Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.043%

Price spread now: KuCoin against SoDEX−0.030%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.030% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 47 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSTR-USD	169.12	0.0050	pay 0.0006% / 1h	45m 07s	$44K	$3K	10x
Short	KuCoin MSTRUSDTM	169.07	0.0100	get 0.0100% / 8h	1h 45m	$2.6M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SoDEX. 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 SoDEXbpFee KuCoinbpOrdersPrice spread, now −0.030%Rate

Funding earned: $10.5
Price spread: −0.030% → 0.000%: −$2.96
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$12.46
Costs to cover: 0.200%
Break-even: 15.3 days

Slippage unknown: SoDEX: no order-book sample; KuCoin: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SoDEX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	2.37 bp	18.3 bp −$18	doesn't fit	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0100%	1h	169.09	−0.018%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	−0.0012%	8h	169.16	+0.024%	$1.1M	$1.8M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.20	+0.047%	$1.3M	$6.2M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	169.18	+0.037%	$88.4M	$629.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.15	+0.018%	$22.1M	$106.9M	50x	as long as short
RISEx MSTR/USDC	0.0000%	1h	169.18	+0.038%	$275K	$446K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.18	+0.035%	$4.8M	$19.3M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.03	−0.054%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.10	−0.012%	$74K	$935K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.16	+0.024%	$2.9M	$60K	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	169.16	+0.024%	$3.6M	$2.5M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.04	−0.046%	$585K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0042%	1h	169.17	+0.030%	$1.5M	$10.2M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.20	+0.047%	—	$2.1M	25x	as long as short
Bitget MSTRUSDT	+0.0047%	8h	169.17	+0.030%	$28.8M	$119.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.11	−0.006%	$401K	$2.6M	10x	as long as short
SoDEX MSTR-USDlong	+0.0050%	1h	169.12	long leg	$44K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.93	−0.112%	$752K	$5.1M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0056%	1h	168.93	−0.112%	$1.5M	$1.2M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0077%	8h	169.12	+0.002%	$68	—	5x	as long as short
Bybit MSTRUSDT	+0.0079%	8h	169.17	+0.030%	$15.2M	$40.9M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0091%	1h	169.12	0.000%	$57.0M	$38.0M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.18	+0.034%	$103K	$114K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	169.07	−0.030%	$2.6M	$2.8M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	169.07	−0.030%	$4K	$632K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.19	+0.041%	$3K	$12K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.15	+0.019%	$140	—	10x	as long as short
Phoenix MSTR	+0.0231%	1h	169.00	−0.072%	$57K	$394K	10x	as long as short
Injective MSTR/USDC PERP	+0.0333%	1h	169.25	+0.077%	$13K	$22K	30x	as long as short
Arcus MSTR-USD	+0.0457%	1h	169.20	+0.047%	$27K	$134K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0519%	1h	169.23	+0.065%	$288K	$439K	10x	as long as short
edgeX MSTRUSDC	+0.0964%	4h	169.04	−0.045%	$48K	$5.4M	10x	as long as short