Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0147%/8h= −16.1% APRpaid last 24h −0.085%

Price spread now: Paradex against RISEx+0.006%7-day average — · you sell dearer than you buy

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

Long on RISEx Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	165.16	0.0291	pay 0.0036% / 1h	30m 16s	$270K	$447K	10x
Short	Paradex MSTR-USD-PERP	165.17	0.0145	get 0.0145% / 8h	5h 30m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against RISEx. 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 RISExbpFee ParadexbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$30.79
Price spread: +0.006% → 0.000%: $0.6
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$40.19
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 33 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 RISEx live order book, 33 min ago	1.52 bp	4.5 bp −$5	5.3 bp −$53	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
Bitget MSTRUSDT	−0.1223%	8h	165.24	+0.048%	$27.8M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.13	−0.019%	$1.9M	$8.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.18	+0.012%	$20.8M	$100.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.24	+0.048%	$4.6M	$18.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.13	−0.018%	$2.8M	$71K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.14	−0.012%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.04	−0.070%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.531%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0034%	8h	165.14	−0.011%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.90	−0.157%	$27K	$112K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.18	+0.012%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.12	−0.024%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.35	−0.490%	$868K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.13	−0.018%	$1.4M	$7.6M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0069%	1h	165.07	−0.054%	$55.0M	$36.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.10	−0.034%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.14	−0.012%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.51	−0.394%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.16	0.000%	$3K	$8K	10x	as long as short
Binance MSTRUSDT	+0.0101%	8h	165.15	−0.006%	$88.5M	$618.7M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.14	−0.011%	$137	—	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0145%	8h	165.17	+0.006%	$66	—	5x
SoDEX MSTR-USD	+0.0150%	1h	165.10	−0.036%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0169%	8h	164.79	−0.227%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.648%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0219%	8h	165.30	+0.085%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0220%	1h	165.13	−0.020%	$122K	$150K	3x	as long as short
edgeX MSTRUSDC	+0.0277%	4h	164.71	−0.273%	$49K	$5.4M	10x	as long as short
RISEx MSTR/USDClong	+0.0291%	1h	165.16	long leg	$270K	$447K	10x
Phoenix MSTR	+0.0336%	1h	164.64	−0.313%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0347%	8h	165.27	+0.067%	$17.2M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0477%	1h	165.19	+0.018%	$281K	$438K	10x	as long as short