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Funding arb /

MSTR

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Funding spread now, next payment 15:00 UTC+0.0497%/8h
next payment, per $10,000+$0.62paid, last 24h−0.069%paid, last 3 days−0.224%to open and close $10k−$67
Long on InjectiveShort on QFEX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective MSTR/USDC PERP165.09−0.0440get 0.0055% / 1h38m 39s$12K$103K30x
ShortQFEX MSTR-USD165.080.0057get 0.0007% / 1h38m 39s$1.3M$8.9M10x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
$104.43
Slippage, 4 orders
−$56.79
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee QFEX: 5 bp × 2 orders
−$10
Net
$37.62
Break-even
4.5 days
Slippage from Injective: live order book, 12 min ago; QFEX: live order book, 7 min ago.

Price risk

price view
Price gap now
−0.006%
Avg gap 7d
+0.360%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 12 min ago20.53 bp33.3 bp −$3333.8 bp −$33856210.4 bp −$5.62M321051.8 bp −$160.53M
Sell QFEX live order book, 7 min ago1.51 bp6.5 bp −$77.4 bp −$7412.2 bp −$1,222doesn't fit

MSTR on 31 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Injective MSTR/USDC PERPlong−0.0440%1h$12K$103K30x
Gate MSTR_USDT0.0000%8h$4.9M$18.4M50xas long as short
Phemex MSTRUSDT0.0000%4h$2.8M$30K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h$489K$2.2M10xas long as short
Vest MSTR-USD-PERP+0.0046%1h—$1.3M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h$418K$1.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h$838K$4.3M10xas long as short
QFEX MSTR-USDshort+0.0057%1h$1.3M$8.9M10x
Nado MSTR-PERP+0.0059%1h$155K$249K3xas long as short
Show all 31 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Pacifica MSTR+0.0100%1h$101K$176K10xas long as short
ApeX Omni MSTRUSDT+0.0100%1h$131K$2.4M50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h$3K$14K10xas long as short
Aevo MSTR-PERP+0.0104%1h$137—10xas long as short
Paradex MSTR-USD-PERP+0.0117%8h$66—5xas long as short
KuCoin MSTRUSDTM+0.0119%8h$3.2M$2.1M20xas long as short
Lighter MSTR+0.0144%1h$3.5M$2.9M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0160%1h$1.5M$1.2M10xas long as short
tradeXYZ xyz:MSTR+0.0162%1h$56.0M$29.4M10xas long as short
Bybit MSTRUSDT+0.0203%8h$15.7M$41.2M50xas long as short
Phoenix MSTR+0.0320%1h$54K$334K10xas long as short
Variational Omni MSTR+0.0364%8h$1.3M$2.1M—as long as short
OKX MSTR-USDT-SWAP+0.0374%8h$21.6M$94.9M50xas long as short
Bitget MSTRUSDT+0.0416%8h$28.6M$105.0M25xas long as short
Binance MSTRUSDT+0.0428%8h$85.5M$471.8M50xas long as short
Aster MSTRUSDT+0.0459%8h$1.7M$4.9M50xas long as short
BloFin MSTR-USDT+0.0558%8h$1.1M$1.4M20xas long as short
RISEx MSTR/USDC+0.0566%1h$192K$391K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0596%1h$281K$452K10xas long as short
edgeX MSTRUSDC+0.0870%4h$61K$4.1M10xas long as short
Arcus MSTR-USD+0.0991%1h$26K$123K10xas long as short