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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 08:00 UTC−0.0489%/8h= −53.5% APRpaid last 24h +0.005%
Price spread now: Bitget against ApeX Omni+0.184%73s7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$134as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1281.283% of the position
Long on ApeX OmniShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.056%−$6 on $10k
Price spread, last 4 days (all we have)−1.067%−$107 · spread now +0.184%, 7d avg +0.026%
Together, before fees−1.122%−$112 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bitget is 0.157% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.184% now, against its 7-day average of +0.026%): +$16 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.056% in total) that is about 20 days. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.056% in total (about -2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni MSTRUSDT163.160.0100pay 0.0013% / 1h0m 27s$6K$182K50x
ShortBitget MSTRUSDT163.46−0.0389pay 0.0389% / 8h0m 27s$29.5M$119.3M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget 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
−$102.69
Price spread: +0.184% → +0.026%
$15.74
Slippage, 4 orders
−$106.34
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$215.29
Costs to cover
1.283%
Break-even
never at this rate
Slippage from ApeX Omni: live order book, 49 min ago; Bitget: live order book, 4 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, 49 min ago3.06 bp41.0 bp −$41doesn't fitdoesn't fitdoesn't fit
Sell Bitget live order book, 4 min ago0.31 bp8.1 bp −$813.7 bp −$13750.8 bp −$5,081doesn'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 MSTRUSDTshort−0.0389%8h163.46+0.184%$29.5M$119.3M25x
Gate MSTR_USDT0.0000%8h163.35+0.116%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.33+0.104%$2.7M$84K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.22+0.040%$589K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.788%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.34+0.110%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.15−0.006%—$1.8M25xas long as short
Lighter MSTR+0.0048%1h163.14−0.012%$3.5M$2.0M10xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.24+0.049%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.24+0.049%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.96−0.123%$895K$3.7M10xas long as short
QFEX MSTR-USD+0.0067%1h163.30+0.086%$1.4M$7.1M10xas long as short
Aster MSTRUSDT+0.0079%8h163.25+0.057%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.30+0.086%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.18+0.012%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTlong+0.0100%1h163.16long leg$6K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.33+0.104%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.34+0.108%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0129%8h163.14−0.015%$65—5xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h162.62−0.331%$1.4M$1.1M10xas long as short
Nado MSTR-PERP+0.0157%1h163.06−0.060%$125K$165K3xas long as short
Variational Omni MSTR+0.0202%8h163.25+0.057%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0204%8h163.33+0.104%$20.8M$99.9M50xas long as short
GRVT MSTR_USDT_Perp+0.0266%8h163.41+0.153%$82K$859K10xas long as short
Binance MSTRUSDT+0.0273%8h163.32+0.098%$84.1M$620.6M50xas long as short
Phoenix MSTR+0.0357%1h163.27+0.067%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0393%8h163.29+0.080%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0396%8h163.31+0.092%$17.1M$41.7M50xas long as short
tradeXYZ xyz:MSTR+0.0414%1h163.23+0.043%$53.9M$37.7M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0485%1h163.32+0.098%$278K$437K10xas long as short
RISEx MSTR/USDC+0.0493%1h163.25+0.054%$268K$418K10xas long as short
edgeX MSTRUSDC+0.0963%4h163.30+0.088%$46K$5.4M10xas long as short