Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.007%

Price spread now: SoDEX against KuCoin+0.037%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SoDEX is 0.037% dearer against KuCoin than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSTRUSDTM	163.76	0.0100	pay 0.0100% / 8h	3h 04m	$2.4M	$2.7M	20x
Short	SoDEX MSTR-USD	163.82	0.0050	get 0.0006% / 1h	4m 50s	$43K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$10.5
Price spread: +0.037% → 0.000%: $3.66
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$26.84
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 7 min ago	2.44 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0974%	8h	164.00	+0.147%	$27.1M	$116.7M	25x	as long as short
Aster MSTRUSDT	0.0000%	8h	163.88	+0.075%	$1.8M	$8.6M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	163.89	+0.079%	$4.6M	$19.3M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	163.94	+0.110%	$2.8M	$77K	10x	as long as short
Lighter MSTR	+0.0032%	1h	163.82	+0.037%	$3.5M	$2.0M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	163.73	−0.018%	$599K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.407%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	163.87	+0.067%	$26K	$110K	10x	as long as short
OKX MSTR-USDT-SWAP	+0.0041%	8h	163.97	+0.128%	$20.7M	$99.1M	50x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	163.60	−0.098%	—	$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	163.80	+0.024%	$379K	$2.7M	10x	as long as short
SoDEX MSTR-USDshort	+0.0050%	1h	163.82	+0.037%	$43K	$3K	10x
Ondo Perps MSTR-USD.P	+0.0050%	1h	163.77	+0.006%	$817K	$4.0M	10x	as long as short
QFEX MSTR-USD	+0.0067%	1h	163.78	+0.012%	$1.4M	$7.3M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0074%	8h	163.83	+0.042%	$66	—	5x	as long as short
Variational Omni MSTR	+0.0091%	8h	163.89	+0.077%	$1.2M	$2.1M	—	as long as short
Pacifica MSTR	+0.0100%	1h	163.83	+0.043%	$100K	$83K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	163.76	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	163.67	−0.055%	$6K	$182K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	163.86	+0.061%	$4K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	163.87	+0.065%	$136	—	10x	as long as short
GRVT MSTR_USDT_Perp	+0.0148%	8h	163.85	+0.058%	$83K	$837K	10x	as long as short
Binance MSTRUSDT	+0.0157%	8h	163.91	+0.090%	$86.0M	$619.1M	50x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0168%	1h	163.57	−0.116%	$1.4M	$1.1M	10x	as long as short
RISEx MSTR/USDC	+0.0231%	1h	163.83	+0.045%	$266K	$445K	10x	as long as short
Nado MSTR-PERP	+0.0240%	1h	163.72	−0.023%	$121K	$148K	3x	as long as short
tradeXYZ xyz:MSTR	+0.0256%	1h	163.83	+0.043%	$54.6M	$37.1M	10x	as long as short
BloFin MSTR-USDT	+0.0277%	8h	163.88	+0.073%	$1.0M	$2.1M	20x	as long as short
Bybit MSTRUSDT	+0.0316%	8h	163.97	+0.128%	$16.6M	$41.2M	50x	as long as short
Phoenix MSTR	+0.0340%	1h	163.78	+0.012%	$56K	$226K	10x	as long as short
edgeX MSTRUSDC	+0.0686%	4h	163.69	−0.042%	$48K	$5.4M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0788%	1h	163.93	+0.104%	$279K	$438K	10x	as long as short