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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h +0.020%
Price spread now: Gate against QFEX+0.110%7-day average +0.060% · 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−$38as in the Price arb table
costs, in and out, $10k−$430.429% of the position
Long on QFEXShort on Gate
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.246%+$25 on $10k
Price spread, last 7 days−0.043%−$4 · spread now +0.110%, 7d avg +0.060%
Together, before fees+0.203%+$20 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.050% dearer against QFEX than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.060%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.1 days. Mind the row above: over the last 4 days funding on this pair paid +0.246%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX MSTR-USD163.710.0054pay 0.0007% / 1h49m 21s$1.4M$7.2M10x
ShortGate MSTR_USDT163.890get 0.0000% / 8h2h 49m$4.6M$19.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against QFEX. 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

Funding earned
−$11.24
Price spread: +0.110% → +0.060%
$5.04
Slippage, 4 orders
−$17.92
Fee QFEX: 5 bp × 2 orders
−$10
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$49.12
Costs to cover
0.429%
Break-even
never at this rate
Slippage from QFEX: live order book, 5 min ago; Gate: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 5 min ago1.53 bp6.5 bp −$78.5 bp −$85doesn't fitdoesn't fit
Sell Gate live order book, 4 min ago2.14 bp18.0 bp −$1837.3 bp −$373doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0973%8h163.93+0.134%$27.0M$117.0M25xas long as short
Aster MSTRUSDT0.0000%8h163.76+0.029%$1.8M$8.6M50xas long as short
Gate MSTR_USDTshort0.0000%8h163.89+0.110%$4.6M$19.2M50x
Phemex MSTRUSDT0.0000%4h164.01+0.183%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.56−0.089%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.439%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.85+0.086%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.48−0.140%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.69−0.012%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.77+0.037%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.710.000%$830K$3.9M10xas long as short
QFEX MSTR-USDlong+0.0054%1h163.71long leg$1.4M$7.2M10x
OKX MSTR-USDT-SWAP+0.0063%8h163.83+0.073%$20.6M$99.7M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.77+0.037%$266K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.74+0.019%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.66−0.031%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.69−0.012%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.74+0.018%$4K$8K10xas long as short
Variational Omni MSTR+0.0103%8h163.88+0.102%$1.2M$2.1M—as long as short
Aevo MSTR-PERP+0.0104%1h163.76+0.033%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0111%8h163.71−0.001%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0168%8h163.91+0.122%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.086%$1.4M$1.1M10xas long as short
Binance MSTRUSDT+0.0171%8h163.72+0.008%$85.7M$619.5M50xas long as short
Lighter MSTR+0.0224%1h163.72+0.006%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0287%8h163.93+0.134%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0333%8h163.84+0.079%$16.7M$41.2M50xas long as short
Nado MSTR-PERP+0.0342%1h163.60−0.065%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0349%1h163.72+0.006%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.90+0.116%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0496%4h163.67−0.026%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0973%1h163.74+0.018%$278K$438K10xas long as short