Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0149%/8h= +16.4% APRpaid last 24h +0.020%

Price spread now: Paradex against Extended−0.024%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.024% cheaper against Extended than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSTR_24_5-USD	164.39	0.0032	pay 0.0004% / 1h	21m 13s	$543K	$2.0M	10x
Short	Paradex MSTR-USD-PERP	164.35	0.0181	get 0.0181% / 8h	7h 21m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: $31.39
Price spread: −0.024% → 0.000%: −$2.43
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $19.95
Costs to cover: 0.090%
Break-even: 2.5 days

Slippage unknown: Extended: live order book, 2 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 Extended live order book, 2 min ago	1.22 bp	5.3 bp −$5	19.6 bp −$196	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 32 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
Gate MSTR_USDT	0.0000%	8h	164.67	+0.169%	$4.9M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	164.73	+0.206%	$31.1M	$116.3M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.55	+0.096%	$2.8M	$86K	10x	as long as short
Extended MSTR_24_5-USDlong	+0.0032%	1h	164.39	long leg	$543K	$2.0M	10x
Injective MSTR/USDC PERP	+0.0033%	1h	162.61	−1.084%	$7K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.47	+0.047%	$26K	$112K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.56	+0.102%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.35	−0.026%	$380K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.84	−0.336%	$912K	$3.7M	10x	as long as short
QFEX MSTR-USD	+0.0061%	1h	164.32	−0.044%	$1.4M	$7.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	164.28	−0.068%	$101K	$88K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.38	−0.007%	$2.4M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.22	−0.713%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.60	+0.127%	$3K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.64	+0.153%	$137	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0120%	1h	162.26	−1.297%	$1.4M	$1.1M	10x	as long as short
Aster MSTRUSDT	+0.0141%	8h	164.23	−0.099%	$1.8M	$8.7M	50x	as long as short
Nado MSTR-PERP	+0.0180%	1h	164.38	−0.005%	$126K	$143K	3x	as long as short
Paradex MSTR-USD-PERPshort	+0.0181%	8h	164.35	−0.024%	$66	—	5x
Lighter MSTR	+0.0184%	1h	164.61	+0.133%	$3.5M	$1.8M	10x	as long as short
edgeX MSTRUSDC	+0.0202%	4h	163.37	−0.622%	$46K	$5.4M	10x	as long as short
Variational Omni MSTR	+0.0232%	8h	162.49	−1.155%	$1.2M	$2.0M	—	as long as short
OKX MSTR-USDT-SWAP	+0.0251%	8h	164.66	+0.163%	$21.0M	$95.7M	50x	as long as short
SoDEX MSTR-USD	+0.0312%	1h	164.13	−0.159%	$43K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0339%	8h	164.63	+0.146%	$85.4M	$612.5M	50x	as long as short
RISEx MSTR/USDC	+0.0400%	1h	163.85	−0.330%	$267K	$392K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0408%	1h	164.48	+0.054%	$54.1M	$36.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0441%	8h	163.59	−0.488%	$84K	$846K	10x	as long as short
BloFin MSTR-USDT	+0.0459%	8h	164.66	+0.163%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0460%	1h	164.03	−0.220%	$56K	$223K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0540%	1h	164.60	+0.127%	$280K	$383K	10x	as long as short
Bybit MSTRUSDT	+0.0576%	8h	164.72	+0.200%	$17.3M	$40.5M	50x	as long as short