Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.007%

Price spread now: Gate against ApeX Omni+0.178%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1281.284% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.178%, 7d avg +0.003%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.175% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.178% now, against its 7-day average of +0.003%): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.8 days. Mind the row above: over the last 7 days funding on this pair paid +0.204%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSTRUSDT	162.59	0.0100	pay 0.0013% / 1h	29m 16s	$5K	$182K	50x
Short	Gate MSTR_USDT	162.88	0	get 0.0000% / 8h	1h 29m	$4.7M	$19.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.178%Rate

Funding earned: −$21
Price spread: +0.178% → +0.003%: $17.54
Slippage, 4 orders: −$103.44
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$131.9
Costs to cover: 1.284%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 25 min ago; Gate: live order book, 4 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, 25 min ago	3.07 bp	55.6 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.53 bp	17.3 bp −$17	32.8 bp −$328	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	−0.0949%	8h	163.13	+0.332%	$28.7M	$118.7M	25x	as long as short
Gate MSTR_USDTshort	0.0000%	8h	162.88	+0.178%	$4.7M	$19.6M	50x
Phemex MSTRUSDT	0.0000%	4h	162.88	+0.178%	$2.7M	$78K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	162.67	+0.049%	$508K	$2.0M	10x	as long as short
Aster MSTRUSDT	+0.0033%	8h	162.83	+0.148%	$1.8M	$8.7M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.152%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.84	+0.154%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.55	−0.025%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	162.82	+0.141%	$377K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	162.83	+0.148%	$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	162.57	−0.012%	$849K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0057%	1h	162.90	+0.191%	$1.3M	$7.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	162.95	+0.222%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	162.78	+0.117%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	162.59	long leg	$5K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	162.85	+0.160%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	162.85	+0.162%	$135	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0149%	8h	162.87	+0.172%	$20.7M	$100.2M	50x	as long as short
Variational Omni MSTR	+0.0151%	8h	162.75	+0.096%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.658%	$1.4M	$1.1M	10x	as long as short
Lighter MSTR	+0.0160%	1h	162.93	+0.209%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0162%	8h	162.86	+0.167%	$65	—	5x	as long as short
Binance MSTRUSDT	+0.0230%	8h	162.87	+0.171%	$83.8M	$627.4M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0242%	8h	162.87	+0.172%	$77K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0280%	1h	162.77	+0.111%	$54.0M	$37.4M	10x	as long as short
edgeX MSTRUSDC	+0.0290%	4h	162.68	+0.055%	$45K	$5.4M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.77	+0.111%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0350%	8h	162.76	+0.105%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0351%	1h	162.81	+0.135%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	162.89	+0.185%	$264K	$428K	10x	as long as short
Bybit MSTRUSDT	+0.0382%	8h	162.85	+0.160%	$16.8M	$41.8M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0979%	1h	162.87	+0.172%	$277K	$437K	10x	as long as short