Funding arb · Price arb /

MSTR

RWAall MSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.005%

Price spread now: Coinbase International against KuCoin−0.195%51s7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as 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−$640.641% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 3 days (all we have)+0.233%+$23 · spread now −0.195%, 7d avg −0.057%

Together, before fees+0.482%+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Coinbase International is 0.138% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.057%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.249%, so the current rate has only just turned against you. 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	KuCoin MSTRUSDTM	169.08	0.0100	pay 0.0100% / 8h	7h 47m	$2.5M	$2.7M	20x
Short	Coinbase International MSTR-PERP-INTX	168.75	0.0088	get 0.0011% / 1h	47m 27s	$1.4M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.195%Rate

Funding earned: −$2.52
Price spread: −0.195% → −0.057%: −$13.77
Slippage, 4 orders: −$42.1
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$80.4
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Coinbase International: live order book, 1 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, 10 min ago	2.36 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.85 bp	9.4 bp −$9	16.7 bp −$167	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	−0.0087%	1h	169.07	−0.003%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	169.11	+0.019%	$1.3M	$6.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	169.20	+0.071%	$21.9M	$103.8M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	169.14	+0.035%	$4.7M	$18.8M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	169.23	+0.089%	$28.6M	$114.9M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.96	−0.072%	$1.2M	$2.4M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	169.10	+0.012%	$77K	$859K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	169.10	+0.012%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	169.08	0.000%	$3.6M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	169.01	−0.041%	$579K	$1.7M	10x	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	+0.0035%	1h	169.15	+0.041%	$1.4M	$9.9M	10x	as long as short
Bybit MSTRUSDT	+0.0040%	8h	169.22	+0.083%	$15.2M	$39.7M	50x	as long as short
Arcus MSTR-USD	+0.0040%	1h	169.17	+0.053%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	169.25	+0.101%	—	$2.0M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	169.12	+0.024%	$397K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	169.07	−0.006%	$45K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.91	−0.101%	$747K	$5.0M	10x	as long as short
BloFin MSTR-USDT	+0.0063%	8h	169.09	+0.006%	$1.1M	$1.9M	20x	as long as short
Binance MSTRUSDT	+0.0070%	8h	169.19	+0.068%	$89.4M	$620.5M	50x	as long as short
Coinbase International MSTR-PERP-INTXshort	+0.0088%	1h	168.75	−0.195%	$1.4M	$1.2M	10x
Paradex MSTR-USD-PERP	+0.0090%	8h	169.12	+0.022%	$68	—	5x	as long as short
Pacifica MSTR	+0.0100%	1h	169.16	+0.046%	$105K	$85K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	169.08	long leg	$2.5M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	169.06	−0.012%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	169.07	−0.006%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	169.08	0.000%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0186%	1h	169.19	+0.065%	$57.1M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.154%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	169.15	+0.042%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	169.17	+0.053%	$275K	$440K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0401%	1h	169.12	+0.024%	$288K	$438K	10x	as long as short
edgeX MSTRUSDC	+0.0641%	4h	168.94	−0.082%	$47K	$5.5M	10x	as long as short