Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.078%

Price spread now: ApeX Omni against BloFin+0.296%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$1151.146% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 3 days (all we have)−0.296%−$30 · spread now +0.296%, 7d avg −0.025%

Together, before fees−0.533%−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.321% dearer against BloFin than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of −0.025%. Mind the row above: over the last 7 days funding on this pair cost −0.237%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSTR-USDT	169.12	0.0080	pay 0.0080% / 8h	7h 54m	$1.1M	$1.9M	20x
Short	ApeX Omni MSTRUSDT	169.62	0.0100	get 0.0013% / 1h	54m 49s	$4K	$207K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.296%Rate

Funding earned: $4.18
Price spread: +0.296% → −0.025%: $32.1
Slippage, 4 orders: −$92.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$78.29
Costs to cover: 1.146%
Break-even: 138.2 days

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 29 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 BloFin live order book, 3 min ago	0.59 bp	6.6 bp −$7	8.0 bp −$80	19.6 bp −$1,957	doesn't fit
Sell ApeX Omni live order book, 29 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	−0.0087%	1h	169.14	+0.012%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.22	+0.057%	$1.3M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	169.31	+0.112%	$15.2M	$39.9M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.28	+0.095%	$21.9M	$104.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.27	+0.089%	$4.7M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.18	+0.035%	$2.9M	$66K	10x	as long as short
Variational Omni MSTR	+0.0002%	8h	169.63	+0.303%	$1.2M	$2.4M	—	as long as short
Lighter MSTR	+0.0032%	1h	169.00	−0.071%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.48	+0.211%	$581K	$1.7M	10x	as long as short
Bitget MSTRUSDT	+0.0033%	8h	169.27	+0.089%	$28.6M	$115.6M	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	169.39	+0.160%	$1.5M	$10.2M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.69	+0.337%	$27K	$122K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.47	+0.207%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.51	+0.231%	$398K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.13	+0.006%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.73	+0.361%	$765K	$5.1M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0054%	1h	169.50	+0.225%	$57.2M	$35.4M	10x	as long as short
Binance MSTRUSDT	+0.0073%	8h	169.26	+0.085%	$89.4M	$623.5M	50x	as long as short
BloFin MSTR-USDTlong	+0.0080%	8h	169.12	long leg	$1.1M	$1.9M	20x
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.75	−0.219%	$1.4M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0094%	8h	169.44	+0.192%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.45	+0.193%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.21	+0.053%	$2.5M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	169.62	+0.296%	$4K	$207K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.10	−0.012%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.21	+0.052%	$140	—	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.49	+0.219%	$8K	$21K	30x	as long as short
Phoenix MSTR	+0.0260%	1h	169.47	+0.209%	$57K	$384K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0282%	1h	169.11	−0.006%	$288K	$438K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.44	+0.189%	$276K	$440K	10x	as long as short
edgeX MSTRUSDC	+0.0567%	4h	169.82	+0.412%	$48K	$5.5M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0570%	8h	169.80	+0.402%	$78K	$871K	10x	as long as short