MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0023%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h −0.032%

Price spread now: QFEX against Injective−3.396%7-day average — · you buy dearer than you sell

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

Long on Injective Short on QFEX

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—needs both histories

Funding pays, the price is against you. QFEX is 3.396% cheaper against Injective than usual: you would sell low and buy high (spread −3.396% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$340 on $10k: about 16 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSTR/USDC PERP	169.34	0.0033	pay 0.0004% / 1h	12m 47s	$8K	$26K	30x
Short	QFEX MSTR-USD	163.59	0.0057	get 0.0007% / 1h	12m 47s	$1.3M	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Injective. 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 InjectivebpFee QFEXbpOrdersPrice spread, now −3.396%Rate

Funding earned: $4.91
Price spread: −3.396% → 0.000%: −$339.55
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$344.66
Costs to cover: 0.100%
Break-even: 498.3 days

Slippage unknown: Injective: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell QFEX live order book, 6 min ago	1.22 bp	6.2 bp −$6	8.5 bp −$85	doesn't fit	doesn't fit

Injective: 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
Bitget MSTRUSDT	−0.0706%	8h	163.70	−3.331%	$29.1M	$118.7M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.64	−3.366%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.68	−3.342%	$2.8M	$79K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.41	−3.502%	$511K	$2.0M	10x	as long as short
Injective MSTR/USDC PERPlong	+0.0033%	1h	169.34	long leg	$8K	$26K	30x
Arcus MSTR-USD	+0.0040%	1h	163.71	−3.325%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.55	−3.419%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.52	−3.437%	$378K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.52	−3.437%	$850K	$3.9M	10x	as long as short
Aster MSTRUSDT	+0.0053%	8h	163.40	−3.508%	$1.8M	$8.7M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USDshort	+0.0057%	1h	163.59	−3.396%	$1.3M	$7.2M	10x
SoDEX MSTR-USD	+0.0079%	1h	163.57	−3.407%	$43K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	163.54	−3.422%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.50	−3.449%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.61	−3.384%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.55	−3.419%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.57	−3.409%	$136	—	10x	as long as short
Lighter MSTR	+0.0112%	1h	163.46	−3.472%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−4.618%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0164%	8h	163.52	−3.436%	$65	—	5x	as long as short
OKX MSTR-USDT-SWAP	+0.0166%	8h	163.57	−3.407%	$20.8M	$100.2M	50x	as long as short
Variational Omni MSTR	+0.0175%	8h	163.69	−3.339%	$1.2M	$2.1M	—	as long as short
tradeXYZ xyz:MSTR	+0.0244%	1h	163.47	−3.466%	$54.2M	$37.2M	10x	as long as short
Binance MSTRUSDT	+0.0251%	8h	163.58	−3.401%	$84.1M	$626.0M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0265%	8h	163.76	−3.297%	$84K	$867K	10x	as long as short
Phoenix MSTR	+0.0328%	1h	163.77	−3.290%	$56K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0357%	1h	163.48	−3.463%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0369%	8h	163.62	−3.378%	$1.0M	$2.1M	20x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	163.65	−3.360%	$265K	$425K	10x	as long as short
Bybit MSTRUSDT	+0.0387%	8h	163.59	−3.396%	$17.1M	$41.9M	50x	as long as short
edgeX MSTRUSDC	+0.0780%	4h	163.70	−3.329%	$46K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1035%	1h	163.61	−3.384%	$278K	$437K	10x	as long as short