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Funding arb · Price arb /

MSTR

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: KuCoin against Phemex−0.140%50s7-day average −0.045% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PhemexShort on KuCoin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.143%+$14 on $10k
Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.140%, 7d avg −0.045%
Together, before fees+0.309%+$31 on $10k · with fees, hour by hour
Funding pays, the price is against you. KuCoin is 0.095% cheaper against Phemex than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.045%). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex MSTRUSDT163.950get 0.0000% / 4h3h 05m$2.8M$77K10x
ShortKuCoin MSTRUSDTM163.720.0100get 0.0100% / 8h3h 05m$2.4M$2.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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
$21
Price spread: −0.140% → −0.045%
−$9.54
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$12.54
Costs to cover
0.240%
Break-even
11.2 days
Slippage unknown: Phemex: live order book, 3 min ago; KuCoin: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 3 min ago0.31 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell KuCoin live order book, 6 min ago2.44 bp17.5 bp −$18doesn't fitdoesn'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−0.0974%8h163.98+0.018%$27.1M$116.6M25xas long as short
Aster MSTRUSDT0.0000%8h163.82−0.077%$1.8M$8.6M50xas long as short
Gate MSTR_USDT0.0000%8h163.89−0.037%$4.6M$19.3M50xas long as short
Phemex MSTRUSDTlong0.0000%4h163.95long leg$2.8M$77K10x
Lighter MSTR+0.0032%1h163.81−0.085%$3.5M$2.0M10xas long as short
Extended MSTR_24_5-USD+0.0032%1h163.64−0.186%$599K$1.9M10xas long as short
Injective MSTR/USDC PERP+0.0033%1h169.34+3.288%$8K$26K30xas long as short
Arcus MSTR-USD+0.0040%1h163.87−0.049%$26K$110K10xas long as short
OKX MSTR-USDT-SWAP+0.0041%8h163.84−0.067%$20.7M$99.0M50xas long as short
Vest MSTR-USD-PERP+0.0046%1h163.60−0.213%—$1.7M25xas long as short
Show all 32 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps MSTR-USD+0.0050%1h163.80−0.091%$379K$2.7M10xas long as short
SoDEX MSTR-USD+0.0050%1h163.86−0.055%$43K$3K10xas long as short
Ondo Perps MSTR-USD.P+0.0050%1h163.77−0.110%$817K$4.0M10xas long as short
QFEX MSTR-USD+0.0067%1h163.78−0.104%$1.4M$7.3M10xas long as short
Paradex MSTR-USD-PERP+0.0074%8h163.83−0.074%$66—5xas long as short
Variational Omni MSTR+0.0091%8h163.89−0.039%$1.2M$2.1M—as long as short
Pacifica MSTR+0.0100%1h163.83−0.073%$100K$83K10xas long as short
KuCoin MSTRUSDTMshort+0.0100%8h163.72−0.140%$2.4M$2.7M20x
ApeX Omni MSTRUSDT+0.0100%1h163.67−0.171%$6K$182K50xas long as short
Orderly PERP_MSTR_USDC_mythos+0.0100%8h163.89−0.037%$4K$8K10xas long as short
Aevo MSTR-PERP+0.0104%1h163.88−0.042%$136—10xas long as short
GRVT MSTR_USDT_Perp+0.0148%8h163.85−0.058%$83K$837K10xas long as short
Binance MSTRUSDT+0.0157%8h163.85−0.064%$86.0M$619.1M50xas long as short
Coinbase International MSTR-PERP-INTX+0.0168%1h163.57−0.232%$1.4M$1.1M10xas long as short
RISEx MSTR/USDC+0.0231%1h163.83−0.071%$266K$445K10xas long as short
Nado MSTR-PERP+0.0240%1h163.72−0.139%$121K$148K3xas long as short
tradeXYZ xyz:MSTR+0.0256%1h163.81−0.085%$54.6M$37.1M10xas long as short
BloFin MSTR-USDT+0.0274%8h163.82−0.079%$1.0M$2.1M20xas long as short
Bybit MSTRUSDT+0.0316%8h163.89−0.037%$16.6M$41.2M50xas long as short
Phoenix MSTR+0.0340%1h163.78−0.104%$56K$226K10xas long as short
edgeX MSTRUSDC+0.0686%4h163.69−0.158%$48K$5.4M10xas long as short
Deribit MSTR_USDC-PERPETUAL+0.0727%1h163.97+0.012%$279K$438K10xas long as short