Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0012%/8h= +1.4% APRpaid last 24h −0.078%

Price spread now: KuCoin against RISEx−0.128%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on RISEx Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.329%−$33 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.128%, 7d avg −0.041%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.086% cheaper against RISEx than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.041%). If the spread goes back, that is −$9 on $10k: about 23 days of funding at the current rate ($0 a day). Mind the row above: over the last 4 days funding on this pair cost −0.329%, 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	RISEx MSTR/USDC	164.15	0.0088	pay 0.0011% / 1h	4m 54s	$264K	$442K	10x
Short	KuCoin MSTRUSDTM	163.94	0.0100	get 0.0100% / 8h	2h 04m	$2.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against RISEx. 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 RISExbpFee KuCoinbpOrdersPrice spread, now −0.128%Rate

Funding earned: $2.6
Price spread: −0.128% → −0.041%: −$8.65
Slippage, 4 orders: −$40.14
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$64.19
Costs to cover: 0.581%
Break-even: 179.6 days

Slippage from RISEx: live order book, 43 min ago; KuCoin: 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 RISEx live order book, 43 min ago	0.31 bp	3.3 bp −$3	4.5 bp −$45	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.13 bp	16.1 bp −$16	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	−0.1037%	8h	164.18	+0.018%	$28.4M	$119.0M	25x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.04	−0.067%	$4.7M	$19.8M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.77	−0.231%	$2.8M	$78K	10x	as long as short
Aster MSTRUSDT	+0.0018%	8h	163.93	−0.135%	$1.8M	$8.7M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.85	−0.180%	$511K	$2.0M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.162%	$8K	$26K	30x	as long as short
Vest MSTR-USD-PERP	+0.0033%	1h	164.12	−0.018%	—	$1.8M	25x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.03	−0.073%	$26K	$113K	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.01	−0.085%	$378K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.77	−0.231%	$853K	$3.9M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0054%	1h	164.09	−0.037%	$1.3M	$7.3M	10x	as long as short
RISEx MSTR/USDClong	+0.0088%	1h	164.15	long leg	$264K	$442K	10x
Pacifica MSTR	+0.0100%	1h	164.05	−0.063%	$101K	$83K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	163.94	−0.128%	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	163.94	−0.128%	$5K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.02	−0.079%	$2K	$13K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.98	−0.106%	$136	—	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0122%	8h	163.93	−0.134%	$20.8M	$101.1M	50x	as long as short
Lighter MSTR	+0.0128%	1h	163.92	−0.140%	$3.5M	$2.0M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0146%	8h	164.20	+0.031%	$66	—	5x	as long as short
Variational Omni MSTR	+0.0147%	8h	164.18	+0.016%	$1.2M	$2.1M	—	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	161.52	−1.602%	$1.4M	$1.1M	10x	as long as short
Binance MSTRUSDT	+0.0221%	8h	163.97	−0.110%	$84.1M	$629.3M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0236%	8h	164.07	−0.047%	$79K	$854K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0238%	1h	163.87	−0.171%	$54.3M	$37.4M	10x	as long as short
Nado MSTR-PERP	+0.0335%	1h	164.15	−0.002%	$131K	$157K	3x	as long as short
BloFin MSTR-USDT	+0.0341%	8h	163.97	−0.110%	$1.0M	$2.1M	20x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0360%	1h	163.92	−0.140%	$279K	$438K	10x	as long as short
Phoenix MSTR	+0.0362%	1h	163.88	−0.164%	$56K	$226K	10x	as long as short
Bybit MSTRUSDT	+0.0375%	8h	164.01	−0.085%	$16.9M	$41.9M	50x	as long as short
SoDEX MSTR-USD	+0.0416%	1h	163.97	−0.110%	$43K	$3K	10x	as long as short
edgeX MSTRUSDC	+0.0838%	4h	164.00	−0.089%	$46K	$5.4M	10x	as long as short