Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin+0.110%82s7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as 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−$1371.366% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now +0.110%, 7d avg +0.018%

Together, before fees+0.190%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.092% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 82 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	KuCoin MSTRUSDTM	164.06	0.0100	pay 0.0100% / 8h	3h 40m	$2.4M	$2.7M	20x
Short	ApeX Omni MSTRUSDT	164.24	0.0100	get 0.0013% / 1h	40m 05s	$6K	$182K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.110%Rate

Funding earned: $0
Price spread: +0.110% → +0.018%: $9.17
Slippage, 4 orders: −$114.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$127.43
Costs to cover: 1.366%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; ApeX Omni: live order book, 24 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 KuCoin live order book, 2 min ago	2.44 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 24 min ago	3.04 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit

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	−0.0895%	8h	164.30	+0.146%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.10	+0.023%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.21	+0.091%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.14	+0.049%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.99	−0.046%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.218%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAP	+0.0038%	8h	164.21	+0.091%	$20.6M	$99.5M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.29	+0.140%	$26K	$109K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.94	−0.073%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.13	+0.043%	$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	164.14	+0.049%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.07	+0.006%	$853K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.17	+0.067%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.12	+0.037%	$3.5M	$1.9M	10x	as long as short
Variational Omni MSTR	+0.0094%	8h	164.16	+0.059%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.14	+0.048%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	164.06	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDTshort	+0.0100%	1h	164.24	+0.110%	$6K	$182K	50x
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.09	+0.018%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.12	+0.036%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.14	+0.047%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0158%	8h	164.13	+0.042%	$86.8M	$615.9M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0167%	8h	164.42	+0.218%	$75K	$803K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.96	−0.061%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.20	+0.085%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0252%	1h	164.08	+0.012%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0256%	1h	164.05	−0.008%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	164.12	+0.037%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0331%	8h	164.15	+0.055%	$16.7M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.288%	$56K	$226K	10x	as long as short
edgeX MSTRUSDC	+0.0797%	4h	164.29	+0.138%	$49K	$5.3M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0847%	1h	164.20	+0.085%	$279K	$438K	10x	as long as short