MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0015%/8h= +1.6% APRnext payment +$0.02 per $10,000 · paid last 24h −0.001%

Price spread now: Polymarket Perps against QFEX+0.018%7-day average −0.028% · 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−$24as in the Price arb table

costs, in and out, $10k−$290.285% of the position

Long on QFEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.176%+$18 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.018%, 7d avg −0.028%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Polymarket Perps is 0.046% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSTR-USD	168.92	0.0035	pay 0.0004% / 1h	49m 04s	$1.4M	$10.0M	10x
Short	Polymarket Perps MSTR-USD	168.95	0.0050	get 0.0006% / 1h	49m 04s	$396K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.018%Rate

Funding earned: $3.07
Price spread: +0.018% → −0.028%: $4.62
Slippage, 4 orders: −$10.53
Fee QFEX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$20.83
Costs to cover: 0.285%
Break-even: 54.4 days

Slippage from QFEX: live order book, 5 min ago; Polymarket Perps: live order book, 5 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, 5 min ago	1.48 bp	6.5 bp −$6	7.7 bp −$77	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	1.77 bp	6.1 bp −$6	8.2 bp −$82	10.7 bp −$1,074	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
Nado MSTR-PERP	−0.0096%	1h	168.86	−0.036%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.02	+0.058%	$1.2M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.15	+0.136%	$15.2M	$39.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.09	+0.101%	$21.9M	$103.9M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.07	+0.089%	$4.7M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	169.11	+0.112%	$28.6M	$115.1M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	+0.023%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.10	+0.107%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.98	+0.036%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.95	+0.018%	$579K	$1.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USDlong	+0.0035%	1h	168.92	long leg	$1.4M	$10.0M	10x
Arcus MSTR-USD	+0.0040%	1h	169.15	+0.136%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.03	+0.065%	—	$2.0M	25x	as long as short
Polymarket Perps MSTR-USDshort	+0.0050%	1h	168.95	+0.018%	$396K	$2.7M	10x
SoDEX MSTR-USD	+0.0050%	1h	168.93	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.80	−0.071%	$747K	$5.0M	10x	as long as short
BloFin MSTR-USDT	+0.0063%	8h	169.09	+0.101%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0072%	8h	169.11	+0.112%	$89.3M	$621.1M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.101%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.94	+0.010%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.95	+0.017%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.98	+0.036%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	168.89	−0.018%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.00	+0.047%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.10	+0.106%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0170%	1h	169.11	+0.112%	$57.1M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.249%	$8K	$26K	30x	as long as short
GRVT MSTR_USDT_Perp	+0.0256%	8h	169.19	+0.160%	$77K	$859K	10x	as long as short
Phoenix MSTR	+0.0259%	1h	169.17	+0.146%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.03	+0.064%	$275K	$440K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0460%	1h	169.04	+0.071%	$287K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0465%	4h	169.30	+0.225%	$48K	$5.5M	10x	as long as short