Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0494%/8h= −54.1% APRpaid last 24h −0.063%

Price spread now: Paradex against RISEx−0.051%7-day average — · you buy dearer than you sell

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

Long on RISEx Short on Paradex

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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Paradex is 0.051% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	166.09	0.0598	pay 0.0075% / 1h	8m 46s	$274K	$353K	10x
Short	Paradex MSTR-USD-PERP	166.00	0.0104	get 0.0104% / 8h	6h 08m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against RISEx. 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 RISExbpFee ParadexbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$103.71
Price spread: −0.051% → 0.000%: −$5.12
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$118.83
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 42 min ago; Paradex: no order-book sample. 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 RISEx live order book, 42 min ago	2.42 bp	5.4 bp −$5	7.7 bp −$77	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 exchanges

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
Gate MSTR_USDT	0.0000%	8h	166.09	0.000%	$4.9M	$18.5M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.10	+0.006%	$32.0M	$106.6M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.10	+0.006%	$2.8M	$85K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.97	−0.069%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.18	+0.054%	—	$1.7M	25x	as long as short
Lighter MSTR	+0.0048%	1h	166.04	−0.030%	$3.5M	$1.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.02	−0.042%	$383K	$2.3M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.01	−0.048%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.86	−0.138%	$881K	$3.3M	10x	as long as short
QFEX MSTR-USD	+0.0076%	1h	165.98	−0.066%	$1.3M	$6.2M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MSTR	+0.0100%	1h	165.92	−0.100%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.01	−0.048%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	165.85	−0.144%	$6K	$157K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.04	−0.030%	$3K	$10K	10x	as long as short
Nado MSTR-PERP	+0.0101%	1h	165.93	−0.097%	$127K	$133K	3x	as long as short
Paradex MSTR-USD-PERPshort	+0.0104%	8h	166.00	−0.051%	$66	—	5x
Aevo MSTR-PERP	+0.0104%	1h	166.05	−0.025%	$138	—	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	165.78	−0.187%	$1.4M	$390K	10x	as long as short
Aster MSTRUSDT	+0.0213%	8h	166.03	−0.036%	$1.8M	$7.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0272%	1h	166.01	−0.048%	$54.8M	$34.3M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0275%	8h	166.04	−0.030%	$21.6M	$85.1M	50x	as long as short
Bybit MSTRUSDT	+0.0276%	8h	166.10	+0.006%	$17.1M	$38.5M	50x	as long as short
Variational Omni MSTR	+0.0305%	8h	165.95	−0.086%	$1.2M	$1.7M	—	as long as short
edgeX MSTRUSDC	+0.0338%	4h	166.00	−0.052%	$49K	$5.0M	10x	as long as short
Phoenix MSTR	+0.0355%	1h	165.98	−0.065%	$55K	$217K	10x	as long as short
Binance MSTRUSDT	+0.0395%	8h	166.04	−0.030%	$86.9M	$545.9M	50x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	165.22	−0.524%	$7K	$28K	30x	as long as short
GRVT MSTR_USDT_Perp	+0.0466%	8h	166.03	−0.037%	$80K	$843K	10x	as long as short
BloFin MSTR-USDT	+0.0515%	8h	166.04	−0.030%	$1.1M	$1.9M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0534%	1h	166.05	−0.024%	$282K	$209K	10x	as long as short
RISEx MSTR/USDClong	+0.0598%	1h	166.09	long leg	$274K	$353K	10x
Arcus MSTR-USD	+0.0942%	1h	166.08	−0.006%	$26K	$71K	10x	as long as short