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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0060%/8h= −6.5% APRnext payment −$0.07 per $10,000 · paid last 24h +0.082%
Price spread now: Arcus against ApeX Omni+0.165%53s7-day average +0.025% · 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—prices read too far apart to compare
costs, in and out, $10k−$1331.330% of the position
Long on ApeX OmniShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.008%+$1 on $10k
Price spread, last 4 days (all we have)−0.561%−$56 · spread now +0.165%, 7d avg +0.025%
Together, before fees−0.553%−$55 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Arcus is 0.140% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.165% now, against its 7-day average of +0.025%): +$14 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.8 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni MSTRUSDT163.460.0100pay 0.0013% / 1h50m 36s$6K$182K50x
ShortArcus MSTR-USD163.730.0040get 0.0005% / 1h50m 36s$26K$114K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against ApeX Omni. 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

Funding earned
−$12.54
Price spread: +0.165% → +0.025%
$14.02
Slippage, 4 orders
−$118.48
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$131.5
Costs to cover
1.330%
Break-even
never at this rate
Slippage from ApeX Omni: live order book, 58 min ago; Arcus: live order book, 47 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 58 min ago3.06 bp41.0 bp −$41doesn't fitdoesn't fitdoesn't fit
Sell Arcus live order book, 47 min ago8.25 bp10.5 bp −$1132.4 bp −$324doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0264%8h163.70+0.147%$30.0M$118.6M25xas long as short
Phemex MSTRUSDT0.0000%4h163.86+0.245%$2.8M$85K10xas long as short
Gate MSTR_USDT+0.0009%8h163.74+0.171%$4.7M$18.4M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.49+0.017%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.597%$8K$25K30xas long as short
Arcus MSTR-USDshort+0.0040%1h163.73+0.165%$26K$114K10x
Vest MSTR-USD-PERP+0.0046%1h163.81+0.214%—$1.7M25xas long as short
Lighter MSTR+0.0048%1h163.74+0.171%$3.5M$1.7M10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.75+0.177%$379K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.77+0.190%$892K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX MSTR-USD+0.0061%1h163.64+0.110%$1.4M$7.1M10xas long as short
Pacifica MSTR+0.0100%1h163.71+0.150%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.59+0.080%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTlong+0.0100%1h163.46long leg$6K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.84+0.232%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.86+0.243%$136—10xas long as short
Aster MSTRUSDT+0.0107%8h163.66+0.122%$1.8M$8.7M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.514%$1.4M$1.1M10xas long as short
Nado MSTR-PERP+0.0128%1h163.52+0.037%$125K$165K3xas long as short
SoDEX MSTR-USD+0.0137%1h163.78+0.196%$43K$3K10xas long as short
Paradex MSTR-USD-PERP+0.0140%8h163.70+0.148%$65—5xas long as short
Variational Omni MSTR+0.0218%8h163.95+0.299%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0218%8h163.66+0.122%$20.9M$99.5M50xas long as short
Binance MSTRUSDT+0.0302%8h163.70+0.147%$84.3M$618.9M50xas long as short
tradeXYZ xyz:MSTR+0.0384%1h163.76+0.184%$54.0M$37.5M10xas long as short
RISEx MSTR/USDC+0.0400%1h163.69+0.139%$269K$417K10xas long as short
BloFin MSTR-USDT+0.0417%8h163.94+0.294%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.66+0.125%$56K$223K10xas long as short
Bybit MSTRUSDT+0.0499%8h163.71+0.153%$17.2M$41.3M50xas long as short
edgeX MSTRUSDC+0.0834%4h163.62+0.097%$47K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0849%1h163.98+0.318%$279K$435K10xas long as short
GRVT MSTR_USDT_Perp+0.0900%8h163.72+0.160%$80K$838K10xas long as short