MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0272%/8h= +29.7% APRnext payment +$2.72 per $10,000 · paid last 24h +0.012%

Price spread now: Bybit against KuCoin+0.134%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$800.802% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 7 days−0.095%−$9 · spread now +0.134%, 7d avg +0.034%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bybit is 0.100% dearer against KuCoin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.034%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.139% in total (about 7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.72 per $10,000. 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	KuCoin MSTRUSDTM	164.41	0.0100	pay 0.0100% / 8h	4h 42m	$2.4M	$2.7M	20x
Short	Bybit MSTRUSDT	164.63	0.0372	get 0.0372% / 8h	4h 42m	$17.1M	$40.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.134%Rate

Funding earned: $57.02
Price spread: +0.134% → +0.034%: $10
Slippage, 4 orders: −$57.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.19
Costs to cover: 0.802%
Break-even: 8.6 days

Slippage from KuCoin: live order book, 5 min ago; Bybit: 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 KuCoin live order book, 5 min ago	2.73 bp	42.1 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.21 bp	9.3 bp −$9	14.7 bp −$147	122.3 bp −$12.2K	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	−0.0850%	8h	164.64	+0.140%	$27.7M	$115.1M	25x	as long as short
Gate MSTR_USDT	−0.0038%	8h	164.54	+0.079%	$4.6M	$18.4M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.49	+0.048%	$1.8M	$8.5M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.61	+0.122%	$2.8M	$72K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0008%	8h	164.55	+0.085%	$20.6M	$99.7M	50x	as long as short
Lighter MSTR	+0.0032%	1h	164.52	+0.067%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.38	−0.015%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.999%	$8K	$26K	30x	as long as short
RISEx MSTR/USDC	+0.0034%	1h	164.50	+0.058%	$267K	$449K	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.71	+0.182%	$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	164.48	+0.043%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.46	+0.030%	$381K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.51	+0.061%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.52	+0.067%	$866K	$4.1M	10x	as long as short
QFEX MSTR-USD	+0.0054%	1h	164.51	+0.061%	$1.4M	$7.5M	10x	as long as short
Variational Omni MSTR	+0.0063%	8h	164.69	+0.173%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.48	+0.040%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	164.41	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	164.56	+0.091%	$6K	$185K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.54	+0.079%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.53	+0.075%	$137	—	10x	as long as short
Binance MSTRUSDT	+0.0126%	8h	164.55	+0.085%	$88.0M	$617.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0142%	8h	164.41	+0.002%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0162%	8h	164.73	+0.195%	$78K	$770K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.77	+0.219%	$1.4M	$1.1M	10x	as long as short
Phoenix MSTR	+0.0213%	1h	164.56	+0.090%	$56K	$226K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0242%	1h	164.51	+0.061%	$54.9M	$36.9M	10x	as long as short
BloFin MSTR-USDT	+0.0245%	8h	164.52	+0.067%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0279%	1h	164.34	−0.041%	$121K	$148K	3x	as long as short
Bybit MSTRUSDTshort	+0.0372%	8h	164.63	+0.134%	$17.1M	$40.7M	50x
edgeX MSTRUSDC	+0.0537%	4h	164.68	+0.161%	$49K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0601%	1h	164.60	+0.116%	$280K	$438K	10x	as long as short