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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 07:00 UTC−0.0334%/8h= −36.6% APRpaid last 24h −0.025%
Price spread now: QFEX against Bybit+0.037%7-day average −0.049% · 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−$23as in the Price arb table
costs, in and out, $10k−$320.317% of the position
Long on BybitShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.148%−$15 on $10k
Price spread, last 7 days−0.066%−$7 · spread now +0.037%, 7d avg −0.049%
Together, before fees−0.214%−$21 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.085% dearer against Bybit than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.049%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 4 days (−0.148% in total) that is about 2.1 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit MSTRUSDT163.740.0391pay 0.0391% / 8h1h 20m$16.9M$41.8M50x
ShortQFEX MSTR-USD163.800.0057get 0.0007% / 1h20m 16s$1.3M$7.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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
−$70.17
Price spread: +0.037% → −0.049%
$8.52
Slippage, 4 orders
−$10.65
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$93.29
Costs to cover
0.317%
Break-even
never at this rate
Slippage from Bybit: live order book, 4 min ago; QFEX: 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 Bybit live order book, 4 min ago1.53 bp8.7 bp −$913.9 bp −$139128.9 bp −$12.9Kdoesn't fit
Sell QFEX live order book, 4 min ago1.53 bp6.5 bp −$77.2 bp −$72doesn'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−0.0837%8h163.99+0.153%$29.0M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.88+0.086%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.92+0.110%$2.8M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.69−0.027%$511K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.420%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.60−0.086%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.73−0.006%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.75+0.006%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.64−0.061%$840K$3.9M10xas long as short
Aster MSTRUSDT+0.0050%8h163.73−0.005%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USDshort+0.0057%1h163.80+0.037%$1.3M$7.2M10x
Pacifica MSTR+0.0100%1h163.80+0.038%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.73−0.006%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.29−0.275%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.88+0.086%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.87+0.078%$136—10xas long as short
SoDEX MSTR-USD+0.0132%1h163.80+0.037%$43K$3K10xas long as short
Lighter MSTR+0.0136%1h163.79+0.031%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.356%$1.4M$1.1M10xas long as short
OKX MSTR-USDT-SWAP+0.0165%8h163.78+0.024%$20.8M$100.7M50xas long as short
Variational Omni MSTR+0.0166%8h163.76+0.010%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERP+0.0173%8h163.84+0.061%$66—5xas long as short
Binance MSTRUSDT+0.0250%8h163.80+0.037%$84.1M$627.3M50xas long as short
tradeXYZ xyz:MSTR+0.0259%1h163.79+0.031%$54.3M$37.2M10xas long as short
GRVT MSTR_USDT_Perp+0.0259%8h163.42−0.195%$83K$878K10xas long as short
Phoenix MSTR+0.0328%1h163.43−0.189%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0365%8h163.80+0.037%$1.0M$2.1M20xas long as short
Nado MSTR-PERP+0.0367%1h163.72−0.010%$131K$157K3xas long as short
RISEx MSTR/USDC+0.0381%1h163.89+0.092%$266K$428K10xas long as short
Bybit MSTRUSDTlong+0.0391%8h163.74long leg$16.9M$41.8M50x
edgeX MSTRUSDC+0.0831%4h163.42−0.194%$46K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0910%1h163.93+0.116%$279K$437K10xas long as short