Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.022%

Price spread now: Aster against ApeX Omni+0.091%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$890.889% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 3 days (all we have)−0.240%−$24 · spread now +0.091%, 7d avg −0.015%

Together, before fees−0.317%+ Points / potential airdropAster: Stage 5 · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.106% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.015%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.077% in total) that is about 9.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSTRUSDT	169.06	0.0100	pay 0.0013% / 1h	53m 31s	$4K	$394K	50x
Short	Aster MSTRUSDT	169.21	0	get 0.0000% / 8h	53m 31s	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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

Position, each leg$Hold fordaysFee ApeX OmnibpFee AsterbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$21
Price spread: +0.091% → −0.015%: $10.55
Slippage, 4 orders: −$70.92
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$99.37
Costs to cover: 0.889%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 35 min ago; Aster: 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 ApeX Omni live order book, 35 min ago	2.96 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	0.89 bp	6.1 bp −$6	312.8 bp −$3,128	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
BloFin MSTR-USDT	−0.0009%	8h	169.56	+0.296%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	169.21	+0.091%	$1.2M	$6.1M	50x
Binance MSTRUSDT	0.0000%	8h	169.61	+0.323%	$89.5M	$629.2M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.66	+0.355%	$22.1M	$107.0M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.58	+0.308%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.38	+0.191%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.52	+0.272%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.55	+0.290%	$2.9M	$64K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.59	+0.316%	$276K	$442K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.35	+0.172%	$583K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	169.67	+0.361%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0048%	8h	169.60	+0.319%	$28.8M	$120.6M	25x	as long as short
QFEX MSTR-USD	+0.0049%	1h	169.58	+0.308%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.52	+0.272%	$393K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.40	+0.201%	$781K	$5.2M	10x	as long as short
Bybit MSTRUSDT	+0.0084%	8h	169.66	+0.355%	$15.2M	$40.6M	50x	as long as short
Nado MSTR-PERP	+0.0085%	1h	169.38	+0.191%	$140K	$97K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.09	+0.018%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.49	+0.254%	$105K	$104K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.34	+0.166%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	169.06	long leg	$4K	$394K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.49	+0.254%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.08	+0.012%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.50	+0.260%	$141	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0110%	8h	169.53	+0.280%	$68	—	5x	as long as short
Lighter MSTR	+0.0152%	1h	169.51	+0.266%	$3.6M	$2.4M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0173%	1h	169.54	+0.284%	$57.2M	$37.4M	10x	as long as short
SoDEX MSTR-USD	+0.0228%	1h	169.56	+0.296%	$45K	$3K	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.50	+0.258%	$57K	$392K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.63	+0.337%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0789%	4h	169.52	+0.270%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1049%	1h	169.59	+0.313%	$288K	$439K	10x	as long as short