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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.024%
Price spread now: QFEX against Variational Omni−0.022%47s7-day average −0.069% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.041%−$4 on $10k
Price spread, last 7 days−0.001%$0 · spread now −0.022%, 7d avg −0.069%
Together, before fees−0.042%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.047% dearer against Variational Omni than usual: you sell high and buy low (spread −0.022% now, against its 7-day average of −0.069%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni MSTR163.880.0103pay 0.0103% / 8h2h 49m$1.2M$2.1M—
ShortQFEX MSTR-USD163.840.0054get 0.0007% / 1h49m 46s$1.4M$7.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX against Variational Omni. 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
−$10.3
Price spread: −0.022% → −0.069%
$4.7
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$15.6
Costs to cover
0.100%
Break-even
never at this rate
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; QFEX: live order book, 4 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 Variational Omni RFQ quote, 4 min ago2.96 bpdoesn't fit15.3 bp −$153doesn't fitdoesn't fit
Sell QFEX live order book, 4 min ago1.53 bp6.5 bp −$78.3 bp −$8315.2 bp −$1,523doesn'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%8h163.89+0.008%$27.0M$117.0M25xas long as short
Aster MSTRUSDT0.0000%8h163.78−0.059%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.83−0.028%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.01+0.082%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.59−0.172%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.334%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.85−0.016%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.56−0.193%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.82−0.034%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.71−0.101%$830K$3.9M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USDshort+0.0054%1h163.84−0.022%$1.4M$7.2M10x
OKX MSTR-USDT-SWAP+0.0063%8h163.78−0.059%$20.6M$99.4M50xas long as short
SoDEX MSTR-USD+0.0071%1h163.71−0.101%$43K$3K10xas long as short
RISEx MSTR/USDC+0.0088%1h163.91+0.021%$266K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.74−0.083%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.66−0.132%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.59−0.175%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.78−0.059%$4K$8K10xas long as short
Variational Omni MSTRlong+0.0103%8h163.88long leg$1.2M$2.1M—
Aevo MSTR-PERP+0.0104%1h163.81−0.042%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0111%8h163.71−0.102%$65—5xas long as short
GRVT MSTR_USDT_Perp+0.0160%8h163.86−0.010%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.187%$1.4M$1.1M10xas long as short
Binance MSTRUSDT+0.0171%8h163.75−0.078%$85.7M$619.5M50xas long as short
Lighter MSTR+0.0224%1h163.72−0.095%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0287%8h163.93+0.033%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0333%8h163.84−0.022%$16.7M$41.2M50xas long as short
Nado MSTR-PERP+0.0343%1h163.70−0.111%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0349%1h163.73−0.089%$54.5M$37.1M10xas long as short
Phoenix MSTR+0.0362%1h163.69−0.112%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0496%4h163.67−0.128%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0972%1h163.86−0.010%$279K$438K10xas long as short