Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h +0.082%

Price spread now: Arcus against KuCoin+0.134%7-day average +0.031% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.121%+$12 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.134%, 7d avg +0.031%

Together, before fees−0.065%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.103% dearer against KuCoin than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of +0.031%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.7 days. Mind the row above: over the last 4 days funding on this pair paid +0.121%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSTRUSDTM	164.26	0.0100	pay 0.0100% / 8h	3h 44m	$2.4M	$2.7M	20x
Short	Arcus MSTR-USD	164.48	0.0040	get 0.0005% / 1h	44m 19s	$26K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$12.54
Price spread: +0.134% → +0.031%: $10.27
Slippage, 4 orders: −$43.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$62.19
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Arcus: live order book, 9 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 KuCoin live order book, 3 min ago	3.04 bp	22.4 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 9 min ago	6.07 bp	11.0 bp −$11	33.0 bp −$330	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	−0.0882%	8h	164.41	+0.091%	$27.8M	$115.4M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.32	+0.034%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	164.35	+0.055%	$4.6M	$18.9M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.26	0.000%	$2.8M	$76K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.09	−0.103%	$593K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.093%	$8K	$26K	30x	as long as short
OKX MSTR-USDT-SWAP	+0.0036%	8h	164.29	+0.018%	$20.7M	$99.5M	50x	as long as short
edgeX MSTRUSDC	+0.0038%	4h	164.50	+0.144%	$49K	$5.3M	10x	as long as short
Arcus MSTR-USDshort	+0.0040%	1h	164.48	+0.134%	$26K	$109K	10x
Vest MSTR-USD-PERP	+0.0046%	1h	164.15	−0.067%	—	$1.7M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	+0.0050%	1h	164.24	−0.012%	$380K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.24	−0.012%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.27	+0.006%	$855K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	164.27	+0.006%	$1.4M	$7.3M	10x	as long as short
Lighter MSTR	+0.0072%	1h	164.23	−0.018%	$3.5M	$1.9M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.22	−0.027%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	164.26	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	164.39	+0.079%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.24	−0.012%	$4K	$8K	10x	as long as short
Variational Omni MSTR	+0.0101%	8h	164.45	+0.113%	$1.2M	$2.1M	—	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.27	+0.007%	$136	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0137%	8h	164.21	−0.029%	$66	—	5x	as long as short
Binance MSTRUSDT	+0.0160%	8h	164.28	+0.010%	$86.8M	$615.8M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	164.21	−0.030%	$1.4M	$1.1M	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0172%	8h	164.40	+0.085%	$75K	$803K	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	164.32	+0.040%	$266K	$445K	10x	as long as short
tradeXYZ xyz:MSTR	+0.0243%	1h	164.20	−0.037%	$54.7M	$37.0M	10x	as long as short
Nado MSTR-PERP	+0.0252%	1h	164.13	−0.082%	$121K	$148K	3x	as long as short
BloFin MSTR-USDT	+0.0281%	8h	164.36	+0.061%	$1.0M	$2.0M	20x	as long as short
Bybit MSTRUSDT	+0.0335%	8h	164.29	+0.018%	$16.8M	$40.8M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	164.53	+0.166%	$56K	$226K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0847%	1h	164.29	+0.018%	$279K	$438K	10x	as long as short