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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 06:00 UTC−0.0046%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h −0.013%
Price spread now: QFEX against ApeX Omni+0.024%7-day average −0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$100as in the Price arb table
costs, in and out, $10k−$1031.032% of the position
Long on ApeX OmniShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.112%−$11 on $10k
Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.024%, 7d avg −0.005%
Together, before fees−0.290%−$29 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.029% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.005%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 4 days (−0.112% in total) that is about 23 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni MSTRUSDT163.690.0100pay 0.0013% / 1h47m 02s$6K$182K50x
ShortQFEX MSTR-USD163.730.0054get 0.0007% / 1h47m 02s$1.4M$7.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX 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
−$9.76
Price spread: +0.024% → −0.005%
$2.91
Slippage, 4 orders
−$83.24
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$110.1
Costs to cover
1.032%
Break-even
never at this rate
Slippage from ApeX Omni: live order book, 12 min ago; QFEX: live order book, 7 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, 12 min ago3.06 bp51.6 bp −$52doesn't fitdoesn't fitdoesn't fit
Sell QFEX live order book, 7 min ago1.53 bp6.5 bp −$78.3 bp −$8315.2 bp −$1,523doesn'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−0.0965%8h163.83+0.086%$27.0M$117.1M25xas long as short
Aster MSTRUSDT0.0000%8h163.690.000%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.74+0.031%$4.6M$19.2M50xas long as short
Phemex MSTRUSDT0.0000%4h164.02+0.202%$2.8M$77K10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.50−0.116%$596K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.452%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.86+0.104%$26K$109K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.49−0.122%—$1.7M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.690.000%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.67−0.012%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h163.92+0.141%$830K$3.9M10xas long as short
QFEX MSTR-USDshort+0.0054%1h163.73+0.024%$1.4M$7.2M10x
OKX MSTR-USDT-SWAP+0.0071%8h163.68−0.006%$20.8M$99.7M50xas long as short
RISEx MSTR/USDC+0.0088%1h163.82+0.079%$266K$446K10xas long as short
Pacifica MSTR+0.0100%1h163.75+0.035%$100K$83K10xas long as short
KuCoin MSTRUSDTM+0.0100%8h163.62−0.043%$2.4M$2.7M20xas long as short
ApeX Omni MSTRUSDTlong+0.0100%1h163.69long leg$6K$182K50x
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.70+0.006%$4K$8K10xas long as short
Variational Omni MSTR+0.0103%8h163.88+0.114%$1.2M$2.1M—as long as short
Aevo MSTR-PERP+0.0104%1h163.70+0.006%$136—10xas long as short
Paradex MSTR-USD-PERP+0.0117%8h163.77+0.046%$66—5xas long as short
GRVT MSTR_USDT_Perp+0.0168%8h163.91+0.134%$79K$838K10xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.073%$1.4M$1.1M10xas long as short
Binance MSTRUSDT+0.0174%8h163.65−0.024%$85.7M$619.5M50xas long as short
Lighter MSTR+0.0216%1h163.63−0.037%$3.5M$1.9M10xas long as short
BloFin MSTR-USDT+0.0294%8h163.80+0.067%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0336%8h163.72+0.018%$16.7M$41.2M50xas long as short
tradeXYZ xyz:MSTR+0.0347%1h163.66−0.018%$54.5M$37.1M10xas long as short
Nado MSTR-PERP+0.0353%1h163.68−0.003%$121K$148K3xas long as short
Phoenix MSTR+0.0362%1h163.90+0.128%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0728%1h163.690.000%$278K$438K10xas long as short
edgeX MSTRUSDC+0.0945%4h163.74+0.032%$49K$5.4M10xas long as short