Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Orderly−0.150%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.150% cheaper against Orderly than usual: you would sell low and buy high, −$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MSTR_USDC_mythos	166.17	0.0100	pay 0.0100% / 8h	6h 18m	$3K	$10K	10x
Short	ApeX Omni MSTRUSDT	165.92	0.0100	get 0.0013% / 1h	18m 59s	$6K	$162K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now −0.150%Rate

Funding earned: $0
Price spread: −0.150% → 0.000%: −$15.04
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$31.04
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 30 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 30 min ago	3.63 bp	67.1 bp −$67	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate MSTR_USDT	0.0000%	8h	166.17	0.000%	$4.9M	$18.4M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.18	+0.006%	$31.9M	$107.7M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.16	−0.006%	$2.8M	$85K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	166.02	−0.091%	$511K	$1.8M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.27	+0.060%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.10	−0.042%	$383K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.12	−0.030%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.89	−0.169%	$883K	$3.4M	10x	as long as short
Lighter MSTR	+0.0056%	1h	166.08	−0.054%	$3.5M	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0076%	1h	166.07	−0.060%	$1.3M	$6.4M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex MSTR-USD-PERP	+0.0096%	8h	166.10	−0.040%	$66	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	165.99	−0.109%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.00	−0.102%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	165.92	−0.150%	$6K	$162K	50x
Orderly PERP_MSTR_USDC_mythoslong	+0.0100%	8h	166.17	long leg	$3K	$10K	10x
Aevo MSTR-PERP	+0.0104%	1h	166.17	−0.001%	$138	—	10x	as long as short
Nado MSTR-PERP	+0.0107%	1h	166.01	−0.099%	$127K	$133K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	165.78	−0.235%	$1.4M	$399K	10x	as long as short
Aster MSTRUSDT	+0.0195%	8h	165.93	−0.144%	$1.8M	$7.4M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0256%	1h	166.10	−0.042%	$54.9M	$34.7M	10x	as long as short
Bybit MSTRUSDT	+0.0257%	8h	166.11	−0.036%	$17.2M	$38.8M	50x	as long as short
OKX MSTR-USDT-SWAP	+0.0266%	8h	166.11	−0.036%	$21.6M	$86.8M	50x	as long as short
Variational Omni MSTR	+0.0287%	8h	166.04	−0.078%	$1.2M	$1.7M	—	as long as short
Phoenix MSTR	+0.0355%	1h	166.15	−0.013%	$56K	$217K	10x	as long as short
Binance MSTRUSDT	+0.0379%	8h	166.10	−0.042%	$87.0M	$554.5M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0397%	8h	166.07	−0.060%	$88K	$852K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0413%	1h	166.12	−0.030%	$283K	$224K	10x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	165.22	−0.572%	$7K	$28K	30x	as long as short
BloFin MSTR-USDT	+0.0499%	8h	166.11	−0.036%	$1.1M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0598%	1h	166.12	−0.028%	$274K	$353K	10x	as long as short
edgeX MSTRUSDC	+0.0860%	4h	166.21	+0.026%	$50K	$5.1M	10x	as long as short
Arcus MSTR-USD	+0.0942%	1h	166.21	+0.024%	$26K	$77K	10x	as long as short