Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin+0.129%52s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as 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−$1521.524% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.129%, 7d avg +0.019%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.110% dearer against KuCoin than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 52 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	KuCoin MSTRUSDTM	162.89	0.0100	pay 0.0100% / 8h	1h 46m	$2.4M	$2.7M	20x
Short	ApeX Omni MSTRUSDT	163.10	0.0100	get 0.0013% / 1h	46m 26s	$5K	$182K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.129%Rate

Funding earned: $0
Price spread: +0.129% → +0.019%: $10.97
Slippage, 4 orders: −$130.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$141.39
Costs to cover: 1.524%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 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 KuCoin live order book, 10 min ago	1.84 bp	32.0 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 8 min ago	3.07 bp	39.9 bp −$40	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
Bitget MSTRUSDT	−0.0885%	8h	163.10	+0.129%	$28.6M	$119.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.01	+0.074%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.26	+0.227%	$2.7M	$78K	10x	as long as short
edgeX MSTRUSDC	+0.0005%	4h	163.27	+0.231%	$46K	$5.4M	10x	as long as short
Aster MSTRUSDT	+0.0022%	8h	162.92	+0.017%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.75	−0.086%	$501K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.960%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.22	+0.203%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.69	−0.123%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.86	−0.018%	$376K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	163.02	+0.080%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.98	+0.055%	$841K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.92	+0.018%	$1.3M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.92	+0.019%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	162.89	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDTshort	+0.0100%	1h	163.10	+0.129%	$5K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.05	+0.098%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.06	+0.104%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0124%	8h	162.93	+0.025%	$20.7M	$100.4M	50x	as long as short
Variational Omni MSTR	+0.0143%	8h	163.26	+0.226%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0146%	8h	162.87	−0.013%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.841%	$1.4M	$1.1M	10x	as long as short
Lighter MSTR	+0.0160%	1h	162.87	−0.012%	$3.5M	$2.0M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0214%	1h	162.87	−0.012%	$54.0M	$37.3M	10x	as long as short
Binance MSTRUSDT	+0.0221%	8h	162.91	+0.012%	$83.6M	$628.3M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0230%	8h	163.31	+0.258%	$79K	$876K	10x	as long as short
Nado MSTR-PERP	+0.0315%	1h	162.97	+0.051%	$130K	$157K	3x	as long as short
Phoenix MSTR	+0.0328%	1h	163.25	+0.220%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0340%	8h	163.05	+0.098%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0381%	8h	162.97	+0.049%	$16.7M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.93	+0.021%	$262K	$437K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0794%	1h	163.08	+0.117%	$277K	$437K	10x	as long as short