Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0116%/8h= +12.8% APRpaid last 24h −0.003%

Price spread now: Paradex against SoDEX−0.049%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Paradex is 0.049% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 33 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSTR-USD	164.32	0.0050	pay 0.0006% / 1h	35m 17s	$43K	$3K	10x
Short	Paradex MSTR-USD-PERP	164.24	0.0166	get 0.0166% / 8h	6h 35m	$66	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SoDEX. 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 SoDEXbpFee ParadexbpOrdersPrice spread, now −0.049%Rate

Funding earned: $24.46
Price spread: −0.049% → 0.000%: −$4.87
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $7.59
Costs to cover: 0.120%
Break-even: 4.8 days

Slippage unknown: SoDEX: no order-book sample; 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 SoDEX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

SoDEX and 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSTRUSDT	−0.0868%	8h	164.49	+0.103%	$27.2M	$115.9M	25x	as long as short
Gate MSTR_USDT	−0.0204%	8h	164.36	+0.024%	$4.6M	$18.9M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.34	+0.013%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.42	+0.061%	$20.8M	$100.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.30	−0.012%	$269K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.33	+0.006%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	164.19	−0.076%	$75K	$810K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.47	+0.091%	$2.8M	$68K	10x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.749%	$1.1M	$1.9M	20x	as long as short
edgeX MSTRUSDC	+0.0016%	4h	163.85	−0.288%	$48K	$5.5M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MSTRUSDT	+0.0023%	8h	164.36	+0.023%	$87.3M	$626.3M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.20	−0.073%	$591K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.28	−0.024%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.12	−0.122%	—	$1.8M	25x	as long as short
SoDEX MSTR-USDlong	+0.0050%	1h	164.32	long leg	$43K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.13	−0.116%	$917K	$4.9M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.29	−0.018%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.30	−0.013%	$101K	$86K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.23	−0.055%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	164.08	−0.146%	$4K	$203K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.28	−0.024%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.28	−0.025%	$136	—	10x	as long as short
Polymarket Perps MSTR-USD	+0.0114%	1h	164.26	−0.037%	$381K	$2.7M	10x	as long as short
Lighter MSTR	+0.0144%	1h	164.27	−0.030%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERPshort	+0.0166%	8h	164.24	−0.049%	$66	—	5x
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.04	−0.170%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+3.055%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0342%	1h	164.30	−0.012%	$55.3M	$36.4M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	164.13	−0.116%	$55K	$219K	10x	as long as short
Nado MSTR-PERP	+0.0400%	1h	164.11	−0.127%	$111K	$143K	3x	as long as short
Bybit MSTRUSDT	+0.0430%	8h	164.41	+0.055%	$17.2M	$41.2M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0968%	1h	164.36	+0.024%	$280K	$438K	10x	as long as short