Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: Extended against KuCoin−0.054%7-day average −0.058% · 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−$58as in the Price arb table

costs, in and out, $10k−$590.587% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.054%, 7d avg −0.058%

Together, before fees+0.206%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.158%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSTRUSDTM	166.09	0.0100	pay 0.0100% / 8h	5h 44m	$2.4M	$2.7M	20x
Short	Extended MSTR_24_5-USD	166.00	0.0032	get 0.0004% / 1h	44m 59s	$509K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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

Position, each leg$Hold fordaysFee KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$14.28
Price spread: −0.054% → −0.058%: $0.37
Slippage, 4 orders: −$41.66
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$72.56
Costs to cover: 0.587%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Extended: 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 KuCoin live order book, 5 min ago	2.41 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	2.41 bp	6.7 bp −$7	17.4 bp −$174	doesn't fit	doesn't fit

MSTR on 32 exchanges

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
Injective MSTR/USDC PERP	−0.0263%	1h	165.22	−0.524%	$7K	$28K	30x	as long as short
Gate MSTR_USDT	0.0000%	8h	166.21	+0.072%	$4.9M	$17.6M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.21	+0.072%	$32.0M	$105.1M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.17	+0.048%	$2.8M	$86K	10x	as long as short
Lighter MSTR	+0.0032%	1h	166.06	−0.018%	$3.5M	$1.7M	10x	as long as short
Extended MSTR_24_5-USDshort	+0.0032%	1h	166.00	−0.054%	$509K	$1.8M	10x
Nado MSTR-PERP	+0.0043%	1h	166.04	−0.031%	$127K	$127K	3x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.25	+0.096%	—	$1.7M	25x	as long as short
QFEX MSTR-USD	+0.0050%	1h	166.05	−0.024%	$1.3M	$6.1M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.08	−0.006%	$383K	$2.3M	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	166.11	+0.012%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	165.91	−0.108%	$870K	$3.3M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0072%	1h	165.78	−0.187%	$1.4M	$364K	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.06	−0.016%	$101K	$74K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	166.09	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	166.01	−0.048%	$6K	$151K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.13	+0.024%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.14	+0.032%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0115%	8h	166.04	−0.028%	$66	—	5x	as long as short
Bybit MSTRUSDT	+0.0203%	8h	166.16	+0.042%	$17.1M	$37.9M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0204%	1h	166.12	+0.018%	$54.9M	$34.4M	10x	as long as short
Aster MSTRUSDT	+0.0284%	8h	166.17	+0.048%	$1.8M	$7.0M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0292%	1h	166.07	−0.012%	$282K	$204K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0296%	8h	166.15	+0.036%	$21.6M	$83.2M	50x	as long as short
Phoenix MSTR	+0.0322%	1h	166.29	+0.119%	$56K	$213K	10x	as long as short
Variational Omni MSTR	+0.0373%	8h	166.18	+0.056%	$1.2M	$1.7M	—	as long as short
RISEx MSTR/USDC	+0.0436%	1h	166.13	+0.027%	$274K	$350K	10x	as long as short
Binance MSTRUSDT	+0.0468%	8h	166.15	+0.038%	$87.2M	$533.9M	50x	as long as short
BloFin MSTR-USDT	+0.0607%	8h	166.16	+0.042%	$1.1M	$2.0M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0641%	8h	166.25	+0.095%	$79K	$853K	10x	as long as short
Arcus MSTR-USD	+0.0824%	1h	166.17	+0.048%	$26K	$71K	10x	as long as short
edgeX MSTRUSDC	+0.0945%	4h	166.18	+0.055%	$48K	$4.9M	10x	as long as short