$77K	$871K	10x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	169.65	−0.118%	$400K	$2.7M	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	−0.071%	$764K	$5.2M	10x	as long as short
BloFin MSTR-USDT	+0.0057%	8h	169.81	−0.024%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0070%	8h	169.67	−0.106%	$89.6M	$625.5M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.648%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0094%	8h	169.77	−0.048%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.82	−0.015%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.55	−0.177%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.29	−0.330%	$4K	$223K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.80	−0.029%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	−0.160%	$141	—	10x	as long as short
Bybit MSTRUSDT	+0.0136%	8h	169.72	−0.077%	$15.2M	$40.0M	50x	as long as short
SoDEX MSTR-USD	+0.0197%	1h	169.77	−0.047%	$45K	$3K	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.49	−0.212%	$13K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.47	−0.222%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.88	+0.021%	$277K	$440K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0356%	1h	169.56	−0.171%	$57.2M	$37.0M	10x	as long as short
edgeX MSTRUSDC	+0.0365%	4h	169.54	−0.182%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0457%	1h	169.79	−0.035%	$289K	$438K	10x	as long as short