Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0036%/8hpaid last 24h +0.001%

Price spread now: KuCoin against Coinbase International+0.399%51s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$810.812% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 3 days (all we have)−0.432%−$43 · spread now +0.399%, 7d avg +0.051%

Together, before fees−0.686%−$69 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and KuCoin is 0.349% dearer against Coinbase International than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.051%. Mind the row above: over the last 7 days funding on this pair cost −0.254%, so the current rate has only just turned in your favour. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSTR-PERP-INTX	167.85	0.0064	pay 0.0008% / 1h	23m 23s	$1.5M	$1.1M	10x
Short	KuCoin MSTRUSDTM	168.52	0.0100	get 0.0100% / 8h	4h 23m	$2.6M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.399%Rate

Funding earned: $7.56
Price spread: +0.399% → +0.051%: $34.86
Slippage, 4 orders: −$59.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$38.77
Costs to cover: 0.812%
Break-even: 42.9 days

Slippage from Coinbase International: live order book, 5 min ago; KuCoin: live order book, 8 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 Coinbase International live order book, 5 min ago	5.65 bp	10.6 bp −$11	14.8 bp −$148	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	2.38 bp	37.1 bp −$37	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
Nado MSTR-PERP	−0.0089%	1h	168.54	+0.412%	$126K	$184K	3x	as long as short
RISEx MSTR/USDC	0.0000%	1h	168.55	+0.417%	$291K	$470K	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.54	+0.411%	$4.8M	$19.0M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.67	+0.489%	$2.9M	$49K	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0011%	8h	168.67	+0.489%	$78K	$918K	10x	as long as short
edgeX MSTRUSDC	+0.0022%	4h	168.40	+0.329%	$49K	$5.3M	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.62	+0.459%	$3.6M	$2.6M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	168.53	+0.403%	$584K	$2.0M	10x	as long as short
Variational Omni MSTR	+0.0033%	8h	168.18	+0.199%	$1.2M	$2.4M	—	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.76	+0.542%	—	$2.0M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MSTR-USD	+0.0047%	1h	168.48	+0.375%	$1.5M	$10.0M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.52	+0.399%	$412K	$2.4M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.68	+0.494%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.61	+0.453%	$783K	$4.8M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0064%	8h	168.63	+0.467%	$67	—	5x	as long as short
Coinbase International MSTR-PERP-INTXlong	+0.0064%	1h	167.85	long leg	$1.5M	$1.1M	10x
tradeXYZ xyz:MSTR	+0.0067%	1h	168.51	+0.393%	$57.2M	$34.3M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0094%	8h	168.63	+0.465%	$22.5M	$104.8M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	168.56	+0.422%	$103K	$152K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	168.52	+0.399%	$2.6M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	168.55	+0.417%	$4K	$1.3M	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.60	+0.447%	$3K	$12K	10x	as long as short
Binance MSTRUSDT	+0.0103%	8h	168.58	+0.434%	$89.3M	$608.8M	50x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.62	+0.461%	$140	—	10x	as long as short
Aster MSTRUSDT	+0.0107%	8h	168.50	+0.387%	$1.3M	$6.1M	50x	as long as short
Injective MSTR/USDC PERP	+0.0177%	1h	167.72	−0.077%	$12K	$22K	30x	as long as short
Bitget MSTRUSDT	+0.0192%	8h	168.61	+0.453%	$28.8M	$114.4M	25x	as long as short
Phoenix MSTR	+0.0216%	1h	168.23	+0.224%	$54K	$386K	10x	as long as short
BloFin MSTR-USDT	+0.0223%	8h	168.70	+0.506%	$1.1M	$1.7M	20x	as long as short
Bybit MSTRUSDT	+0.0261%	8h	168.65	+0.477%	$15.7M	$40.7M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0462%	1h	168.64	+0.471%	$287K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0493%	1h	168.64	+0.471%	$27K	$125K	10x	as long as short