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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−0.0137%/8h= −15.0% APRpaid last 24h −0.017%
Price spread now: Extended against Paradex−0.040%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on ParadexShort on Extended
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 airdropParadex: Active · Extended: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Extended is 0.040% cheaper against Paradex than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParadex MSTR-USD-PERP163.750.0169pay 0.0169% / 8h1h 16m$65—5x
ShortExtended MSTR_24_5-USD163.690.0032get 0.0004% / 1h16m 54s$511K$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Paradex. 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
−$28.86
Price spread: −0.040% → 0.000%
−$3.97
Slippage, 4 orders
no order book: not counted
Fee Paradex: 2 bp × 2 orders
−$4
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$41.83
Costs to cover
0.090%
Break-even
never at this rate
Slippage unknown: Paradex: no order-book sample; Extended: live order book, 2 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 Paradex no order-book sample—————
Sell Extended live order book, 2 min ago0.92 bp6.6 bp −$721.8 bp −$218doesn't fitdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0779%8h163.83+0.049%$29.2M$118.8M25xas long as short
Gate MSTR_USDT0.0000%8h163.89+0.085%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.88+0.079%$2.8M$79K10xas long as short
Extended MSTR_24_5-USDshort+0.0032%1h163.69−0.040%$511K$2.0M10x
Injective MSTR/USDC PERP+0.0033%1h169.34+3.414%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.76+0.006%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.73−0.012%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.73−0.012%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.61−0.085%$840K$3.9M10xas long as short
Aster MSTRUSDT+0.0054%8h163.75−0.002%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0057%1h163.78+0.018%$1.3M$7.2M10xas long as short
Pacifica MSTR+0.0100%1h163.72−0.018%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.76+0.006%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDT+0.0100%1h163.62−0.079%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.82+0.043%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.80+0.031%$136—10xas long as short
Lighter MSTR+0.0128%1h163.68−0.043%$3.5M$2.0M10xas long as short
SoDEX MSTR-USD+0.0137%1h163.81+0.037%$43K$3K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.362%$1.4M$1.1M10xas long as short
OKX MSTR-USDT-SWAP+0.0165%8h163.76+0.006%$20.9M$100.7M50xas long as short
Variational Omni MSTR+0.0166%8h163.76+0.004%$1.2M$2.1M—as long as short
Paradex MSTR-USD-PERPlong+0.0169%8h163.75long leg$65—5x
Binance MSTRUSDT+0.0251%8h163.79+0.024%$84.0M$627.3M50xas long as short
tradeXYZ xyz:MSTR+0.0253%1h163.67−0.049%$54.2M$37.2M10xas long as short
GRVT MSTR_USDT_Perp+0.0267%8h163.79+0.027%$84K$878K10xas long as short
Phoenix MSTR+0.0328%1h163.73−0.014%$56K$223K10xas long as short
Nado MSTR-PERP+0.0365%1h163.66−0.054%$131K$157K3xas long as short
BloFin MSTR-USDT+0.0371%8h163.87+0.073%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.86+0.066%$266K$427K10xas long as short
Bybit MSTRUSDT+0.0393%8h163.85+0.061%$17.2M$41.9M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0912%1h163.77+0.012%$279K$437K10xas long as short
edgeX MSTRUSDC+0.0965%4h163.78+0.017%$46K$5.4M10xas long as short