Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Aevo−0.061%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on KuCoin

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: KuCoin is 0.061% cheaper against Aevo than usual: you would sell low and buy high, −$6 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	Aevo MSTR-PERP	168.40	0.0104	pay 0.0013% / 1h	32m 21s	$140	—	10x
Short	KuCoin MSTRUSDTM	168.30	0.0100	get 0.0100% / 8h	7h 32m	$2.5M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Aevo. 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 AevobpFee KuCoinbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$0.84
Price spread: −0.061% → 0.000%: −$6.11
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$34.95
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; KuCoin: live order book, 5 min ago. 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 Aevo no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	3.56 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit

Aevo: 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
Nado MSTR-PERP	−0.0050%	1h	168.13	−0.162%	$139K	$90K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.31	−0.053%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.46	+0.034%	$21.7M	$101.0M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.41	+0.004%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.55	+0.087%	$28.4M	$114.0M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.67	+0.158%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.43	+0.017%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.38	−0.014%	$2.8M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.26	−0.085%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.31	−0.052%	$582K	$1.8M	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	+0.0035%	1h	168.28	−0.073%	$1.4M	$9.3M	10x	as long as short
Binance MSTRUSDT	+0.0039%	8h	168.43	+0.016%	$88.8M	$615.7M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.52	+0.070%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.25	−0.091%	—	$1.7M	25x	as long as short
BloFin MSTR-USDT	+0.0047%	8h	168.31	−0.055%	$1.1M	$1.9M	20x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.23	−0.103%	$395K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.29	−0.067%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.17	−0.138%	$761K	$5.0M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	+0.034%	$1.4M	$1.1M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0091%	8h	168.26	−0.083%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.31	−0.057%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	168.30	−0.061%	$2.5M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	168.66	+0.153%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.44	+0.022%	$3K	$8K	10x	as long as short
Bybit MSTRUSDT	+0.0103%	8h	168.44	+0.022%	$15.1M	$39.3M	50x	as long as short
Aevo MSTR-PERPlong	+0.0104%	1h	168.40	long leg	$140	—	10x
tradeXYZ xyz:MSTR	+0.0216%	1h	168.28	−0.073%	$56.8M	$35.3M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.556%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.74	+0.199%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.30	−0.059%	$274K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0958%	4h	168.47	+0.042%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1117%	1h	168.50	+0.058%	$287K	$438K	10x	as long as short