Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.083%

Price spread now: RISEx against Paradex+0.039%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 RISEx

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 pays, funding is against you. RISEx is 0.039% dearer against Paradex than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSTR-USD-PERP	164.37	0.0134	pay 0.0134% / 8h	4h 08m	$66	—	5x
Short	RISEx MSTR/USDC	164.43	0.0034	get 0.0004% / 1h	8m 24s	$267K	$448K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$20.92
Price spread: +0.039% → 0.000%: $3.93
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$26.99
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; RISEx: live order book, 50 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 RISEx live order book, 50 min ago	0.61 bp	5.4 bp −$5	6.7 bp −$67	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
Bitget MSTRUSDT	−0.0935%	8h	164.56	+0.117%	$27.8M	$115.1M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.41	+0.024%	$1.8M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.45	+0.050%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.51	+0.086%	$2.8M	$74K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0013%	8h	164.45	+0.050%	$20.6M	$99.4M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.34	−0.017%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.29	−0.045%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.025%	$8K	$26K	30x	as long as short
RISEx MSTR/USDCshort	+0.0034%	1h	164.43	+0.039%	$267K	$448K	10x
Arcus MSTR-USD	+0.0040%	1h	164.60	+0.141%	$26K	$109K	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	164.34	−0.017%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.34	−0.017%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.48	+0.068%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.24	−0.078%	$856K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.45	+0.050%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0080%	8h	164.56	+0.119%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.39	+0.011%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.33	−0.023%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.43	+0.037%	$6K	$186K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.55	+0.110%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.54	+0.105%	$137	—	10x	as long as short
Paradex MSTR-USD-PERPlong	+0.0134%	8h	164.37	long leg	$66	—	5x
Binance MSTRUSDT	+0.0145%	8h	164.39	+0.013%	$87.3M	$615.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0160%	8h	164.58	+0.127%	$76K	$780K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.151%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.54	+0.104%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0226%	1h	164.37	+0.001%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0240%	1h	164.28	−0.053%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0265%	8h	164.73	+0.220%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0346%	8h	164.47	+0.062%	$16.9M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0906%	1h	164.54	+0.104%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0908%	4h	164.55	+0.111%	$49K	$5.4M	10x	as long as short