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Funding arb · Price arb /

MSTR

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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.004%
Price spread now: Coinbase International against KuCoin−0.981%7-day average −0.087% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$157as in the Price arb table
costs, in and out, $10k−$680.677% of the position
Long on KuCoinShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.243%+$24 on $10k
Price spread, last 4 days (all we have)+1.014%+$101 · spread now −0.981%, 7d avg −0.087%
Together, before fees+1.257%+$126 on $10k · with fees, hour by hour
Funding pays, the price is against you. Coinbase International is 0.894% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.981% now, against its 7-day average of −0.087%). If the spread goes back, that is −$89 on $10k: about 3 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.243% in total) that is about 26 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin MSTRUSDTM163.120.0100pay 0.0100% / 8h33m 47s$2.4M$2.7M20x
ShortCoinbase International MSTR-PERP-INTX161.520.0136get 0.0017% / 1h33m 47s$1.4M$1.1M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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

Funding earned
$7.56
Price spread: −0.981% → −0.087%
−$89.4
Slippage, 4 orders
−$45.74
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$149.57
Costs to cover
0.677%
Break-even
145.5 days
Slippage from KuCoin: live order book, 3 min ago; Coinbase International: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 3 min ago1.53 bp25.4 bp −$25doesn't fitdoesn't fitdoesn't fit
Sell Coinbase International live order book, 5 min ago5.81 bp10.8 bp −$1115.8 bp −$158doesn't fitdoesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget MSTRUSDT−0.0389%8h163.35+0.141%$29.5M$119.1M25xas long as short
Gate MSTR_USDT0.0000%8h163.22+0.061%$4.7M$19.5M50xas long as short
Phemex MSTRUSDT0.0000%4h163.22+0.061%$2.7M$82K10xas long as short
edgeX MSTRUSDC+0.0005%4h163.47+0.217%$46K$5.4M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h162.97−0.089%$502K$2.0M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.813%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.47+0.215%$26K$113K10xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.10−0.012%—$1.8M25xas long as short
Polymarket Perps MSTR-USD+0.0050%1h163.120.000%$377K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.15+0.018%$43K$3K10xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps MSTR-USD.P+0.0050%1h162.98−0.086%$864K$3.7M10xas long as short
QFEX MSTR-USD+0.0067%1h163.120.000%$1.3M$7.1M10xas long as short
Aster MSTRUSDT+0.0080%8h163.14+0.013%$1.8M$8.7M50xas long as short
Lighter MSTR+0.0096%1h163.13+0.006%$3.5M$2.0M10xas long as short
Pacifica MSTR+0.0100%1h163.17+0.031%$100K$89K10xas long as short
KuCoin MSTRUSDTMlong+0.0100%8h163.12long leg$2.4M$2.7M20x
ApeX Omni MSTRUSDT+0.0100%1h163.31+0.116%$5K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.17+0.031%$2K$13K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.10−0.011%$135—10xas long as short
Coinbase International MSTR-PERP-INTXshort+0.0136%1h161.52−0.981%$1.4M$1.1M10x
Paradex MSTR-USD-PERP+0.0167%8h163.13+0.008%$65—5xas long as short
OKX MSTR-USDT-SWAP+0.0202%8h163.19+0.043%$20.8M$99.8M50xas long as short
Variational Omni MSTR+0.0203%8h163.25+0.082%$1.2M$2.0M—as long as short
Nado MSTR-PERP+0.0274%1h162.99−0.077%$125K$165K3xas long as short
Binance MSTRUSDT+0.0275%8h163.16+0.028%$84.1M$621.3M50xas long as short
GRVT MSTR_USDT_Perp+0.0282%8h163.75+0.385%$85K$849K10xas long as short
Phoenix MSTR+0.0357%1h163.61+0.298%$56K$223K10xas long as short
BloFin MSTR-USDT+0.0393%8h163.23+0.067%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0415%8h163.14+0.012%$17.1M$41.7M50xas long as short
RISEx MSTR/USDC+0.0493%1h163.29+0.104%$265K$417K10xas long as short
tradeXYZ xyz:MSTR+0.0510%1h163.19+0.043%$53.9M$37.6M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0977%1h163.19+0.043%$278K$437K10xas long as short