MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0262%/8h= −28.7% APRnext payment −$0.33 per $10,000 · paid last 24h −0.054%

Price spread now: ApeX Omni against Phoenix−0.185%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1091.089% of the position

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.250%−$25 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.185%, 7d avg −0.015%

Together, before fees−0.196%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and ApeX Omni is 0.170% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSTR	162.41	0.0362	pay 0.0045% / 1h	26m 17s	$55K	$226K	10x
Short	ApeX Omni MSTRUSDT	162.11	0.0100	get 0.0013% / 1h	26m 17s	$6K	$182K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now −0.185%Rate

Funding earned: −$54.96
Price spread: −0.185% → −0.015%: −$16.99
Slippage, 4 orders: −$91.92
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$180.87
Costs to cover: 1.089%
Break-even: never at this rate

Slippage from Phoenix: live order book, 18 min ago; ApeX Omni: live order book, 33 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 Phoenix live order book, 18 min ago	2.69 bp	9.4 bp −$9	18.5 bp −$185	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 33 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	−0.1221%	8h	161.93	−0.296%	$26.7M	$117.8M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	161.70	−0.440%	$1.7M	$8.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	161.82	−0.363%	$4.6M	$19.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	162.30	−0.068%	$2.7M	$77K	10x	as long as short
Vest MSTR-USD-PERP	+0.0030%	1h	161.29	−0.690%	—	$1.8M	25x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	161.47	−0.579%	$495K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+4.267%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	162.10	−0.191%	$26K	$109K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	161.67	−0.456%	$373K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	161.64	−0.474%	$43K	$3K	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	161.62	−0.486%	$863K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	161.74	−0.413%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	161.75	−0.406%	$262K	$443K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0090%	8h	161.72	−0.425%	$20.4M	$99.5M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	161.72	−0.425%	$99K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	161.64	−0.474%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	162.11	−0.185%	$6K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	161.71	−0.431%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	161.71	−0.428%	$134	—	10x	as long as short
Variational Omni MSTR	+0.0124%	8h	162.32	−0.056%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0144%	1h	161.65	−0.468%	$3.4M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0145%	8h	161.68	−0.448%	$65	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−0.548%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0195%	8h	161.72	−0.427%	$83.5M	$627.8M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0209%	8h	162.29	−0.072%	$77K	$849K	10x	as long as short
BloFin MSTR-USDT	+0.0316%	8h	161.68	−0.449%	$1.0M	$2.1M	20x	as long as short
tradeXYZ xyz:MSTR	+0.0339%	1h	161.67	−0.456%	$53.7M	$37.4M	10x	as long as short
Phoenix MSTRlong	+0.0362%	1h	162.41	long leg	$55K	$226K	10x
Nado MSTR-PERP	+0.0369%	1h	161.64	−0.477%	$129K	$157K	3x	as long as short
Bybit MSTRUSDT	+0.0369%	8h	161.78	−0.388%	$16.7M	$41.8M	50x	as long as short
edgeX MSTRUSDC	+0.0491%	4h	162.30	−0.069%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0555%	1h	161.70	−0.437%	$275K	$438K	10x	as long as short