Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.017%

Price spread now: QFEX against Paradex+0.005%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 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: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	165.93	0.0116	pay 0.0116% / 8h	6h 58m	$66	—	5x
Short	QFEX MSTR-USD	165.94	0.0064	get 0.0008% / 1h	58m 35s	$1.4M	$8.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Paradex. 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 ParadexbpFee QFEXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$10.8
Price spread: +0.005% → 0.000%: $0.48
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$24.33
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; QFEX: live order book, 10 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell QFEX live order book, 10 min ago	1.50 bp	6.5 bp −$6	9.2 bp −$92	doesn't fit	doesn't fit

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
Gate MSTR_USDT	−0.0264%	8h	166.07	+0.083%	$4.6M	$18.6M	50x	as long as short
BloFin MSTR-USDT	−0.0020%	8h	166.27	+0.204%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.95	+0.013%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	165.82	−0.068%	$87.4M	$617.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.00	+0.041%	$21.2M	$100.0M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	165.90	−0.016%	$272K	$436K	10x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.12	+0.113%	$27.3M	$114.2M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	166.01	+0.045%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	166.06	+0.077%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.24	+0.186%	$2.8M	$67K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.81	−0.077%	$575K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.28	+0.210%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.96	+0.017%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.01	+0.047%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.83	−0.062%	$768K	$4.8M	10x	as long as short
Lighter MSTR	+0.0056%	1h	165.89	−0.025%	$3.5M	$1.9M	10x	as long as short
QFEX MSTR-USDshort	+0.0064%	1h	165.94	+0.005%	$1.4M	$8.5M	10x
Nado MSTR-PERP	+0.0080%	1h	166.02	+0.054%	$135K	$129K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0084%	1h	165.95	+0.011%	$55.9M	$36.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.99	+0.033%	$103K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.91	−0.013%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.29	+0.216%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.01	+0.047%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.07	+0.083%	$138	—	10x	as long as short
Paradex MSTR-USD-PERPlong	+0.0116%	8h	165.93	long leg	$66	—	5x
Polymarket Perps MSTR-USD	+0.0152%	1h	166.08	+0.089%	$390K	$2.7M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.95	+0.011%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0259%	1h	166.44	+0.308%	$56K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0304%	8h	166.08	+0.089%	$16.6M	$40.4M	50x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.054%	$8K	$26K	30x	as long as short
edgeX MSTRUSDC	+0.0663%	4h	166.58	+0.390%	$43K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1316%	1h	166.28	+0.210%	$283K	$438K	10x	as long as short