Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.016%

Price spread now: KuCoin against Lighter−0.047%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 7 days+0.055%+$6 · spread now −0.047%, 7d avg +0.038%

Together, before fees−0.045%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.086% cheaper against Lighter than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.038%). If the spread goes back, that is −$9 on $10k: about 4.2 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MSTR	168.97	0.0032	pay 0.0004% / 1h	7m 15s	$3.6M	$2.5M	10x
Short	KuCoin MSTRUSDTM	168.89	0.0100	get 0.0100% / 8h	1h 07m	$2.6M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $14.28
Price spread: −0.047% → +0.038%: −$8.57
Slippage, 4 orders: −$34.64
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$40.92
Costs to cover: 0.466%
Break-even: 27.1 days

Slippage from Lighter: live order book, 5 min ago; KuCoin: 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 Lighter live order book, 5 min ago	0.89 bp	4.0 bp −$4	9.0 bp −$90	33.7 bp −$3,367	doesn't fit
Sell KuCoin live order book, 5 min ago	0.89 bp	17.1 bp −$17	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
Nado MSTR-PERP	−0.0064%	1h	168.74	−0.139%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.87	−0.057%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.02	+0.032%	$89.2M	$628.7M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.06	+0.053%	$22.0M	$106.8M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.99	+0.012%	$275K	$442K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.95	−0.012%	$4.8M	$19.5M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	168.92	−0.031%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.06	+0.052%	$83K	$875K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.05	+0.047%	$2.9M	$63K	10x	as long as short
BloFin MSTR-USDT	+0.0004%	8h	169.07	+0.059%	$1.1M	$1.8M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MSTRlong	+0.0032%	1h	168.97	long leg	$3.6M	$2.5M	10x
Extended MSTR_24_5-USD	+0.0032%	1h	168.89	−0.049%	$585K	$1.8M	10x	as long as short
Bitget MSTRUSDT	+0.0032%	8h	169.01	+0.024%	$28.8M	$119.5M	25x	as long as short
QFEX MSTR-USD	+0.0042%	1h	168.91	−0.036%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.97	0.000%	—	$2.1M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.89	−0.047%	$392K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.98	+0.006%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.63	−0.201%	$780K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.024%	$1.5M	$1.2M	10x	as long as short
Bybit MSTRUSDT	+0.0064%	8h	169.06	+0.053%	$15.2M	$40.6M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0081%	8h	168.80	−0.103%	$68	—	5x	as long as short
tradeXYZ xyz:MSTR	+0.0094%	1h	168.89	−0.047%	$57.0M	$37.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	168.80	−0.101%	$103K	$103K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	168.89	−0.047%	$2.6M	$2.8M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	168.91	−0.036%	$4K	$398K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.96	−0.006%	$3K	$11K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.96	−0.005%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	+0.015%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.32	+0.207%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	168.99	+0.012%	$27K	$129K	10x	as long as short
edgeX MSTRUSDC	+0.0466%	4h	168.94	−0.015%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0697%	1h	169.05	+0.047%	$287K	$439K	10x	as long as short