Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.031%

Price spread now: Binance against ApeX Omni+0.156%79s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as 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−$1031.029% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.156%, 7d avg +0.015%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.141% dearer against ApeX Omni than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.015%. The two prices were read 79 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	164.24	0.0100	pay 0.0013% / 1h	46m 15s	$6K	$186K	50x
Short	Binance MSTRUSDT	164.50	0.0161	get 0.0161% / 8h	3h 46m	$86.9M	$615.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.156%Rate

Funding earned: $12.76
Price spread: +0.156% → +0.015%: $14.08
Slippage, 4 orders: −$82.86
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$76.03
Costs to cover: 1.029%
Break-even: 48.7 days

Slippage from ApeX Omni: live order book, 18 min ago; Binance: live order book, 13 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, 18 min ago	3.04 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.30 bp	6.0 bp −$6	9.5 bp −$95	31.1 bp −$3,113	83.5 bp −$41.8K

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	164.61	+0.225%	$27.9M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.46	+0.135%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.49	+0.152%	$4.6M	$18.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.49	+0.152%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.29	+0.033%	$593K	$1.9M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0033%	8h	164.49	+0.152%	$20.7M	$99.6M	50x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.105%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.53	+0.177%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.31	+0.043%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.40	+0.097%	$380K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	164.45	+0.128%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.26	+0.012%	$855K	$4.0M	10x	as long as short
Lighter MSTR	+0.0056%	1h	164.43	+0.116%	$3.5M	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.43	+0.116%	$1.4M	$7.3M	10x	as long as short
Variational Omni MSTR	+0.0100%	8h	164.47	+0.138%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.36	+0.074%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.38	+0.085%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	164.24	long leg	$6K	$186K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.46	+0.134%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.46	+0.134%	$137	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0139%	8h	164.35	+0.068%	$66	—	5x	as long as short
Binance MSTRUSDTshort	+0.0161%	8h	164.50	+0.156%	$86.9M	$615.8M	50x
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.46	+0.134%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	+0.097%	$75K	$803K	10x	as long as short
edgeX MSTRUSDC	+0.0198%	4h	164.28	+0.023%	$49K	$5.3M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.44	+0.119%	$267K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0246%	1h	164.27	+0.017%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0247%	1h	164.40	+0.097%	$54.8M	$37.0M	10x	as long as short
BloFin MSTR-USDT	+0.0282%	8h	164.38	+0.085%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0339%	8h	164.50	+0.158%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.38	+0.085%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0845%	1h	164.51	+0.164%	$280K	$438K	10x	as long as short