Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h −0.017%

Price spread now: ApeX Omni against Aster−0.070%109s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as 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−$1051.054% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.070%, 7d avg +0.014%

Together, before fees+0.269%+ Points / potential airdropAster: Stage 5 · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.084% cheaper against Aster than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.014%). If the spread goes back, that is −$8 on $10k: about 3.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.079% in total) that is about 7.4 days. The two prices were read 109 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	Aster MSTRUSDT	164.07	0.0018	pay 0.0018% / 8h	2h 05m	$1.8M	$8.7M	50x
Short	ApeX Omni MSTRUSDT	163.96	0.0100	get 0.0013% / 1h	5m 37s	$5K	$182K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.070%Rate

Funding earned: $17.19
Price spread: −0.070% → +0.014%: −$8.38
Slippage, 4 orders: −$87.41
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$96.61
Costs to cover: 1.054%
Break-even: 46.3 days

Slippage from Aster: live order book, 3 min ago; ApeX Omni: live order book, 53 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 Aster live order book, 3 min ago	0.31 bp	9.0 bp −$9	131.1 bp −$1,311	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 53 min ago	3.06 bp	38.6 bp −$39	doesn't fit	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	−0.1037%	8h	164.34	+0.162%	$28.4M	$118.9M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.20	+0.077%	$4.7M	$19.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.89	−0.112%	$2.8M	$78K	10x	as long as short
edgeX MSTRUSDC	+0.0003%	4h	163.78	−0.181%	$45K	$5.4M	10x	as long as short
Aster MSTRUSDTlong	+0.0018%	8h	164.07	long leg	$1.8M	$8.7M	50x
Vest MSTR-USD-PERP	+0.0032%	1h	164.03	−0.027%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.03	−0.024%	$511K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.209%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.03	−0.027%	$26K	$113K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.05	−0.015%	$379K	$2.7M	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	163.77	−0.186%	$853K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.09	+0.010%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	164.15	+0.046%	$264K	$442K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.05	−0.017%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.09	+0.010%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	163.96	−0.070%	$5K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.20	+0.077%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.14	+0.042%	$136	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0123%	8h	164.15	+0.046%	$20.8M	$101.2M	50x	as long as short
Lighter MSTR	+0.0128%	1h	164.09	+0.010%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0146%	8h	164.20	+0.077%	$66	—	5x	as long as short
Variational Omni MSTR	+0.0147%	8h	164.18	+0.062%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−1.557%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0221%	8h	164.13	+0.034%	$84.2M	$629.2M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0237%	8h	164.02	−0.035%	$80K	$857K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0243%	1h	164.10	+0.016%	$54.4M	$37.4M	10x	as long as short
Nado MSTR-PERP	+0.0337%	1h	163.92	−0.097%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0338%	8h	164.04	−0.021%	$1.0M	$2.1M	20x	as long as short
Phoenix MSTR	+0.0362%	1h	163.88	−0.118%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0375%	8h	164.21	+0.083%	$16.8M	$41.9M	50x	as long as short
SoDEX MSTR-USD	+0.0414%	1h	164.16	+0.052%	$43K	$3K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0725%	1h	164.18	+0.064%	$279K	$438K	10x	as long as short