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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0796%/8h= +87.2% APRpaid last 24h −0.005%
Price spread now: ApeX Omni against Bitget−0.128%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1121.116% of the position
Long on BitgetShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 7 days+0.056%+$6 on $10k
Price spread, last 4 days (all we have)+0.233%+$23 · spread now −0.128%, 7d avg −0.023%
Together, before fees+0.289%+$29 on $10k · with fees, hour by hour
Funding pays, the price is against you. ApeX Omni is 0.105% cheaper against Bitget than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.023%). If the spread goes back, that is −$10 on $10k: about 11 hours of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.056% in total) that is about 13 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.056% in total (about 2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget MSTRUSDT163.66−0.0696get 0.0696% / 8h1h 10m$29.1M$118.7M25x
ShortApeX Omni MSTRUSDT163.450.0100get 0.0013% / 1h10m 49s$5K$182K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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

Funding earned
$167.16
Price spread: −0.128% → −0.023%
−$10.49
Slippage, 4 orders
−$89.58
Fee Bitget: 6 bp × 2 orders
−$12
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
$45.09
Costs to cover
1.116%
Break-even
5.1 days
Slippage from Bitget: live order book, 3 min ago; ApeX Omni: live order book, 43 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bitget live order book, 3 min ago0.31 bp8.4 bp −$814.3 bp −$14326.0 bp −$2,596doesn't fit
Sell ApeX Omni live order book, 43 min ago3.07 bp39.9 bp −$40doesn't fitdoesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDTlong−0.0696%8h163.66long leg$29.1M$118.7M25x
Gate MSTR_USDT0.0000%8h163.58−0.049%$4.7M$19.7M50xas long as short
Phemex MSTRUSDT0.0000%4h163.59−0.043%$2.8M$79K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.29−0.223%$508K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.471%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.67+0.006%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.42−0.147%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.42−0.147%$378K$2.7M10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.52−0.086%$846K$3.9M10xas long as short
Aster MSTRUSDT+0.0055%8h163.39−0.164%$1.8M$8.7M50xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX MSTR-USD+0.0055%1h163.45−0.128%$43K$3K10xas long as short
QFEX MSTR-USD+0.0057%1h163.47−0.116%$1.3M$7.1M10xas long as short
Pacifica MSTR+0.0100%1h163.44−0.135%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.45−0.128%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTshort+0.0100%1h163.45−0.128%$5K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.45−0.128%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.48−0.110%$136—10xas long as short
Lighter MSTR+0.0112%1h163.38−0.171%$3.5M$2.0M10xas long as short
Coinbase International MSTR-PERP-INTX+0.0152%1h161.52−1.308%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0163%8h163.41−0.153%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0169%8h163.55−0.067%$20.8M$100.2M50xas long as short
Variational Omni MSTR+0.0177%8h163.46−0.119%$1.2M$2.1M—as long as short
tradeXYZ xyz:MSTR+0.0243%1h163.49−0.104%$54.2M$37.2M10xas long as short
Binance MSTRUSDT+0.0251%8h163.55−0.067%$84.1M$625.9M50xas long as short
GRVT MSTR_USDT_Perp+0.0266%8h163.67+0.006%$84K$867K10xas long as short
edgeX MSTRUSDC+0.0309%4h163.63−0.021%$46K$5.4M10xas long as short
Phoenix MSTR+0.0328%1h163.77+0.067%$56K$223K10xas long as short
Nado MSTR-PERP+0.0358%1h163.31−0.216%$130K$157K3xas long as short
BloFin MSTR-USDT+0.0371%8h163.52−0.086%$1.0M$2.1M20xas long as short
RISEx MSTR/USDC+0.0381%1h163.51−0.093%$265K$425K10xas long as short
Bybit MSTRUSDT+0.0388%8h163.52−0.086%$17.1M$41.8M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0975%1h163.48−0.110%$278K$437K10xas long as short