Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.080%

Price spread now: KuCoin against RISEx−0.012%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on RISEx Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.326%−$33 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now −0.012%, 7d avg −0.041%

Together, before fees−0.355%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.028% dearer against RISEx than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.041%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 4 days (−0.326% in total) that is about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MSTR/USDC	164.18	0.0231	pay 0.0029% / 1h	37m 10s	$266K	$445K	10x
Short	KuCoin MSTRUSDTM	164.16	0.0100	get 0.0100% / 8h	3h 37m	$2.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against RISEx. 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 RISExbpFee KuCoinbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$27.46
Price spread: −0.012% → −0.041%: $2.85
Slippage, 4 orders: −$39.17
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$81.78
Costs to cover: 0.572%
Break-even: never at this rate

Slippage from RISEx: live order book, 16 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 RISEx live order book, 16 min ago	2.73 bp	5.7 bp −$6	6.6 bp −$66	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	2.44 bp	18.9 bp −$19	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
Bitget MSTRUSDT	−0.0908%	8h	164.45	+0.164%	$27.9M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.20	+0.010%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.33	+0.091%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.30	+0.073%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.14	−0.021%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.143%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.20	+0.012%	$26K	$109K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0044%	8h	164.35	+0.104%	$20.7M	$99.1M	50x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.96	−0.134%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.15	−0.018%	$380K	$2.7M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MSTR-USD	+0.0050%	1h	164.16	−0.012%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.88	−0.183%	$853K	$3.9M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.14	−0.024%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0080%	1h	164.28	+0.061%	$3.5M	$1.9M	10x	as long as short
Variational Omni MSTR	+0.0094%	8h	164.16	−0.014%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	164.13	−0.032%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	164.16	−0.012%	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	163.79	−0.238%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.23	+0.030%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.27	+0.057%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0143%	8h	164.14	−0.026%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0163%	8h	164.34	+0.096%	$86.9M	$616.1M	50x	as long as short
GRVT MSTR_USDT_Perp	+0.0163%	8h	164.03	−0.092%	$82K	$814K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.96	−0.134%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDClong	+0.0231%	1h	164.18	long leg	$266K	$445K	10x
edgeX MSTRUSDC	+0.0259%	4h	164.08	−0.064%	$49K	$5.3M	10x	as long as short
Nado MSTR-PERP	+0.0268%	1h	164.04	−0.088%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0270%	1h	164.29	+0.067%	$54.7M	$37.0M	10x	as long as short
BloFin MSTR-USDT	+0.0283%	8h	164.31	+0.079%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0332%	8h	164.36	+0.110%	$16.6M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.17	−0.005%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.1029%	1h	164.40	+0.134%	$280K	$438K	10x	as long as short