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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h −0.023%
Price spread now: QFEX against SoDEX+0.025%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on SoDEXShort 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—needs both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.025% dearer against SoDEX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX MSTR-USD163.030.0050pay 0.0006% / 1h7m 47s$43K$3K10x
ShortQFEX MSTR-USD163.070.0067get 0.0008% / 1h7m 47s$1.3M$7.1M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX against SoDEX. 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
$3.53
Price spread: +0.025% → 0.000%
$2.45
Slippage, 4 orders
no order book: not counted
Fee SoDEX: 4 bp × 2 orders
−$8
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$12.02
Costs to cover
0.180%
Break-even
30.8 days
Slippage unknown: SoDEX: no order-book sample; QFEX: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SoDEX no order-book sample—————
Sell QFEX live order book, 6 min ago1.23 bp6.2 bp −$68.5 bp −$85doesn't fitdoesn't fit
SoDEX: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0441%8h163.16+0.080%$29.4M$119.2M25xas long as short
Gate MSTR_USDT0.0000%8h163.06+0.018%$4.7M$19.6M50xas long as short
Phemex MSTRUSDT0.0000%4h163.07+0.025%$2.7M$84K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h162.84−0.117%$589K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.870%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.17+0.086%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h162.91−0.074%—$1.8M25xas long as short
Lighter MSTR+0.0048%1h163.00−0.018%$3.5M$2.0M10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.02−0.006%$377K$2.7M10xas long as short
SoDEX MSTR-USDlong+0.0050%1h163.03long leg$43K$3K10x
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.93−0.061%$888K$3.7M10xas long as short
QFEX MSTR-USDshort+0.0067%1h163.07+0.025%$1.3M$7.1M10x
Aster MSTRUSDT+0.0074%8h162.95−0.047%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.13+0.059%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h162.95−0.049%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h162.94−0.055%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.06+0.018%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.05+0.012%$135—10xas long as short
Paradex MSTR-USD-PERP+0.0136%8h163.06+0.021%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h162.62−0.251%$1.4M$1.1M10xas long as short
Nado MSTR-PERP+0.0172%1h162.94−0.057%$125K$165K3xas long as short
Variational Omni MSTR+0.0197%8h163.01−0.012%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0199%8h163.030.000%$20.8M$99.7M50xas long as short
GRVT MSTR_USDT_Perp+0.0266%8h163.09+0.035%$82K$859K10xas long as short
Binance MSTRUSDT+0.0268%8h162.97−0.037%$83.8M$620.3M50xas long as short
Phoenix MSTR+0.0357%1h163.17+0.085%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0389%8h163.26+0.141%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0402%8h163.00−0.018%$17.1M$41.7M50xas long as short
tradeXYZ xyz:MSTR+0.0432%1h163.02−0.006%$53.9M$37.7M10xas long as short
RISEx MSTR/USDC+0.0493%1h163.12+0.055%$268K$419K10xas long as short
edgeX MSTRUSDC+0.0541%4h163.03−0.001%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0671%1h163.07+0.025%$277K$437K10xas long as short