Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.082%

Price spread now: ApeX Omni against Gate−0.153%81s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as 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−$1321.317% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 3 days (all we have)+0.430%+$43 · spread now −0.153%, 7d avg +0.006%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.159% cheaper against Gate than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of +0.006%). If the spread goes back, that is −$16 on $10k: about 5.3 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.204%, so the current rate has only just turned in your favour. The two prices were read 81 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	Gate MSTR_USDT	169.53	0	get 0.0000% / 8h	2h 26m	$4.8M	$19.6M	50x
Short	ApeX Omni MSTRUSDT	169.27	0.0100	get 0.0013% / 1h	26m 01s	$4K	$979K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.153%Rate

Funding earned: $21
Price spread: −0.153% → +0.006%: −$15.91
Slippage, 4 orders: −$106.75
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$126.66
Costs to cover: 1.317%
Break-even: 49.2 days

Slippage from Gate: live order book, 3 min ago; ApeX Omni: live order book, 8 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 Gate live order book, 3 min ago	2.07 bp	20.3 bp −$20	40.1 bp −$401	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 8 min ago	2.95 bp	45.2 bp −$45	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	−0.0091%	1h	169.37	−0.095%	$139K	$98K	3x	as long as short
BloFin MSTR-USDT	−0.0027%	8h	169.45	−0.047%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.43	−0.059%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.53	0.000%	$88.8M	$629.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.59	+0.035%	$22.1M	$107.6M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.50	−0.019%	$296K	$436K	10x	as long as short
Gate MSTR_USDTlong	0.0000%	8h	169.53	long leg	$4.8M	$19.6M	50x
Variational Omni MSTR	0.0000%	8h	169.30	−0.137%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.28	−0.150%	$83K	$948K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.56	+0.018%	$2.9M	$57K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.47	−0.035%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.35	−0.107%	$588K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0039%	1h	169.46	−0.041%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.68	+0.088%	—	$2.1M	25x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0048%	1h	169.11	−0.248%	$1.5M	$1.2M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	169.48	−0.029%	$56.7M	$38.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.48	−0.029%	$412K	$2.6M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.50	−0.018%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.27	−0.153%	$763K	$5.1M	10x	as long as short
Bitget MSTRUSDT	+0.0069%	8h	169.56	+0.018%	$28.9M	$119.8M	25x	as long as short
Paradex MSTR-USD-PERP	+0.0070%	8h	169.45	−0.047%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0091%	8h	169.55	+0.012%	$15.2M	$41.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	169.47	−0.032%	$104K	$137K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	169.33	−0.118%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	169.27	−0.153%	$4K	$979K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.45	−0.047%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.43	−0.061%	$141	—	10x	as long as short
Phoenix MSTR	+0.0184%	1h	169.27	−0.152%	$57K	$396K	10x	as long as short
edgeX MSTRUSDC	+0.0358%	4h	169.27	−0.153%	$49K	$5.4M	10x	as long as short
Arcus MSTR-USD	+0.0432%	1h	169.52	−0.006%	$27K	$134K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	169.10	−0.254%	$13K	$22K	30x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0754%	1h	169.57	+0.024%	$288K	$438K	10x	as long as short