Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h +0.015%

Price spread now: KuCoin against Polymarket Perps−0.042%49s7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$780.783% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 7 days+0.055%+$6 · spread now −0.042%, 7d avg +0.043%

Together, before fees−0.099%−$10 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 KuCoin is 0.085% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.043%). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSTR-USD	164.88	0.0126	pay 0.0016% / 1h	44m 45s	$385K	$2.7M	10x
Short	KuCoin MSTRUSDTM	164.81	0.0100	get 0.0100% / 8h	6h 44m	$2.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Polymarket Perps. 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 Polymarket PerpsbpFee KuCoinbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$5.48
Price spread: −0.042% → +0.043%: −$8.51
Slippage, 4 orders: −$58.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$92.3
Costs to cover: 0.783%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; KuCoin: live order book, 7 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 Polymarket Perps live order book, 4 min ago	1.82 bp	8.7 bp −$9	11.3 bp −$113	13.5 bp −$1,354	doesn't fit
Sell KuCoin live order book, 7 min ago	2.42 bp	30.6 bp −$31	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	−0.0475%	8h	165.11	+0.139%	$27.2M	$115.6M	25x	as long as short
Gate MSTR_USDT	−0.0317%	8h	165.01	+0.079%	$4.6M	$18.8M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.89	+0.004%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.89	+0.006%	$21.1M	$100.2M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	164.96	+0.049%	$270K	$436K	10x	as long as short
Variational Omni MSTR	0.0000%	8h	164.99	+0.069%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	165.55	+0.405%	$76K	$809K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.49	+0.370%	$2.8M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0001%	8h	164.91	+0.018%	$87.2M	$624.4M	50x	as long as short
BloFin MSTR-USDT	+0.0011%	8h	165.55	+0.406%	$1.1M	$1.9M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	164.69	−0.118%	$568K	$1.9M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.27	+0.237%	$27K	$113K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.59	−0.176%	—	$1.8M	25x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.84	−0.024%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.77	−0.067%	$799K	$4.8M	10x	as long as short
QFEX MSTR-USD	+0.0064%	1h	164.93	+0.030%	$1.4M	$8.5M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.96	+0.045%	$102K	$85K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	164.81	−0.042%	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	164.86	−0.012%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.84	−0.024%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.84	−0.027%	$137	—	10x	as long as short
Polymarket Perps MSTR-USDlong	+0.0126%	1h	164.88	long leg	$385K	$2.7M	10x
Lighter MSTR	+0.0128%	1h	164.89	+0.006%	$3.5M	$1.9M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0153%	8h	164.82	−0.037%	$66	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	165.21	+0.200%	$1.4M	$1.1M	10x	as long as short
Injective MSTR/USDC PERP	+0.0341%	1h	169.34	+2.705%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTR	+0.0361%	1h	164.92	+0.024%	$55.7M	$36.5M	10x	as long as short
Phoenix MSTR	+0.0381%	1h	165.41	+0.323%	$55K	$219K	10x	as long as short
edgeX MSTRUSDC	+0.0389%	4h	165.28	+0.245%	$47K	$5.5M	10x	as long as short
Nado MSTR-PERP	+0.0409%	1h	164.80	−0.047%	$134K	$129K	3x	as long as short
Bybit MSTRUSDT	+0.0422%	8h	164.94	+0.036%	$17.2M	$41.1M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1268%	1h	164.89	+0.006%	$280K	$438K	10x	as long as short