Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0586%/8h= +64.2% APRpaid last 24h +0.185%

Price spread now: edgeX against KuCoin+0.772%83s7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$243as 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−$2622.618% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.187%+$19 on $10k

Price spread, last 7 days−0.723%−$72 · spread now +0.772%, 7d avg +0.021%

Together, before fees−0.536%+ Points / potential airdropedgeX: Active · farm board−$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and edgeX is 0.751% dearer against KuCoin than usual: you sell high and buy low: +$75 more if the spread goes back to its 7-day average of +0.021%. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.187% in total (about 9.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSTRUSDTM	164.87	0.0100	pay 0.0100% / 8h	6h 54m	$2.4M	$2.7M	20x
Short	edgeX MSTRUSDC	166.14	0.0686	get 0.0343% / 4h	2h 54m	$49K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.772%Rate

Funding earned: $123.14
Price spread: +0.772% → +0.021%: $75.08
Slippage, 4 orders: −$240.82
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$63.61
Costs to cover: 2.618%
Break-even: 10.6 days

Slippage from KuCoin: live order book, 3 min ago; edgeX: 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 KuCoin live order book, 3 min ago	2.11 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	5.71 bp	10.7 bp −$11	17.3 bp −$173	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
SoDEX MSTR-USD	−0.0082%	1h	164.85	−0.012%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	−0.0061%	1h	165.18	+0.188%	$923K	$3.5M	10x	as long as short
Gate MSTR_USDT	0.0000%	8h	165.17	+0.182%	$4.9M	$17.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	165.14	+0.164%	$31.5M	$113.2M	25x	as long as short
Phemex MSTRUSDT	0.0000%	4h	165.04	+0.103%	$2.8M	$84K	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.67	−0.121%	$512K	$1.9M	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	164.77	−0.061%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	164.76	−0.067%	$380K	$2.5M	10x	as long as short
QFEX MSTR-USD	+0.0076%	1h	164.82	−0.030%	$1.3M	$6.8M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	164.86	−0.006%	$101K	$88K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MSTRUSDTMlong	+0.0100%	8h	164.87	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	166.07	+0.728%	$6K	$178K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.99	+0.073%	$3K	$10K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	165.04	+0.106%	$137	—	10x	as long as short
Nado MSTR-PERP	+0.0111%	1h	164.64	−0.139%	$126K	$140K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0112%	1h	164.98	+0.067%	$1.4M	$643K	10x	as long as short
Lighter MSTR	+0.0120%	1h	165.08	+0.127%	$3.5M	$1.8M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0179%	8h	164.85	−0.014%	$66	—	5x	as long as short
Aster MSTRUSDT	+0.0181%	8h	165.17	+0.181%	$1.8M	$8.4M	50x	as long as short
tradeXYZ xyz:MSTR	+0.0224%	1h	165.04	+0.103%	$54.5M	$35.9M	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0270%	8h	165.17	+0.182%	$21.4M	$91.7M	50x	as long as short
Variational Omni MSTR	+0.0298%	8h	165.92	+0.638%	$1.2M	$1.8M	—	as long as short
Binance MSTRUSDT	+0.0364%	8h	165.22	+0.212%	$86.2M	$589.1M	50x	as long as short
Injective MSTR/USDC PERP	+0.0440%	1h	162.61	−1.371%	$7K	$26K	30x	as long as short
Phoenix MSTR	+0.0460%	1h	166.22	+0.819%	$56K	$217K	10x	as long as short
Bybit MSTRUSDT	+0.0462%	8h	165.07	+0.121%	$16.9M	$40.4M	50x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0479%	1h	164.81	−0.036%	$280K	$276K	10x	as long as short
BloFin MSTR-USDT	+0.0494%	8h	165.03	+0.097%	$1.1M	$2.1M	20x	as long as short
GRVT MSTR_USDT_Perp	+0.0590%	8h	166.34	+0.891%	$82K	$854K	10x	as long as short
RISEx MSTR/USDC	+0.0598%	1h	164.94	+0.039%	$269K	$382K	10x	as long as short
edgeX MSTRUSDCshort	+0.0686%	4h	166.14	+0.772%	$49K	$5.4M	10x
Arcus MSTR-USD	+0.0942%	1h	164.86	−0.006%	$26K	$102K	10x	as long as short