Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0136%/8h= +14.8% APRpaid last 24h −0.078%

Price spread now: Paradex against Arcus+0.021%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Paradex

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.021% dearer against Arcus 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).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSTR-USD	164.83	0.0040	pay 0.0005% / 1h	17m 39s	$27K	$113K	10x
Short	Paradex MSTR-USD-PERP	164.86	0.0176	get 0.0176% / 8h	6h 17m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Arcus. 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 ArcusbpFee ParadexbpOrdersPrice spread, now +0.021%Rate

Funding earned: $28.47
Price spread: +0.021% → 0.000%: $2.08
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $22.05
Costs to cover: 0.085%
Break-even: 1.6 days

Slippage unknown: Arcus: live order book, 50 min ago; Paradex: no order-book sample. 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 Arcus live order book, 50 min ago	10.18 bp	13.2 bp −$13	43.6 bp −$436	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 31 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	−0.1071%	8h	165.02	+0.115%	$27.6M	$115.8M	25x	as long as short
Gate MSTR_USDT	−0.0171%	8h	164.87	+0.024%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.83	+0.002%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.87	+0.024%	$20.9M	$100.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.83	0.000%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.70	−0.076%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.07	+0.146%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.68	−0.091%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USDlong	+0.0040%	1h	164.83	long leg	$27K	$113K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	164.61	−0.133%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.90	+0.042%	$910K	$4.5M	10x	as long as short
SoDEX MSTR-USD	+0.0062%	1h	164.67	−0.097%	$43K	$3K	10x	as long as short
Lighter MSTR	+0.0064%	1h	164.83	0.000%	$3.5M	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.89	+0.036%	$1.4M	$8.1M	10x	as long as short
Binance MSTRUSDT	+0.0065%	8h	164.92	+0.053%	$87.9M	$624.2M	50x	as long as short
Polymarket Perps MSTR-USD	+0.0090%	1h	164.62	−0.127%	$384K	$2.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.87	+0.021%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.73	−0.061%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	−0.164%	$4K	$188K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.65	−0.109%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.77	−0.037%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	165.00	+0.102%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.40	−0.261%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0176%	8h	164.86	+0.021%	$66	—	5x
tradeXYZ xyz:MSTR	+0.0240%	1h	164.82	−0.006%	$55.2M	$36.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.736%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0366%	1h	164.47	−0.216%	$111K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.70	−0.081%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0391%	8h	164.95	+0.073%	$17.1M	$41.2M	50x	as long as short
edgeX MSTRUSDC	+0.0596%	4h	164.80	−0.019%	$48K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1449%	1h	165.08	+0.152%	$281K	$438K	10x	as long as short