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Funding arb · Price arb /

MSTR

RWAall MSTR markets
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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Phemex against KuCoin−0.073%7-day average +0.045% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on KuCoinShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.143%−$14 on $10k
Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.073%, 7d avg +0.045%
Together, before fees−0.096%−$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.118% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.045%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin MSTRUSDTM163.850.0100pay 0.0100% / 8h3h 21m$2.4M$2.7M20x
ShortPhemex MSTRUSDT163.730get 0.0000% / 4h3h 21m$2.8M$77K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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

Funding earned
−$21
Price spread: −0.073% → +0.045%
−$11.82
Slippage, 4 orders
no order book: not counted
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$56.82
Costs to cover
0.240%
Break-even
never at this rate
Slippage unknown: KuCoin: live order book, 5 min ago; Phemex: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 5 min ago2.75 bp27.3 bp −$27doesn't fitdoesn't fitdoesn't fit
Sell Phemex live order book, 2 min ago0.61 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0948%8h164.17+0.195%$27.3M$116.3M25xas long as short
Aster MSTRUSDT0.0000%8h163.96+0.066%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h164.04+0.116%$4.6M$19.2M50xas long as short
Phemex MSTRUSDTshort0.0000%4h163.73−0.073%$2.8M$77K10x
Lighter MSTR+0.0032%1h163.93+0.049%$3.5M$1.9M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.88+0.015%$588K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.351%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.95+0.061%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0045%8h164.02+0.104%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.51−0.208%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.63−0.134%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.72−0.079%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.54−0.189%$846K$3.9M10xas long as short
Paradex MSTR-USD-PERP+0.0065%8h163.98+0.080%$66—5xas long as short
QFEX MSTR-USD+0.0067%1h163.65−0.122%$1.4M$7.3M10xas long as short
Pacifica MSTR+0.0100%1h163.93+0.046%$100K$84K10xas long as short
KuCoin MSTRUSDTMlong+0.0100%8h163.85long leg$2.4M$2.7M20x
ApeX Omni MSTRUSDT+0.0100%1h163.88+0.018%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.67−0.110%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.69−0.100%$136—10xas long as short
Variational Omni MSTR+0.0106%8h163.95+0.064%$1.2M$2.1M—as long as short
Binance MSTRUSDT+0.0165%8h163.98+0.080%$86.6M$617.5M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.88+0.018%$1.4M$1.1M10xas long as short
GRVT MSTR_USDT_Perp+0.0171%8h164.00+0.092%$75K$825K10xas long as short
RISEx MSTR/USDC+0.0231%1h164.03+0.110%$266K$445K10xas long as short
Nado MSTR-PERP+0.0258%1h163.54−0.186%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0260%1h163.96+0.067%$54.6M$37.1M10xas long as short
BloFin MSTR-USDT+0.0288%8h163.84−0.006%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0325%8h164.04+0.116%$16.6M$41.1M50xas long as short
Phoenix MSTR+0.0340%1h163.95+0.063%$56K$226K10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0606%1h163.72−0.079%$278K$438K10xas long as short
edgeX MSTRUSDC+0.0656%4h163.98+0.081%$49K$5.3M10xas long as short