Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.022%

Price spread now: Aster against ApeX Omni+0.017%69s7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as 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−$890.891% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 3 days (all we have)−0.166%−$17 · spread now +0.017%, 7d avg −0.015%

Together, before fees−0.243%+ Points / potential airdropAster: Stage 5 · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.032% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.015%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.077% in total) that is about 2.9 days. The two prices were read 69 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	ApeX Omni MSTRUSDT	168.92	0.0100	pay 0.0013% / 1h	8m 15s	$4K	$398K	50x
Short	Aster MSTRUSDT	168.95	0	get 0.0000% / 8h	1h 08m	$1.2M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$21
Price spread: +0.017% → −0.015%: $3.16
Slippage, 4 orders: −$71.09
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$106.92
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 21 min ago; Aster: live order book, 6 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 ApeX Omni live order book, 21 min ago	2.96 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	2.07 bp	8.0 bp −$8	313.7 bp −$3,137	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
Nado MSTR-PERP	−0.0066%	1h	168.89	−0.015%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0005%	8h	169.09	+0.101%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDTshort	0.0000%	8h	168.95	+0.017%	$1.2M	$6.1M	50x
Binance MSTRUSDT	0.0000%	8h	168.96	+0.024%	$89.2M	$628.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.95	+0.018%	$22.0M	$106.7M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.04	+0.071%	$275K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.90	−0.012%	$4.8M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.92	−0.002%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.10	+0.108%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.92	0.000%	$2.9M	$63K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	168.84	−0.047%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.90	−0.012%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0033%	8h	168.96	+0.024%	$28.8M	$119.5M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.09	+0.101%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.98	+0.036%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.93	+0.006%	$393K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.90	−0.012%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.63	−0.172%	$780K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.66	−0.154%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0065%	8h	168.96	+0.024%	$15.2M	$40.5M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0082%	8h	169.03	+0.068%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0094%	1h	168.94	+0.012%	$57.0M	$37.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.00	+0.049%	$104K	$103K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	168.99	+0.041%	$2.6M	$2.8M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	168.92	long leg	$4K	$398K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.95	+0.018%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.93	+0.009%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	+0.045%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.237%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.09	+0.101%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0466%	4h	168.94	+0.014%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0520%	1h	169.01	+0.053%	$287K	$439K	10x	as long as short