MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0140%/8h= −15.4% APRnext payment −$0.18 per $10,000 · paid last 24h −0.005%

Price spread now: QFEX against Coinbase International+0.542%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$19as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Coinbase International Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.148%−$15 on $10k

Price spread, last 4 days (all we have)−0.302%−$30 · spread now +0.542%, 7d avg +0.068%

Together, before fees−0.450%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.474% dearer against Coinbase International than usual: you sell high and buy low (spread +0.542% now, against its 7-day average of +0.068%): +$47 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	164.09	0.0200	pay 0.0025% / 1h	27m 12s	$1.4M	$1.1M	10x
Short	QFEX MSTR-USD	164.98	0.0060	get 0.0007% / 1h	27m 12s	$1.4M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.542%Rate

Funding earned: −$29.5
Price spread: +0.542% → +0.068%: $47.43
Slippage, 4 orders: −$8.28
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$10.35
Costs to cover: 0.283%
Break-even: from the start

Slippage from Coinbase International: live order book, 1 min ago; QFEX: live order book, 7 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 Coinbase International live order book, 1 min ago	2.42 bp	7.8 bp −$8	15.0 bp −$150	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.52 bp	6.5 bp −$7	7.9 bp −$79	14.5 bp −$1,455	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
Bitget MSTRUSDT	−0.1175%	8h	165.01	+0.561%	$27.7M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.95	+0.525%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.95	+0.524%	$20.7M	$99.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.01	+0.561%	$4.6M	$18.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.03	+0.573%	$2.8M	$71K	10x	as long as short
Lighter MSTR	+0.0032%	1h	164.85	+0.463%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.63	+0.326%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.199%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0034%	8h	165.14	+0.641%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.10	+0.616%	$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	165.07	+0.597%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.93	+0.512%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.94	+0.518%	$868K	$4.2M	10x	as long as short
QFEX MSTR-USDshort	+0.0060%	1h	164.98	+0.542%	$1.4M	$7.6M	10x
tradeXYZ xyz:MSTR	+0.0061%	1h	164.87	+0.475%	$54.9M	$36.8M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.92	+0.504%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.96	+0.530%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.15	+0.646%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.95	+0.524%	$3K	$8K	10x	as long as short
Binance MSTRUSDT	+0.0101%	8h	164.93	+0.514%	$88.4M	$618.2M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.92	+0.508%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0139%	8h	164.97	+0.536%	$66	—	5x	as long as short
SoDEX MSTR-USD	+0.0153%	1h	164.92	+0.506%	$43K	$3K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0167%	8h	165.20	+0.676%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0200%	1h	164.09	long leg	$1.4M	$1.1M	10x
Nado MSTR-PERP	+0.0217%	1h	164.90	+0.496%	$122K	$150K	3x	as long as short
BloFin MSTR-USDT	+0.0221%	8h	165.00	+0.555%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.03	+0.570%	$270K	$447K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0296%	1h	164.98	+0.542%	$281K	$438K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.09	+0.610%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0338%	8h	164.96	+0.530%	$17.2M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0473%	4h	165.16	+0.653%	$50K	$5.4M	10x	as long as short