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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 05:00 UTC−0.0627%/8h= −68.6% APRnext payment −$0.78 per $10,000 · paid last 24h −0.186%
Price spread now: ApeX Omni against Deribit−0.287%74s7-day average −0.046% · you buy dearer than you sell
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−$1121.125% of the position
Long on DeribitShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)−0.531%−$53 on $10k
Price spread, last 4 days (all we have)+0.224%+$22 · spread now −0.287%, 7d avg −0.046%
Together, before fees−0.307%−$31 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and ApeX Omni is 0.240% cheaper against Deribit than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.046%). Swap the legs. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit MSTR_USDC-PERPETUAL163.970.0727pay 0.0091% / 1h6m 02s$279K$438K10x
ShortApeX Omni MSTRUSDT163.500.0100get 0.0013% / 1h6m 02s$6K$182K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Deribit. 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
−$131.62
Price spread: −0.287% → −0.046%
−$24.02
Slippage, 4 orders
−$95.47
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$268.11
Costs to cover
1.125%
Break-even
never at this rate
Slippage from Deribit: live order book, 48 min ago; ApeX Omni: live order book, 58 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 Deribit live order book, 48 min ago5.77 bp9.3 bp −$911.3 bp −$113doesn't fitdoesn't fit
Sell ApeX Omni live order book, 58 min ago3.04 bp44.3 bp −$44doesn'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 MSTRUSDT−0.0975%8h164.03+0.037%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.84−0.082%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.96−0.006%$4.6M$19.3M50xas long as short
Phemex MSTRUSDT0.0000%4h163.95−0.012%$2.8M$77K10xas long as short
Lighter MSTR+0.0032%1h163.90−0.043%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.70−0.165%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.275%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.84−0.079%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.92−0.030%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.58−0.238%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.81−0.098%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.86−0.067%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.47−0.305%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.83−0.085%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0073%8h163.86−0.068%$66—5xas long as short
Variational Omni MSTR+0.0091%8h163.89−0.051%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.87−0.060%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.82−0.091%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTshort+0.0100%1h163.50−0.287%$6K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.89−0.049%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.88−0.054%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0145%8h163.66−0.189%$83K$837K10xas long as short
Binance MSTRUSDT+0.0155%8h163.87−0.060%$86.0M$619.1M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.244%$1.4M$1.1M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.90−0.045%$266K$445K10xas long as short
Nado MSTR-PERP+0.0240%1h163.76−0.127%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0256%1h163.85−0.073%$54.6M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.82−0.091%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0316%8h163.94−0.018%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78−0.116%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0686%4h163.69−0.170%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUALlong+0.0727%1h163.97long leg$279K$438K10x