Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.001%

Price spread now: Coinbase International against KuCoin−0.278%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$740.743% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 3 days (all we have)+0.287%+$29 · spread now −0.278%, 7d avg −0.054%

Together, before fees+0.539%+$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.224% cheaper against KuCoin than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.054%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.253%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSTRUSDTM	169.13	0.0100	pay 0.0100% / 8h	1h 13m	$2.6M	$2.8M	20x
Short	Coinbase International MSTR-PERP-INTX	168.66	0.0056	get 0.0007% / 1h	13m 48s	$1.5M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.278%Rate

Funding earned: −$9.24
Price spread: −0.278% → −0.054%: −$22.37
Slippage, 4 orders: −$52.26
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$105.87
Costs to cover: 0.743%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Coinbase International: live order book, 5 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, 3 min ago	3.25 bp	29.4 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	7.38 bp	12.4 bp −$12	14.6 bp −$146	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
Nado MSTR-PERP	−0.0070%	1h	169.10	−0.015%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0028%	8h	169.28	+0.089%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.12	−0.006%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.19	+0.035%	$89.3M	$628.8M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.19	+0.035%	$22.1M	$106.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.21	+0.047%	$276K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.13	0.000%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.28	+0.091%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.35	+0.133%	$83K	$889K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.17	+0.024%	$2.9M	$63K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTR	+0.0032%	1h	169.13	0.000%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.10	−0.018%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0034%	8h	169.18	+0.030%	$28.8M	$119.5M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.19	+0.035%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.25	+0.071%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.14	+0.006%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.16	+0.018%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.10	−0.018%	$781K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0056%	1h	168.66	−0.278%	$1.5M	$1.2M	10x
Bybit MSTRUSDT	+0.0064%	8h	169.17	+0.024%	$15.2M	$40.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0081%	8h	169.14	+0.009%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0090%	1h	169.13	0.000%	$57.0M	$37.7M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.15	+0.009%	$104K	$105K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	169.13	long leg	$2.6M	$2.8M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	169.10	−0.018%	$4K	$406K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.16	+0.018%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.18	+0.031%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.37	+0.142%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.112%	$13K	$22K	30x	as long as short
edgeX MSTRUSDC	+0.0348%	4h	169.33	+0.119%	$48K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0400%	1h	169.22	+0.053%	$288K	$439K	10x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.25	+0.071%	$27K	$129K	10x	as long as short