Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.031%

Price spread now: ApeX Omni against Binance−0.247%79s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as 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−$1691.691% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

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

Price spread, last 2 days (all we have)+0.239%+$24 · spread now −0.247%, 7d avg −0.028%

Together, before fees+0.230%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.219% cheaper against Binance than usual: you would sell low and buy high (spread −0.247% now, against its 7-day average of −0.028%). If the spread goes back, that is −$22 on $10k: about 20 days of funding at the current rate (+$1 a day). 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	Binance MSTRUSDT	164.97	0.0063	pay 0.0063% / 8h	6h 18m	$87.9M	$624.1M	50x
Short	ApeX Omni MSTRUSDT	164.56	0.0100	get 0.0013% / 1h	18m 15s	$4K	$188K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.247%Rate

Funding earned: $7.84
Price spread: −0.247% → −0.028%: −$21.93
Slippage, 4 orders: −$149.12
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$183.21
Costs to cover: 1.691%
Break-even: 170.5 days

Slippage from Binance: live order book, 11 min ago; ApeX Omni: live order book, 61 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 Binance live order book, 11 min ago	0.30 bp	5.8 bp −$6	8.4 bp −$84	24.2 bp −$2,418	doesn't fit
Sell ApeX Omni live order book, 61 min ago	14.60 bp	58.7 bp −$59	doesn't fit	doesn't fit	doesn't fit

MSTR on 31 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	−0.1067%	8h	165.02	+0.032%	$27.6M	$115.8M	25x	as long as short
Gate MSTR_USDT	−0.0166%	8h	164.95	−0.010%	$4.6M	$19.1M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.66	−0.183%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.99	+0.014%	$20.9M	$101.0M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.65	−0.192%	$270K	$447K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.70	−0.159%	$1.2M	$2.1M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.07	+0.062%	$2.8M	$68K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.88	−0.056%	$596K	$2.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.78	−0.114%	$26K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.61	−0.217%	—	$1.8M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.48	−0.295%	$910K	$4.5M	10x	as long as short
SoDEX MSTR-USD	+0.0062%	1h	164.67	−0.180%	$43K	$3K	10x	as long as short
Binance MSTRUSDTlong	+0.0063%	8h	164.97	long leg	$87.9M	$624.1M	50x
QFEX MSTR-USD	+0.0064%	1h	164.75	−0.132%	$1.4M	$8.1M	10x	as long as short
Lighter MSTR	+0.0072%	1h	165.00	+0.020%	$3.5M	$1.9M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0090%	1h	164.62	−0.211%	$384K	$2.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.73	−0.144%	$101K	$89K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	164.76	−0.126%	$2.4M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDTshort	+0.0100%	1h	164.56	−0.247%	$4K	$188K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.65	−0.192%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.77	−0.120%	$137	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	165.00	+0.019%	$79K	$810K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.40	−0.344%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0175%	8h	164.73	−0.143%	$66	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0242%	1h	164.84	−0.077%	$55.2M	$36.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.651%	$8K	$26K	30x	as long as short
Nado MSTR-PERP	+0.0366%	1h	164.47	−0.300%	$111K	$143K	3x	as long as short
Phoenix MSTR	+0.0381%	1h	164.70	−0.164%	$55K	$219K	10x	as long as short
Bybit MSTRUSDT	+0.0386%	8h	165.09	+0.074%	$17.1M	$41.2M	50x	as long as short
edgeX MSTRUSDC	+0.0596%	4h	164.80	−0.103%	$48K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1449%	1h	165.08	+0.068%	$281K	$438K	10x	as long as short