Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.007%

Price spread now: SoDEX against KuCoin+0.073%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on SoDEX

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.073% dearer against KuCoin than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSTRUSDTM	164.98	0.0100	pay 0.0100% / 8h	5h 25m	$2.4M	$2.7M	20x
Short	SoDEX MSTR-USD	165.10	0.0129	get 0.0016% / 1h	25m 18s	$43K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $6.1
Price spread: +0.073% → 0.000%: $7.27
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$6.63
Costs to cover: 0.200%
Break-even: 14.6 days

Slippage unknown: KuCoin: live order book, 2 min ago; SoDEX: no order-book sample. 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 KuCoin live order book, 2 min ago	2.12 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

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
Bitget MSTRUSDT	−0.1151%	8h	165.21	+0.139%	$27.8M	$114.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	165.02	+0.025%	$1.9M	$8.5M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	165.13	+0.091%	$20.7M	$100.0M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.14	+0.097%	$4.6M	$18.6M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.18	+0.121%	$2.8M	$71K	10x	as long as short
Variational Omni MSTR	+0.0031%	8h	165.03	+0.031%	$1.2M	$2.1M	—	as long as short
Lighter MSTR	+0.0032%	1h	165.04	+0.036%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.93	−0.033%	$595K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+2.643%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	165.09	+0.067%	$27K	$112K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERP	+0.0046%	1h	165.07	+0.055%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	165.05	+0.042%	$384K	$2.7M	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.91	−0.042%	$862K	$4.2M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	165.03	+0.030%	$1.4M	$7.6M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0072%	1h	165.03	+0.030%	$55.0M	$36.8M	10x	as long as short
Binance MSTRUSDT	+0.0099%	8h	165.09	+0.067%	$88.3M	$618.1M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	165.08	+0.059%	$101K	$84K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	164.98	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	164.84	−0.085%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	165.09	+0.067%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.09	+0.064%	$137	—	10x	as long as short
SoDEX MSTR-USDshort	+0.0129%	1h	165.10	+0.073%	$43K	$3K	10x
Paradex MSTR-USD-PERP	+0.0140%	8h	165.08	+0.060%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0158%	8h	165.01	+0.018%	$77K	$763K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.539%	$1.4M	$1.1M	10x	as long as short
BloFin MSTR-USDT	+0.0219%	8h	165.17	+0.115%	$1.0M	$2.0M	20x	as long as short
Nado MSTR-PERP	+0.0220%	1h	164.98	+0.002%	$122K	$150K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	165.13	+0.091%	$270K	$447K	10x	as long as short
Phoenix MSTR	+0.0336%	1h	164.99	+0.007%	$56K	$227K	10x	as long as short
Bybit MSTRUSDT	+0.0344%	8h	165.19	+0.127%	$17.2M	$40.7M	50x	as long as short
edgeX MSTRUSDC	+0.0633%	4h	165.02	+0.025%	$50K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1023%	1h	165.17	+0.115%	$281K	$438K	10x	as long as short