Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0062%/8h= −6.7% APRpaid last 24h +0.154%

Price spread now: edgeX against ApeX Omni+0.065%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1121.116% of the position

Long on ApeX Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.065%, 7d avg +0.008%

Together, before fees+0.025%+ Points / potential airdropedgeX: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.056% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.008%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSTRUSDT	164.39	0.0100	pay 0.0013% / 1h	44m 22s	$6K	$182K	50x
Short	edgeX MSTRUSDC	164.50	0.0038	get 0.0019% / 4h	3h 44m	$49K	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$12.93
Price spread: +0.065% → +0.008%: $5.62
Slippage, 4 orders: −$92.64
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$118.95
Costs to cover: 1.116%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 20 min ago; edgeX: live order book, 5 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, 20 min ago	3.04 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	5.47 bp	10.4 bp −$10	17.1 bp −$171	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	−0.0882%	8h	164.42	+0.018%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.32	−0.043%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.34	−0.030%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.42	+0.018%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.14	−0.149%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.011%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAP	+0.0036%	8h	164.34	−0.030%	$20.7M	$99.5M	50x	as long as short
edgeX MSTRUSDCshort	+0.0038%	4h	164.50	+0.065%	$49K	$5.3M	10x
Arcus MSTR-USD	+0.0040%	1h	164.48	+0.055%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.15	−0.146%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.24	−0.091%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.37	−0.012%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.27	−0.073%	$855K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.27	−0.073%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.22	−0.103%	$3.5M	$1.9M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.22	−0.106%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.26	−0.079%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	164.39	long leg	$6K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.24	−0.091%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	+0.034%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.40	+0.009%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.21	−0.108%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0160%	8h	164.27	−0.073%	$86.8M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.21	−0.109%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	+0.006%	$75K	$803K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.32	−0.040%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0243%	1h	164.20	−0.116%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	164.13	−0.161%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0281%	8h	164.36	−0.018%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0335%	8h	164.30	−0.055%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.086%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0907%	1h	164.40	+0.006%	$280K	$438K	10x	as long as short