Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0062%/8h= +6.7% APRpaid last 24h −0.154%

Price spread now: ApeX Omni against edgeX−0.064%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1121.116% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.064%, 7d avg −0.008%

Together, before fees−0.025%+ Points / potential airdropedgeX: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.056% cheaper against edgeX than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of −0.008%). If the spread goes back, that is −$6 on $10k: about 3.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	164.50	0.0038	pay 0.0019% / 4h	3h 44m	$49K	$5.3M	10x
Short	ApeX Omni MSTRUSDT	164.39	0.0100	get 0.0013% / 1h	44m 14s	$6K	$182K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now −0.064%Rate

Funding earned: $12.93
Price spread: −0.064% → −0.008%: −$5.62
Slippage, 4 orders: −$92.64
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$104.33
Costs to cover: 1.116%
Break-even: 63.5 days

Slippage from edgeX: live order book, 5 min ago; ApeX Omni: live order book, 20 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 edgeX live order book, 5 min ago	5.47 bp	10.4 bp −$10	17.0 bp −$170	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 20 min ago	3.04 bp	44.3 bp −$44	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	−0.0882%	8h	164.41	−0.052%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.32	−0.110%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.35	−0.089%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.26	−0.144%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.09	−0.247%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.945%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAP	+0.0036%	8h	164.29	−0.125%	$20.7M	$99.5M	50x	as long as short
edgeX MSTRUSDClong	+0.0038%	4h	164.50	long leg	$49K	$5.3M	10x
Arcus MSTR-USD	+0.0040%	1h	164.48	−0.010%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.15	−0.210%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.24	−0.156%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.24	−0.156%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.27	−0.137%	$855K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.27	−0.137%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.23	−0.162%	$3.5M	$1.9M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.22	−0.170%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.26	−0.144%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	164.39	−0.064%	$6K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.24	−0.156%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	−0.030%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.27	−0.137%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.21	−0.172%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0160%	8h	164.28	−0.133%	$86.8M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.21	−0.174%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	−0.059%	$75K	$803K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.32	−0.104%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0243%	1h	164.20	−0.180%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	164.13	−0.225%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0281%	8h	164.36	−0.083%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0335%	8h	164.29	−0.125%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.022%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0847%	1h	164.29	−0.125%	$279K	$438K	10x	as long as short