Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h −0.037%

Price spread now: ApeX Omni against Binance−0.159%69s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as 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−$1121.116% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 2 days (all we have)+0.078%+$8 · spread now −0.159%, 7d avg −0.028%

Together, before fees+0.075%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.131% cheaper against Binance than usual: you would sell low and buy high (spread −0.159% now, against its 7-day average of −0.028%). If the spread goes back, that is −$13 on $10k: about 16 days of funding at the current rate (+$1 a day). The two prices were read 69 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	Binance MSTRUSDT	169.56	0.0073	pay 0.0073% / 8h	7h 56m	$89.5M	$624.2M	50x
Short	ApeX Omni MSTRUSDT	169.29	0.0100	get 0.0013% / 1h	56m 26s	$4K	$223K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.159%Rate

Funding earned: $5.71
Price spread: −0.159% → −0.028%: −$13.12
Slippage, 4 orders: −$91.64
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$119.04
Costs to cover: 1.116%
Break-even: 152.8 days

Slippage from Binance: live order book, 2 min ago; ApeX Omni: live order book, 28 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 Binance live order book, 2 min ago	0.29 bp	5.5 bp −$6	10.2 bp −$102	33.5 bp −$3,347	doesn't fit
Sell ApeX Omni live order book, 28 min ago	2.96 bp	42.6 bp −$43	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
Nado MSTR-PERP	−0.0072%	1h	169.58	+0.013%	$140K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.46	−0.061%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.65	+0.053%	$15.2M	$39.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.59	+0.018%	$22.0M	$104.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.57	+0.006%	$4.7M	$18.8M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.44	−0.070%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.66	+0.059%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.56	0.000%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	−0.050%	$581K	$1.7M	10x	as long as short
Bitget MSTRUSDT	+0.0035%	8h	169.54	−0.012%	$28.7M	$116.2M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0035%	1h	169.56	0.000%	$1.5M	$10.2M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.70	+0.083%	$27K	$122K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.82	+0.153%	—	$2.1M	25x	as long as short
GRVT MSTR_USDT_Perp	+0.0046%	8h	169.55	−0.005%	$77K	$871K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.58	+0.012%	$400K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	+0.100%	$765K	$5.1M	10x	as long as short
BloFin MSTR-USDT	+0.0057%	8h	169.81	+0.147%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDTlong	+0.0073%	8h	169.56	long leg	$89.5M	$624.2M	50x
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.478%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0095%	8h	169.58	+0.013%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.55	−0.008%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.51	−0.029%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	169.29	−0.159%	$4K	$223K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.80	+0.142%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.58	+0.010%	$141	—	10x	as long as short
SoDEX MSTR-USD	+0.0197%	1h	169.77	+0.124%	$45K	$3K	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.49	−0.041%	$13K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.47	−0.051%	$57K	$384K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0325%	1h	169.54	−0.012%	$57.2M	$37.0M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.59	+0.015%	$276K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0365%	4h	169.54	−0.012%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0457%	1h	169.79	+0.136%	$289K	$438K	10x	as long as short