Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.005%

Price spread now: KuCoin against Coinbase International+0.006%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$700.702% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.249%−$25 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.006%, 7d avg +0.057%

Together, before fees−0.293%−$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.052% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.057%). If the spread goes back, that is −$5 on $10k: about 14 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.249%, 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	Coinbase International MSTR-PERP-INTX	168.46	0.0088	pay 0.0011% / 1h	22m 15s	$1.4M	$1.1M	10x
Short	KuCoin MSTRUSDTM	168.47	0.0100	get 0.0100% / 8h	7h 22m	$2.5M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.006%Rate

Funding earned: $2.52
Price spread: +0.006% → +0.057%: −$5.15
Slippage, 4 orders: −$48.23
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$72.86
Costs to cover: 0.702%
Break-even: 209.4 days

Slippage from Coinbase International: live order book, 1 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 Coinbase International live order book, 1 min ago	2.67 bp	7.7 bp −$8	13.2 bp −$132	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	3.26 bp	21.7 bp −$22	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	−0.0033%	1h	168.44	−0.010%	$139K	$84K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.41	−0.031%	$1.2M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.43	−0.018%	$21.7M	$100.7M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.42	−0.024%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.48	+0.012%	$28.2M	$113.4M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.83	+0.218%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.89	+0.255%	$85K	$825K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.53	+0.042%	$2.8M	$67K	10x	as long as short
Binance MSTRUSDT	+0.0017%	8h	168.42	−0.022%	$88.7M	$614.1M	50x	as long as short
BloFin MSTR-USDT	+0.0024%	8h	168.62	+0.095%	$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
Bybit MSTRUSDT	+0.0027%	8h	168.42	−0.024%	$15.1M	$39.1M	50x	as long as short
Lighter MSTR	+0.0032%	1h	168.40	−0.036%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.29	−0.101%	$580K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.41	−0.030%	$1.4M	$9.0M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.77	+0.184%	$27K	$117K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.50	+0.024%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.32	−0.083%	$395K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.44	−0.012%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.44	−0.012%	$736K	$4.9M	10x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0088%	1h	168.46	long leg	$1.4M	$1.1M	10x
Paradex MSTR-USD-PERP	+0.0091%	8h	168.51	+0.032%	$67	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	168.55	+0.054%	$104K	$85K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	168.47	+0.006%	$2.5M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	168.68	+0.131%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.42	−0.024%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.38	−0.047%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0203%	1h	168.38	−0.047%	$56.7M	$35.2M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.522%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	168.89	+0.253%	$56K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.49	+0.016%	$274K	$433K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0582%	1h	168.42	−0.024%	$286K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0832%	4h	168.82	+0.214%	$47K	$5.5M	10x	as long as short