MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h +0.001%

Price spread now: Coinbase International against ApeX Omni−0.811%75s7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as 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−$1171.166% of the position

Long on ApeX Omni Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 4 days (all we have)+0.880%+$88 · spread now −0.811%, 7d avg −0.082%

Together, before fees+1.031%+$103 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.729% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.811% now, against its 7-day average of −0.082%). If the spread goes back, that is −$73 on $10k: about 47 days of funding at the current rate (+$2 a day). The two prices were read 75 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	ApeX Omni MSTRUSDT	162.84	0.0100	pay 0.0013% / 1h	41m 48s	$5K	$182K	50x
Short	Coinbase International MSTR-PERP-INTX	161.52	0.0152	get 0.0019% / 1h	41m 48s	$1.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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

Position, each leg$Hold fordaysFee ApeX OmnibpFee Coinbase InternationalbpOrdersPrice spread, now −0.811%Rate

Funding earned: $10.92
Price spread: −0.811% → −0.082%: −$72.87
Slippage, 4 orders: −$96.57
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$178.51
Costs to cover: 1.166%
Break-even: 121.4 days

Slippage from ApeX Omni: live order book, 12 min ago; Coinbase International: live order book, 2 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 ApeX Omni live order book, 12 min ago	3.07 bp	55.6 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	5.22 bp	10.9 bp −$11	14.4 bp −$144	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	−0.0898%	8h	163.01	+0.104%	$28.7M	$119.1M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	162.85	+0.006%	$4.7M	$19.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.32	+0.295%	$2.7M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0025%	8h	162.77	−0.041%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.62	−0.138%	$501K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.992%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.03	+0.117%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.47	−0.227%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.72	−0.074%	$376K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.74	−0.061%	$43K	$3K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	162.77	−0.043%	$841K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.74	−0.061%	$1.3M	$7.3M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.78	−0.037%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.77	−0.043%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	162.84	long leg	$5K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.84	0.000%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.85	+0.007%	$135	—	10x	as long as short
Lighter MSTR	+0.0128%	1h	162.81	−0.018%	$3.5M	$2.0M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0134%	8h	162.88	+0.025%	$20.7M	$100.3M	50x	as long as short
Variational Omni MSTR	+0.0147%	8h	162.88	+0.022%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0150%	8h	162.74	−0.062%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0152%	1h	161.52	−0.811%	$1.4M	$1.1M	10x
edgeX MSTRUSDC	+0.0172%	4h	162.89	+0.032%	$46K	$5.4M	10x	as long as short
Binance MSTRUSDT	+0.0225%	8h	162.77	−0.042%	$83.6M	$628.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0232%	8h	163.04	+0.122%	$79K	$876K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0236%	1h	162.77	−0.043%	$54.0M	$37.3M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.99	+0.090%	$55K	$223K	10x	as long as short
Nado MSTR-PERP	+0.0335%	1h	162.75	−0.058%	$130K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0344%	8h	162.97	+0.080%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0378%	8h	162.83	−0.006%	$16.8M	$41.8M	50x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.82	−0.015%	$262K	$437K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0795%	1h	162.86	+0.012%	$277K	$437K	10x	as long as short