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Funding arb · Price arb /

MSTR

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 09:00 UTC−0.0470%/8h= −51.5% APRpaid last 24h −0.185%
Price spread now: ApeX Omni against edgeX−0.226%7-day average −0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$141as in the Funding arb table
Net, price: spread back to 7d avg − costs−$153as in the Price arb table
costs, in and out, $10k−$1321.319% of the position
Long on edgeXShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 7 days−0.093%−$9 on $10k
Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.226%, 7d avg −0.012%
Together, before fees+0.040%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and ApeX Omni is 0.214% cheaper against edgeX than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.093% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX MSTRUSDC163.650.0570pay 0.0285% / 4h3h 45m$47K$5.4M10x
ShortApeX Omni MSTRUSDT163.280.0100get 0.0013% / 1h45m 05s$6K$182K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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

Funding earned
−$98.74
Price spread: −0.226% → −0.012%
−$21.43
Slippage, 4 orders
−$112.85
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$252.02
Costs to cover
1.319%
Break-even
never at this rate
Slippage from edgeX: live order book, 4 min ago; ApeX Omni: live order book, 64 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy edgeX live order book, 4 min ago5.20 bp10.7 bp −$1117.6 bp −$176doesn't fitdoesn't fit
Sell ApeX Omni live order book, 64 min ago3.06 bp69.9 bp −$70doesn't fitdoesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0198%8h163.53−0.074%$30.2M$118.5M25xas long as short
Phemex MSTRUSDT0.0000%4h163.44−0.129%$2.7M$85K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.18−0.287%$592K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.477%$8K$25K30xas long as short
Arcus MSTR-USD+0.0040%1h163.47−0.110%$26K$114K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.25−0.245%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.15−0.306%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.42−0.141%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.39−0.159%$892K$3.7M10xas long as short
QFEX MSTR-USD+0.0061%1h163.31−0.208%$1.3M$7.0M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Pacifica MSTR+0.0100%1h163.35−0.185%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.39−0.159%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTshort+0.0100%1h163.28−0.226%$6K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.46−0.116%$3K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.44−0.129%$136—10xas long as short
Gate MSTR_USDT+0.0112%8h163.54−0.068%$4.7M$18.5M50xas long as short
Lighter MSTR+0.0120%1h163.36−0.178%$3.5M$1.7M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0120%1h162.62−0.630%$1.4M$1.1M10xas long as short
Aster MSTRUSDT+0.0121%8h163.46−0.117%$1.8M$8.7M50xas long as short
Paradex MSTR-USD-PERP+0.0164%8h163.38−0.167%$65—5xas long as short
Nado MSTR-PERP+0.0174%1h163.17−0.292%$125K$165K3xas long as short
OKX MSTR-USDT-SWAP+0.0230%8h163.49−0.098%$20.9M$99.4M50xas long as short
Variational Omni MSTR+0.0237%8h163.36−0.179%$1.2M$2.0M—as long as short
Binance MSTRUSDT+0.0316%8h163.46−0.118%$84.3M$619.1M50xas long as short
RISEx MSTR/USDC+0.0400%1h163.40−0.153%$268K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0432%1h163.45−0.123%$53.9M$37.6M10xas long as short
BloFin MSTR-USDT+0.0436%8h163.49−0.098%$1.0M$2.1M20xas long as short
Phoenix MSTR+0.0460%1h163.65−0.002%$56K$223K10xas long as short
edgeX MSTRUSDClong+0.0570%4h163.65long leg$47K$5.4M10x
Bybit MSTRUSDT+0.0632%8h163.50−0.092%$17.1M$41.3M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0914%1h163.38−0.165%$278K$432K10xas long as short
GRVT MSTR_USDT_Perp+0.1038%8h163.62−0.017%$80K$848K10xas long as short