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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h +0.012%
Price spread now: Bybit against ApeX Omni+0.221%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs−$108as in the Price arb table
costs, in and out, $10k−$1281.283% of the position
Long on ApeX OmniShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.045%+$4 on $10k
Price spread, last 4 days (all we have)−1.111%−$111 · spread now +0.221%, 7d avg +0.015%
Together, before fees−1.066%−$107 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.206% dearer against ApeX Omni than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.015%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni MSTRUSDT162.750.0100pay 0.0013% / 1h13m 02s$6K$182K50x
ShortBybit MSTRUSDT163.110.0408get 0.0408% / 8h13m 02s$17.1M$41.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$64.69
Price spread: +0.221% → +0.015%
$20.61
Slippage, 4 orders
−$107.3
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$43
Costs to cover
1.283%
Break-even
11.7 days
Slippage from ApeX Omni: live order book, 36 min ago; Bybit: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 36 min ago3.06 bp41.0 bp −$41doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 1 min ago0.31 bp9.1 bp −$913.3 bp −$133125.5 bp −$12.6Kdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0461%8h163.25+0.307%$29.5M$119.2M25xas long as short
Gate MSTR_USDT0.0000%8h163.18+0.264%$4.7M$19.6M50xas long as short
Phemex MSTRUSDT0.0000%4h163.12+0.227%$2.7M$83K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.02+0.166%$591K$2.1M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+4.049%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.05+0.184%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h162.93+0.111%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.11+0.221%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.09+0.209%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h162.81+0.037%$897K$3.7M10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter MSTR+0.0064%1h163.07+0.197%$3.5M$2.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.07+0.197%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0077%8h163.12+0.226%$1.8M$8.7M50xas long as short
Pacifica MSTR+0.0100%1h163.06+0.192%$100K$89K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.08+0.203%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTlong+0.0100%1h162.75long leg$6K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.14+0.240%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.16+0.251%$135—10xas long as short
Coinbase International MSTR-PERP-INTX+0.0136%1h162.62−0.080%$1.4M$1.1M10xas long as short
Paradex MSTR-USD-PERP+0.0145%8h163.11+0.222%$65—5xas long as short
Nado MSTR-PERP+0.0183%1h163.03+0.172%$125K$165K3xas long as short
Variational Omni MSTR+0.0199%8h162.87+0.074%$1.2M$2.0M—as long as short
OKX MSTR-USDT-SWAP+0.0201%8h163.12+0.227%$20.8M$99.9M50xas long as short
GRVT MSTR_USDT_Perp+0.0270%8h162.90+0.092%$79K$849K10xas long as short
Binance MSTRUSDT+0.0272%8h163.10+0.213%$83.8M$620.4M50xas long as short
edgeX MSTRUSDC+0.0324%4h162.80+0.028%$46K$5.4M10xas long as short
Phoenix MSTR+0.0357%1h163.12+0.227%$55K$223K10xas long as short
BloFin MSTR-USDT+0.0392%8h163.11+0.221%$1.0M$2.1M20xas long as short
Bybit MSTRUSDTshort+0.0408%8h163.11+0.221%$17.1M$41.7M50x
tradeXYZ xyz:MSTR+0.0450%1h163.11+0.221%$53.9M$37.7M10xas long as short
RISEx MSTR/USDC+0.0493%1h163.16+0.251%$268K$419K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0609%1h163.17+0.258%$277K$437K10xas long as short