Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against Variational Omni+0.171%7-day average −0.019% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.185%−$19 · spread now +0.171%, 7d avg −0.019%

Together, before fees−0.121%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.190% dearer against Variational Omni than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSTR	166.01	0	get 0.0000% / 8h	7h 00m	$1.2M	$2.0M	—
Short	ApeX Omni MSTRUSDT	166.29	0.0100	get 0.0013% / 1h	0m 51s	$4K	$204K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.171%Rate

Funding earned: $21
Price spread: +0.171% → −0.019%: $19.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $30.05
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; ApeX Omni: live order book, 18 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	2.96 bp	doesn't fit	9.4 bp −$94	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 18 min ago	14.60 bp	58.7 bp −$59	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
Gate MSTR_USDT	−0.0265%	8h	166.13	+0.075%	$4.6M	$19.3M	50x	as long as short
BloFin MSTR-USDT	−0.0029%	8h	166.03	+0.014%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.91	−0.060%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.13	+0.075%	$87.6M	$616.0M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.07	+0.039%	$21.4M	$99.7M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.16	+0.093%	$27.3M	$114.0M	25x	as long as short
Variational Omni MSTRlong	0.0000%	8h	166.01	long leg	$1.2M	$2.0M	—
GRVT MSTR_USDT_Perp	0.0000%	8h	166.87	+0.521%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.38	+0.225%	$2.8M	$67K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.94	−0.040%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.88	−0.076%	$571K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.03	+0.014%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.62	+0.370%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	165.72	−0.172%	—	$1.8M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.99	−0.010%	$389K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.06	+0.033%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.75	−0.154%	$768K	$4.7M	10x	as long as short
Nado MSTR-PERP	+0.0070%	1h	165.79	−0.130%	$134K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	165.95	−0.034%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.10	+0.060%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	166.00	−0.004%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	166.29	+0.171%	$4K	$204K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.93	−0.046%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.85	−0.091%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0108%	8h	165.97	−0.019%	$66	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+2.008%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0250%	1h	165.95	−0.034%	$56.1M	$35.9M	10x	as long as short
Phoenix MSTR	+0.0259%	1h	166.44	+0.263%	$56K	$384K	10x	as long as short
Bybit MSTRUSDT	+0.0287%	8h	166.18	+0.105%	$16.7M	$40.3M	50x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.07	+0.040%	$271K	$435K	10x	as long as short
edgeX MSTRUSDC	+0.0663%	4h	166.58	+0.346%	$43K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1259%	1h	165.97	−0.022%	$282K	$438K	10x	as long as short