Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.009%

Price spread now: KuCoin against Coinbase International+0.097%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now +0.097%, 7d avg +0.056%

Together, before fees−0.085%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.040% dearer against Coinbase International than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.056%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	165.51	0.0200	pay 0.0025% / 1h	9m 35s	$1.4M	$1.1M	10x
Short	KuCoin MSTRUSDTM	165.67	0.0100	get 0.0100% / 8h	5h 09m	$2.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$21
Price spread: +0.097% → +0.056%: $4.04
Slippage, 4 orders: −$52.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$91.86
Costs to cover: 0.749%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: live order book, 7 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 Coinbase International live order book, 4 min ago	4.84 bp	10.2 bp −$10	14.7 bp −$147	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	1.81 bp	20.0 bp −$20	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	−0.0881%	8h	165.75	+0.145%	$27.8M	$114.7M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.67	+0.096%	$1.9M	$8.5M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.72	+0.127%	$4.6M	$18.7M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.81	+0.181%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0001%	8h	165.63	+0.073%	$20.8M	$100.2M	50x	as long as short
Lighter MSTR	+0.0032%	1h	165.55	+0.024%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	165.54	+0.018%	$598K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.314%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.69	+0.109%	$27K	$110K	10x	as long as short
Variational Omni MSTR	+0.0040%	8h	165.63	+0.074%	$1.2M	$2.1M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.95	+0.266%	—	$1.7M	25x	as long as short
tradeXYZ xyz:MSTR	+0.0050%	1h	165.56	+0.030%	$55.1M	$36.8M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.75	+0.145%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.50	−0.006%	$882K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.62	+0.066%	$1.4M	$7.5M	10x	as long as short
SoDEX MSTR-USD	+0.0088%	1h	165.80	+0.175%	$44K	$3K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	165.54	+0.015%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	165.67	+0.097%	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	165.39	−0.073%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.80	+0.175%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.74	+0.140%	$138	—	10x	as long as short
Binance MSTRUSDT	+0.0111%	8h	165.62	+0.066%	$88.3M	$616.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0134%	8h	165.60	+0.053%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0163%	8h	165.50	−0.004%	$75K	$749K	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0200%	1h	165.51	long leg	$1.4M	$1.1M	10x
Nado MSTR-PERP	+0.0216%	1h	165.72	+0.128%	$122K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0229%	8h	165.79	+0.169%	$1.0M	$2.0M	20x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.70	+0.115%	$271K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	165.57	+0.034%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0342%	8h	165.72	+0.127%	$17.3M	$40.6M	50x	as long as short
edgeX MSTRUSDC	+0.0721%	4h	165.59	+0.050%	$51K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0837%	1h	165.81	+0.181%	$282K	$438K	10x	as long as short