Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.011%

Price spread now: Variational Omni against ApeX Omni+0.028%7-day average +0.018% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.028%, 7d avg +0.018%

Together, before fees−0.070%+ Points / potential airdropVariational Omni: Active · farm board−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSTRUSDT	164.61	0.0100	pay 0.0013% / 1h	55m 21s	$6K	$186K	50x
Short	Variational Omni MSTR	164.66	0.0099	get 0.0099% / 8h	3h 55m	$1.2M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.028%Rate

Funding earned: −$0.15
Price spread: +0.028% → +0.018%: $1.03
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.12
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 9 min ago; Variational Omni: RFQ quote, 4 min ago. 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 ApeX Omni live order book, 9 min ago	3.04 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.97 bp	doesn't fit	8.7 bp −$87	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
Bitget MSTRUSDT	−0.0898%	8h	164.75	+0.085%	$27.9M	$115.2M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.57	−0.023%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.74	+0.079%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.73	+0.073%	$2.8M	$75K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0025%	8h	164.73	+0.073%	$20.7M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.53	−0.049%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.44	−0.106%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.873%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.72	+0.067%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.49	−0.073%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.51	−0.061%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.67	+0.036%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.40	−0.128%	$862K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.56	−0.030%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTRshort	+0.0099%	8h	164.66	+0.028%	$1.2M	$2.1M	—
Pacifica MSTR	+0.0100%	1h	164.57	−0.027%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.51	−0.061%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	164.61	long leg	$6K	$186K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.64	+0.018%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.65	+0.026%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.51	−0.058%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0154%	1h	164.58	−0.018%	$54.8M	$37.0M	10x	as long as short
Binance MSTRUSDT	+0.0156%	8h	164.65	+0.027%	$87.0M	$615.7M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.298%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0175%	8h	164.73	+0.073%	$82K	$792K	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.76	+0.089%	$56K	$226K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.61	0.000%	$267K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0236%	1h	164.45	−0.100%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.69	+0.049%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0342%	8h	164.69	+0.049%	$17.0M	$40.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0723%	1h	164.66	+0.030%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0749%	4h	164.71	+0.063%	$49K	$5.3M	10x	as long as short