Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0142%/8h= +15.5% APRpaid last 24h −0.007%

Price spread now: ApeX Omni against Gate+0.183%51s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as 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−$1291.293% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now +0.183%, 7d avg +0.002%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and ApeX Omni is 0.181% dearer against Gate than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.002%. Mind the row above: over the last 7 days funding on this pair cost −0.204%, so the current rate has only just turned in your favour. The two prices were read 51 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	Gate MSTR_USDT	164.33	−0.0042	get 0.0042% / 8h	4h 38m	$4.6M	$18.5M	50x
Short	ApeX Omni MSTRUSDT	164.63	0.0100	get 0.0013% / 1h	38m 34s	$6K	$185K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.183%Rate

Funding earned: $29.82
Price spread: +0.183% → +0.002%: $18.07
Slippage, 4 orders: −$104.35
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$81.46
Costs to cover: 1.293%
Break-even: 26.1 days

Slippage from Gate: live order book, 5 min ago; ApeX Omni: live order book, 30 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 Gate live order book, 5 min ago	2.43 bp	24.1 bp −$24	54.6 bp −$546	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 30 min ago	3.02 bp	51.9 bp −$52	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	−0.0875%	8h	164.64	+0.189%	$27.7M	$115.1M	25x	as long as short
Gate MSTR_USDTlong	−0.0042%	8h	164.33	long leg	$4.6M	$18.5M	50x
Aster MSTRUSDT	0.0000%	8h	164.28	−0.029%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.54	+0.128%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	164.48	+0.091%	$20.6M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.26	−0.043%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.17	−0.097%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.049%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.33	−0.003%	$266K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.63	+0.183%	$26K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	164.35	+0.012%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.39	+0.037%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.34	+0.006%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.08	−0.152%	$866K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.31	−0.012%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0069%	8h	164.72	+0.240%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.33	−0.001%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.22	−0.067%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	164.63	+0.183%	$6K	$185K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.34	+0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.32	−0.003%	$136	—	10x	as long as short
Binance MSTRUSDT	+0.0129%	8h	164.45	+0.076%	$87.8M	$617.9M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.25	−0.051%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0165%	8h	164.79	+0.282%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.77	+0.268%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.59	+0.155%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0236%	1h	164.28	−0.030%	$54.8M	$36.9M	10x	as long as short
BloFin MSTR-USDT	+0.0249%	8h	164.38	+0.030%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0267%	1h	164.40	+0.041%	$121K	$148K	3x	as long as short
Bybit MSTRUSDT	+0.0375%	8h	164.49	+0.097%	$17.1M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0420%	1h	164.38	+0.030%	$280K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0951%	4h	164.67	+0.205%	$49K	$5.3M	10x	as long as short