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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0237%/8h= +25.9% APRpaid last 24h +0.052%
Price spread now: BloFin against ApeX Omni+0.129%7-day average +0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$100as in the Price arb table
costs, in and out, $10k−$1111.106% of the position
Long on ApeX OmniShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.227%+$23 on $10k
Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.129%, 7d avg +0.025%
Together, before fees+0.099%+$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.103% dearer against ApeX Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.025%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni MSTRUSDT163.110.0100pay 0.0013% / 1h51m 03s$5K$182K50x
ShortBloFin MSTR-USDT163.320.0337get 0.0337% / 8h1h 51m$1.0M$2.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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
$49.73
Price spread: +0.129% → +0.025%
$10.33
Slippage, 4 orders
−$88.65
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$50.59
Costs to cover
1.106%
Break-even
14.1 days
Slippage from ApeX Omni: live order book, 3 min ago; BloFin: live order book, 2 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 ApeX Omni live order book, 3 min ago3.07 bp55.6 bp −$56doesn't fitdoesn't fitdoesn't fit
Sell BloFin live order book, 2 min ago0.61 bp8.4 bp −$810.1 bp −$10121.7 bp −$2,166doesn'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−0.0894%8h163.50+0.239%$28.7M$119.1M25xas long as short
Gate MSTR_USDT0.0000%8h163.35+0.147%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.37+0.159%$2.8M$78K10xas long as short
Aster MSTRUSDT+0.0017%8h163.26+0.090%$1.8M$8.7M50xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.09−0.012%$502K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.820%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.35+0.147%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.00−0.067%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.13+0.012%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.17+0.037%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.16+0.031%$842K$3.9M10xas long as short
QFEX MSTR-USD+0.0057%1h163.14+0.018%$1.3M$7.3M10xas long as short
Pacifica MSTR+0.0100%1h163.11−0.001%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.20+0.055%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTlong+0.0100%1h163.11long leg$5K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.22+0.067%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.23+0.076%$135—10xas long as short
OKX MSTR-USDT-SWAP+0.0120%8h163.34+0.141%$20.7M$100.7M50xas long as short
Paradex MSTR-USD-PERP+0.0141%8h163.110.000%$65—5xas long as short
Variational Omni MSTR+0.0143%8h163.37+0.157%$1.2M$2.1M—as long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−0.975%$1.4M$1.1M10xas long as short
tradeXYZ xyz:MSTR+0.0185%1h163.18+0.043%$54.1M$37.3M10xas long as short
Lighter MSTR+0.0192%1h163.21+0.061%$3.5M$2.0M10xas long as short
Binance MSTRUSDT+0.0217%8h163.29+0.108%$83.8M$628.7M50xas long as short
edgeX MSTRUSDC+0.0223%4h163.25+0.086%$46K$5.4M10xas long as short
GRVT MSTR_USDT_Perp+0.0229%8h163.32+0.128%$83K$865K10xas long as short
Nado MSTR-PERP+0.0302%1h163.03−0.047%$130K$157K3xas long as short
Phoenix MSTR+0.0328%1h163.31+0.121%$55K$223K10xas long as short
BloFin MSTR-USDTshort+0.0337%8h163.32+0.129%$1.0M$2.1M20x
Bybit MSTRUSDT+0.0374%8h163.33+0.135%$16.8M$41.8M50xas long as short
RISEx MSTR/USDC+0.0381%1h163.16+0.032%$262K$437K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0670%1h163.24+0.080%$278K$437K10xas long as short