Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0724%/8h= −79.3% APRpaid last 24h −0.160%

Price spread now: KuCoin against edgeX−0.115%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.115%, 7d avg −0.020%

Together, before fees+0.062%+ Points / potential airdropedgeX: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and KuCoin is 0.095% cheaper against edgeX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSTRUSDC	164.54	0.0824	pay 0.0412% / 4h	19m 32s	$49K	$5.4M	10x
Short	KuCoin MSTRUSDTM	164.35	0.0100	get 0.0100% / 8h	4h 19m	$2.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against edgeX. 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 edgeXbpFee KuCoinbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$152.12
Price spread: −0.115% → −0.020%: −$9.48
Slippage, 4 orders: −$45.87
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$228.47
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; KuCoin: live order book, 2 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 edgeX live order book, 4 min ago	5.77 bp	10.8 bp −$11	17.7 bp −$177	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.43 bp	21.1 bp −$21	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	−0.0938%	8h	164.60	+0.037%	$27.8M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0004%	8h	164.44	−0.061%	$4.6M	$18.7M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.41	−0.081%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.48	−0.036%	$2.8M	$73K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0005%	8h	164.51	−0.018%	$20.6M	$99.5M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.36	−0.109%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.32	−0.130%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.918%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.47	−0.045%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.57	+0.019%	$26K	$109K	10x	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	164.38	−0.097%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.39	−0.091%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.45	−0.054%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.48	−0.036%	$852K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.47	−0.042%	$1.4M	$7.4M	10x	as long as short
Variational Omni MSTR	+0.0075%	8h	164.40	−0.082%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.41	−0.082%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	164.35	−0.115%	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	164.38	−0.097%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.43	−0.067%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.45	−0.055%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0135%	8h	164.40	−0.087%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0137%	8h	164.47	−0.042%	$87.6M	$616.6M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0157%	8h	164.67	+0.081%	$77K	$772K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.12	−0.255%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.52	−0.011%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0231%	1h	164.43	−0.067%	$54.8M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0242%	1h	164.28	−0.156%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0255%	8h	164.48	−0.036%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0357%	8h	164.49	−0.030%	$17.0M	$40.7M	50x	as long as short
edgeX MSTRUSDClong	+0.0824%	4h	164.54	long leg	$49K	$5.4M	10x
Deribit MSTR_USDC-PERPETUAL	+0.0846%	1h	164.47	−0.042%	$280K	$438K	10x	as long as short