Funding you earn now, next payment 12:00 UTC−0.0548%/8h= −60.0% APRnext payment −$0.69 per $10,000 · paid last 24h −0.181%
Price spread now: ApeX Omni against Deribit−0.108%46s7-day average −0.052% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1511.511% of the position
Funding, last 5 days (all we have)−0.591%−$59 on $10k
+Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.108%, 7d avg −0.052%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and ApeX Omni is 0.056% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.052%). Swap the legs. The two prices were read 46 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 | Deribit MSTR_USDC-PERPETUAL | 167.17 | 0.0648 | pay 0.0081% / 1h | 9m 32s | $284K | $171K | 10x |
| Short | ApeX Omni MSTRUSDT | 166.99 | 0.0100 | get 0.0013% / 1h | 9m 32s | $6K | $151K | 50x |
Deribit MSTR_USDC-PERPETUAL
ApeX Omni MSTRUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$115.1
- Price spread: −0.108% → −0.052%
- −$5.57
- Slippage, 4 orders
- −$134.13
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$271.8
- Costs to cover
- 1.511%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 32 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 Deribit live order book, 32 min ago | 1.80 bp | 12.5 bp −$12 | 16.8 bp −$168 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 29 min ago | 3.00 bp | 81.3 bp −$81 | doesn't fit | doesn't fit | doesn't fit |
MSTR on 32 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Extended MSTR_24_5-USD | −0.0296% | 1h | 167.00 | −0.102% | $1.4M | $2.8M | 10x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 167.33 | +0.096% | $4.8M | $17.6M | 50x | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 167.05 | −0.072% | $2.8M | $86K | 10x | as long as short |
| Lighter MSTR | +0.0032% | 1h | 167.23 | +0.036% | $3.6M | $1.7M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0033% | 1h | 165.22 | −1.166% | $7K | $28K | 30x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 167.40 | +0.138% | — | $1.6M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 167.20 | +0.018% | $386K | $2.5M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 166.99 | −0.108% | $822K | $3.3M | 10x | as long as short |
| QFEX MSTR-USD | +0.0054% | 1h | 167.25 | +0.048% | $1.3M | $5.5M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0056% | 1h | 166.14 | −0.616% | $1.4M | $354K | 10x | as long as short |
Extended MSTR_24_5-USD
Gate MSTR_USDT
Phemex MSTRUSDT
Lighter MSTR
Injective MSTR/USDC PERP
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
Ondo Perps MSTR-USD.P
QFEX MSTR-USD
Coinbase International MSTR-PERP-INTXShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex MSTR-USD-PERP | +0.0079% | 8h | 167.26 | +0.054% | $67 | — | 5x | as long as short |
| SoDEX MSTR-USD | +0.0086% | 1h | 167.06 | −0.066% | $44K | $3K | 10x | as long as short |
| Nado MSTR-PERP | +0.0092% | 1h | 167.17 | 0.000% | $145K | $135K | 3x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 167.21 | +0.026% | $103K | $66K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 167.21 | +0.024% | $2.4M | $2.8M | 20x | as long as short |
| ApeX Omni MSTRUSDTshort | +0.0100% | 1h | 166.99 | −0.108% | $6K | $151K | 50x | |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 167.17 | 0.000% | $2K | $11K | 10x | as long as short |
| Bitget MSTRUSDT | +0.0104% | 8h | 167.29 | +0.072% | $32.1M | $101.8M | 25x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 167.20 | +0.021% | $139 | $100 | 10x | as long as short |
| Bybit MSTRUSDT | +0.0139% | 8h | 167.28 | +0.066% | $16.0M | $38.0M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.0171% | 1h | 167.22 | +0.030% | $55.2M | $33.2M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.0236% | 8h | 167.27 | +0.060% | $22.2M | $78.8M | 50x | as long as short |
| Aster MSTRUSDT | +0.0242% | 8h | 167.21 | +0.024% | $1.8M | $6.0M | 50x | as long as short |
| Phoenix MSTR | +0.0308% | 1h | 167.02 | −0.090% | $56K | $213K | 10x | as long as short |
| Variational Omni MSTR | +0.0326% | 8h | 167.01 | −0.096% | $1.2M | $1.6M | — | as long as short |
| GRVT MSTR_USDT_Perp | +0.0346% | 8h | 167.11 | −0.035% | $85K | $994K | 10x | as long as short |
| Binance MSTRUSDT | +0.0417% | 8h | 167.24 | +0.042% | $87.3M | $509.6M | 50x | as long as short |
| edgeX MSTRUSDC | +0.0430% | 4h | 167.36 | +0.115% | $49K | $4.4M | 10x | as long as short |
| RISEx MSTR/USDC | +0.0459% | 1h | 167.30 | +0.078% | $302K | $353K | 10x | as long as short |
| BloFin MSTR-USDT | +0.0555% | 8h | 167.11 | −0.036% | $1.1M | $1.9M | 20x | as long as short |
| Deribit MSTR_USDC-PERPETUALlong | +0.0648% | 1h | 167.17 | long leg | $284K | $171K | 10x | |
| Arcus MSTR-USD | +0.0803% | 1h | 167.29 | +0.072% | $26K | $67K | 10x | as long as short |
Paradex MSTR-USD-PERP
SoDEX MSTR-USD
Nado MSTR-PERP
Pacifica MSTR
KuCoin MSTRUSDTM
Orderly PERP_MSTR_USDC_mythos
Bitget MSTRUSDT
Aevo MSTR-PERP
Bybit MSTRUSDT
tradeXYZ xyz:MSTR
OKX MSTR-USDT-SWAP
Aster MSTRUSDT
Phoenix MSTR
Variational Omni MSTR
GRVT MSTR_USDT_Perp
Binance MSTRUSDT
edgeX MSTRUSDC
RISEx MSTR/USDC
BloFin MSTR-USDT
Arcus MSTR-USD