Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.009%

Price spread now: Paradex against Coinbase International+0.001%7-day average — · you sell dearer than you buy

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

Long on Coinbase International 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: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	164.21	0.0168	pay 0.0021% / 1h	44m 10s	$1.4M	$1.1M	10x
Short	Paradex MSTR-USD-PERP	164.21	0.0137	get 0.0137% / 8h	3h 44m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$6.45
Price spread: +0.001% → 0.000%: $0.15
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$20.31
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago	4.56 bp	10.2 bp −$10	13.7 bp −$137	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	−0.0882%	8h	164.42	+0.128%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.29	+0.051%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.34	+0.079%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.26	+0.030%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.09	−0.073%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.124%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAP	+0.0036%	8h	164.28	+0.043%	$20.7M	$99.5M	50x	as long as short
edgeX MSTRUSDC	+0.0038%	4h	164.50	+0.174%	$49K	$5.3M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.48	+0.164%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.15	−0.037%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.24	+0.018%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.24	+0.018%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.27	+0.037%	$855K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.27	+0.037%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.23	+0.012%	$3.5M	$1.9M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.22	+0.004%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.24	+0.018%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.39	+0.110%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.24	+0.018%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	+0.144%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.27	+0.037%	$136	—	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0137%	8h	164.21	+0.001%	$66	—	5x
Binance MSTRUSDT	+0.0160%	8h	164.27	+0.037%	$86.8M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0168%	1h	164.21	long leg	$1.4M	$1.1M	10x
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	+0.116%	$75K	$803K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.32	+0.070%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0244%	1h	164.21	0.000%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	164.13	−0.051%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0281%	8h	164.36	+0.091%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0335%	8h	164.27	+0.037%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.196%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0847%	1h	164.29	+0.049%	$279K	$438K	10x	as long as short