Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.033%

Price spread now: KuCoin against edgeX−0.116%53s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as 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−$850.849% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days+0.102%+$10 · spread now −0.116%, 7d avg −0.018%

Together, before fees+0.197%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.099% cheaper against edgeX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.094%, so the current rate has only just turned against you. The two prices were read 53 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	edgeX MSTRUSDC	169.21	0.0186	pay 0.0093% / 4h	36m 32s	$47K	$5.5M	10x
Short	KuCoin MSTRUSDTM	169.01	0.0100	get 0.0100% / 8h	36m 32s	$2.5M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against edgeX. 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 edgeXbpFee KuCoinbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$18.01
Price spread: −0.116% → −0.018%: −$9.85
Slippage, 4 orders: −$63.88
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$112.74
Costs to cover: 0.849%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 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 edgeX live order book, 2 min ago	5.61 bp	10.7 bp −$11	17.6 bp −$176	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	4.43 bp	20.5 bp −$20	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
Aster MSTRUSDT	0.0000%	8h	169.13	−0.045%	$1.2M	$6.1M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.06	−0.087%	$4.8M	$19.4M	50x	as long as short
Variational Omni MSTR	0.0000%	8h	169.42	+0.128%	$1.2M	$2.4M	—	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.39	+0.108%	$2.9M	$65K	10x	as long as short
RISEx MSTR/USDC	+0.0001%	1h	169.10	−0.065%	$275K	$441K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0020%	8h	169.06	−0.087%	$22.0M	$106.3M	50x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.00	−0.123%	$583K	$1.8M	10x	as long as short
Nado MSTR-PERP	+0.0032%	1h	168.96	−0.144%	$139K	$97K	3x	as long as short
BloFin MSTR-USDT	+0.0043%	8h	169.11	−0.057%	$1.1M	$1.8M	20x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.19	−0.010%	—	$2.1M	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	+0.0049%	1h	169.06	−0.087%	$1.5M	$10.2M	10x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.07	−0.081%	$389K	$2.8M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.08	−0.075%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	169.00	−0.122%	$780K	$5.2M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0053%	8h	169.43	+0.132%	$77K	$879K	10x	as long as short
Bitget MSTRUSDT	+0.0059%	8h	169.07	−0.081%	$28.7M	$120.0M	25x	as long as short
Binance MSTRUSDT	+0.0067%	8h	169.08	−0.072%	$89.1M	$628.8M	50x	as long as short
Lighter MSTR	+0.0080%	1h	169.05	−0.093%	$3.6M	$2.4M	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0096%	1h	169.32	+0.067%	$1.5M	$1.2M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	169.03	−0.104%	$105K	$87K	10x	as long as short
KuCoin MSTRUSDTMshort	+0.0100%	8h	169.01	−0.116%	$2.5M	$2.8M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	169.09	−0.069%	$4K	$357K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.08	−0.075%	$3K	$11K	10x	as long as short
Injective MSTR/USDC PERP	+0.0104%	1h	169.21	+0.002%	$13K	$21K	30x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.10	−0.063%	$140	—	10x	as long as short
Bybit MSTRUSDT	+0.0105%	8h	169.08	−0.075%	$15.1M	$40.4M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0138%	8h	169.07	−0.079%	$68	—	5x	as long as short
edgeX MSTRUSDClong	+0.0186%	4h	169.21	long leg	$47K	$5.5M	10x
tradeXYZ xyz:MSTR	+0.0202%	1h	169.06	−0.087%	$57.0M	$37.1M	10x	as long as short
Phoenix MSTR	+0.0260%	1h	169.16	−0.025%	$57K	$392K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0519%	1h	169.16	−0.028%	$288K	$438K	10x	as long as short
Arcus MSTR-USD	+0.0738%	1h	169.18	−0.016%	$27K	$129K	10x	as long as short