Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against ApeX Omni+0.049%7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.049% dearer against ApeX Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSTRUSDT	163.94	0.0100	pay 0.0013% / 1h	4m 44s	$5K	$182K	50x
Short	Orderly PERP_MSTR_USDC_mythos	164.02	0.0100	get 0.0100% / 8h	2h 04m	$2K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → 0.000%: $4.88
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$11.12
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 54 min ago; Orderly: no order-book sample. 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 ApeX Omni live order book, 54 min ago	3.06 bp	51.6 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1037%	8h	164.14	+0.122%	$28.3M	$119.0M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.04	+0.061%	$4.7M	$19.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.77	−0.104%	$2.8M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0018%	8h	163.95	+0.006%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.85	−0.052%	$511K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.294%	$8K	$26K	30x	as long as short
Vest MSTR-USD-PERP	+0.0033%	1h	164.12	+0.110%	—	$1.8M	25x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.03	+0.055%	$26K	$113K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.01	+0.043%	$378K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.77	−0.104%	$853K	$3.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	164.09	+0.091%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDC	+0.0088%	1h	164.15	+0.128%	$264K	$442K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.05	+0.065%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	163.94	0.000%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTlong	+0.0100%	1h	163.94	long leg	$5K	$182K	50x
Orderly PERP_MSTR_USDC_mythosshort	+0.0100%	8h	164.02	+0.049%	$2K	$13K	10x
Aevo MSTR-PERP	+0.0104%	1h	163.98	+0.022%	$136	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0122%	8h	163.93	−0.006%	$20.8M	$101.1M	50x	as long as short
Lighter MSTR	+0.0128%	1h	163.90	−0.024%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0146%	8h	164.20	+0.159%	$66	—	5x	as long as short
Variational Omni MSTR	+0.0147%	8h	164.18	+0.144%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−1.476%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0220%	8h	163.96	+0.009%	$84.1M	$629.0M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0236%	1h	163.86	−0.049%	$54.3M	$37.4M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0236%	8h	164.07	+0.081%	$79K	$854K	10x	as long as short
Nado MSTR-PERP	+0.0335%	1h	164.15	+0.126%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0341%	8h	163.97	+0.018%	$1.0M	$2.1M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0360%	1h	163.92	−0.012%	$279K	$438K	10x	as long as short
Phoenix MSTR	+0.0362%	1h	163.88	−0.037%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0372%	8h	164.00	+0.037%	$16.9M	$41.9M	50x	as long as short
SoDEX MSTR-USD	+0.0416%	1h	163.97	+0.018%	$43K	$3K	10x	as long as short
edgeX MSTRUSDC	+0.0838%	4h	164.00	+0.039%	$46K	$5.4M	10x	as long as short