Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0064%/8h= −7.1% APRpaid last 24h +0.031%

Price spread now: Aster against QFEX−0.014%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 7 days−0.024%−$2 · spread now −0.014%, 7d avg +0.032%

Together, before fees+0.008%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.047% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	164.52	0.0064	pay 0.0008% / 1h	42m 16s	$1.4M	$8.5M	10x
Short	Aster MSTRUSDT	164.50	0	get 0.0000% / 8h	6h 42m	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$13.52
Price spread: −0.014% → +0.032%: −$4.65
Slippage, 4 orders: −$11.45
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.63
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Aster: live order book, 1 min ago.

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 QFEX live order book, 7 min ago	1.81 bp	6.8 bp −$7	9.0 bp −$90	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	1.51 bp	7.6 bp −$8	308.1 bp −$3,081	doesn't fit	doesn't fit

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	−0.0579%	8h	164.61	+0.055%	$27.1M	$115.7M	25x	as long as short
Gate MSTR_USDT	−0.0332%	8h	164.43	−0.055%	$4.6M	$18.8M	50x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	164.50	−0.014%	$1.2M	$6.1M	50x
OKX MSTR-USDT-SWAP	0.0000%	8h	164.50	−0.012%	$21.0M	$100.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.50	−0.012%	$269K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.99	+0.288%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.86	+0.206%	$76K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.02	+0.304%	$2.8M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0007%	8h	164.40	−0.071%	$86.9M	$625.0M	50x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.626%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	164.22	−0.185%	$565K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.06	+0.328%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.37	−0.091%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.49	−0.018%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.77	+0.152%	$799K	$4.8M	10x	as long as short
QFEX MSTR-USDlong	+0.0064%	1h	164.52	long leg	$1.4M	$8.5M	10x
Pacifica MSTR	+0.0100%	1h	164.60	+0.047%	$102K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.30	−0.134%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.86	+0.207%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.41	−0.067%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.40	−0.072%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0121%	1h	164.47	−0.030%	$384K	$2.7M	10x	as long as short
Lighter MSTR	+0.0152%	1h	164.35	−0.103%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0158%	8h	164.49	−0.018%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.67	+0.091%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.930%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0368%	1h	164.46	−0.036%	$55.5M	$36.5M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	164.96	+0.264%	$55K	$219K	10x	as long as short
edgeX MSTRUSDC	+0.0389%	4h	165.28	+0.464%	$47K	$5.5M	10x	as long as short
Nado MSTR-PERP	+0.0418%	1h	164.27	−0.152%	$130K	$132K	3x	as long as short
Bybit MSTRUSDT	+0.0435%	8h	164.52	0.000%	$17.2M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1090%	1h	164.43	−0.055%	$280K	$438K	10x	as long as short