MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.05 per $10,000 · paid last 24h −0.013%

Price spread now: QFEX against ApeX Omni+0.350%56s7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1101.098% of the position

Long on ApeX Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.453%−$45 · spread now +0.350%, 7d avg −0.006%

Together, before fees−0.566%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.356% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.350% now, against its 7-day average of −0.006%): +$36 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days. At the pace of the last 4 days (−0.113% in total) that is about 12 days. The two prices were read 56 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	162.70	0.0100	pay 0.0013% / 1h	25m 47s	$5K	$182K	50x
Short	QFEX MSTR-USD	163.27	0.0057	get 0.0007% / 1h	25m 47s	$1.3M	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.350%Rate

Funding earned: −$9.09
Price spread: +0.350% → −0.006%: $35.62
Slippage, 4 orders: −$89.77
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$83.23
Costs to cover: 1.098%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 28 min ago; QFEX: live order book, 8 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, 28 min ago	3.07 bp	55.6 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	2.15 bp	7.2 bp −$7	7.8 bp −$78	16.7 bp −$1,670	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	−0.0932%	8h	163.53	+0.510%	$28.9M	$118.8M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.46	+0.467%	$4.7M	$19.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.28	+0.356%	$2.7M	$79K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.27	+0.350%	$508K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.081%	$8K	$26K	30x	as long as short
Aster MSTRUSDT	+0.0037%	8h	163.18	+0.292%	$1.8M	$8.7M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.01	+0.191%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	162.95	+0.154%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	163.22	+0.320%	$378K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	163.24	+0.332%	$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	162.83	+0.080%	$857K	$3.9M	10x	as long as short
QFEX MSTR-USDshort	+0.0057%	1h	163.27	+0.350%	$1.3M	$7.2M	10x
Pacifica MSTR	+0.0100%	1h	163.36	+0.406%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.21	+0.313%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	162.70	long leg	$5K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.30	+0.369%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.31	+0.372%	$136	—	10x	as long as short
Lighter MSTR	+0.0152%	1h	163.36	+0.406%	$3.5M	$2.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0152%	1h	161.52	−0.725%	$1.4M	$1.1M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0154%	8h	163.42	+0.443%	$20.8M	$100.5M	50x	as long as short
Variational Omni MSTR	+0.0158%	8h	163.34	+0.391%	$1.2M	$2.1M	—	as long as short
Paradex MSTR-USD-PERP	+0.0168%	8h	163.34	+0.392%	$65	—	5x	as long as short
Binance MSTRUSDT	+0.0236%	8h	163.38	+0.418%	$84.0M	$627.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0242%	8h	162.87	+0.104%	$77K	$878K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0276%	1h	163.28	+0.356%	$54.2M	$37.4M	10x	as long as short
Phoenix MSTR	+0.0328%	1h	162.77	+0.044%	$55K	$223K	10x	as long as short
BloFin MSTR-USDT	+0.0352%	8h	163.17	+0.289%	$1.0M	$2.1M	20x	as long as short
Nado MSTR-PERP	+0.0357%	1h	163.04	+0.209%	$130K	$157K	3x	as long as short
RISEx MSTR/USDC	+0.0381%	1h	163.32	+0.381%	$265K	$428K	10x	as long as short
Bybit MSTRUSDT	+0.0388%	8h	163.39	+0.424%	$16.8M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0496%	4h	162.92	+0.133%	$46K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1160%	1h	163.37	+0.412%	$278K	$437K	10x	as long as short