MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0672%/8h= +73.6% APRnext payment +$0.84 per $10,000 · paid last 24h +0.199%

Price spread now: Deribit against QFEX+0.067%7-day average +0.039% · 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−$31as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on QFEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.625%+$63 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.067%, 7d avg +0.039%

Together, before fees+0.602%+$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Deribit is 0.028% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	164.07	0.0054	pay 0.0007% / 1h	6m 03s	$1.3M	$7.3M	10x
Short	Deribit MSTR_USDC-PERPETUAL	164.18	0.0725	get 0.0091% / 1h	6m 03s	$279K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.067%Rate

Funding earned: $141.11
Price spread: +0.067% → +0.039%: $2.78
Slippage, 4 orders: −$17.09
Fee QFEX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $109.8
Costs to cover: 0.341%
Break-even: 1.6 days

Slippage from QFEX: live order book, 8 min ago; Deribit: live order book, 43 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, 8 min ago	1.53 bp	6.5 bp −$7	8.2 bp −$82	16.7 bp −$1,666	doesn't fit
Sell Deribit live order book, 43 min ago	6.10 bp	11.4 bp −$11	12.7 bp −$127	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	−0.1067%	8h	164.43	+0.219%	$28.4M	$119.0M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.22	+0.091%	$4.7M	$19.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.89	−0.110%	$2.8M	$78K	10x	as long as short
edgeX MSTRUSDC	+0.0003%	4h	163.78	−0.178%	$45K	$5.4M	10x	as long as short
Aster MSTRUSDT	+0.0017%	8h	164.05	−0.010%	$1.8M	$8.7M	50x	as long as short
Vest MSTR-USD-PERP	+0.0032%	1h	164.03	−0.024%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.10	+0.018%	$511K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.212%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.95	−0.073%	$26K	$113K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.05	−0.012%	$379K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.77	−0.183%	$853K	$3.9M	10x	as long as short
QFEX MSTR-USDlong	+0.0054%	1h	164.07	long leg	$1.3M	$7.3M	10x
RISEx MSTR/USDC	+0.0088%	1h	164.16	+0.053%	$264K	$442K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.03	−0.021%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.03	−0.024%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	163.96	−0.067%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.20	+0.079%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.14	+0.045%	$136	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0123%	8h	164.24	+0.104%	$20.8M	$101.2M	50x	as long as short
Lighter MSTR	+0.0128%	1h	164.12	+0.030%	$3.5M	$2.0M	10x	as long as short
Variational Omni MSTR	+0.0144%	8h	163.96	−0.069%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0145%	8h	164.09	+0.011%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−1.554%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0219%	8h	164.23	+0.098%	$84.3M	$629.2M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0237%	8h	164.02	−0.033%	$80K	$857K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0245%	1h	164.05	−0.012%	$54.4M	$37.4M	10x	as long as short
Nado MSTR-PERP	+0.0337%	1h	163.92	−0.094%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0338%	8h	164.04	−0.018%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0362%	1h	163.88	−0.116%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0377%	8h	164.24	+0.104%	$16.9M	$41.9M	50x	as long as short
SoDEX MSTR-USD	+0.0414%	1h	164.16	+0.055%	$43K	$3K	10x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0725%	1h	164.18	+0.067%	$279K	$438K	10x