Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.017%

Price spread now: ApeX Omni against Aster−0.047%99s7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as 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−$890.892% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.397%+$40 · spread now −0.047%, 7d avg +0.017%

Together, before fees+0.476%+ Points / potential airdropAster: Stage 5 · farm board+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.064% cheaper against Aster than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.017%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.079% in total) that is about 5.7 days. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSTRUSDT	165.48	0	get 0.0000% / 8h	5h 13m	$1.9M	$8.5M	50x
Short	ApeX Omni MSTRUSDT	165.40	0.0100	get 0.0013% / 1h	13m 52s	$4K	$184K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $21
Price spread: −0.047% → +0.017%: −$6.38
Slippage, 4 orders: −$71.19
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$74.57
Costs to cover: 0.892%
Break-even: 31.9 days

Slippage from Aster: live order book, 5 min ago; ApeX Omni: live order book, 60 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 Aster live order book, 5 min ago	0.30 bp	9.2 bp −$9	35.2 bp −$352	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 60 min ago	3.03 bp	40.2 bp −$40	doesn't fit	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	−0.0963%	8h	165.67	+0.116%	$27.7M	$114.6M	25x	as long as short
Aster MSTRUSDTlong	0.0000%	8h	165.48	long leg	$1.9M	$8.5M	50x
Gate MSTR_USDT	0.0000%	8h	165.58	+0.062%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.54	+0.037%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0001%	8h	165.54	+0.037%	$20.8M	$100.1M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.52	+0.025%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.41	−0.044%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.334%	$8K	$26K	30x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.67	+0.118%	$1.2M	$2.1M	—	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.56	+0.050%	$27K	$110K	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	165.73	+0.152%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.46	−0.011%	$383K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.39	−0.053%	$882K	$4.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0054%	1h	165.46	−0.011%	$55.1M	$36.8M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.55	+0.044%	$1.4M	$7.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.48	−0.001%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.50	+0.013%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	165.40	−0.047%	$4K	$184K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.58	+0.062%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.54	+0.038%	$137	—	10x	as long as short
SoDEX MSTR-USD	+0.0104%	1h	165.55	+0.044%	$44K	$3K	10x	as long as short
Binance MSTRUSDT	+0.0108%	8h	165.56	+0.048%	$88.2M	$616.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0135%	8h	165.53	+0.034%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0161%	8h	165.55	+0.041%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	165.51	+0.019%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0217%	1h	165.50	+0.016%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0227%	8h	165.67	+0.116%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.62	+0.086%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.50	+0.010%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0343%	8h	165.61	+0.080%	$17.3M	$40.6M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0657%	1h	165.59	+0.068%	$282K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0965%	4h	165.49	+0.006%	$51K	$5.4M	10x	as long as short