Funding arb · Price arb /

MSTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.016%

Price spread now: Vest against KuCoin+0.024%50s7-day average −0.875% · you sell dearer than you buy

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

Long on KuCoin Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+1.313%+$131 · spread now +0.024%, 7d avg −0.875%

Together, before fees+1.344%+ Points / potential airdropVest: Active · farm board+$134 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.900% dearer against KuCoin than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.875%): +$90 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 55 days. The two prices were read 50 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	164.38	0.0100	pay 0.0100% / 8h	5h 50m	$2.4M	$2.7M	20x
Short	Vest MSTR-USD-PERP	164.42	0.0046	get 0.0006% / 1h	50m 39s	—	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$11.41
Price spread: +0.024% → −0.875%: $89.96
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: $64.55
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 1 min ago; Vest: 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, 1 min ago	2.43 bp	28.5 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 31 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	−0.1227%	8h	164.58	+0.122%	$27.6M	$114.4M	25x	as long as short
Gate MSTR_USDT	−0.0039%	8h	164.32	−0.037%	$4.6M	$18.4M	50x	as long as short
Aster MSTRUSDT	0.0000%	8h	164.42	+0.022%	$1.2M	$7.8M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	164.30	−0.049%	$20.8M	$99.0M	50x	as long as short
Phemex MSTRUSDT	0.0000%	4h	164.63	+0.152%	$2.8M	$70K	10x	as long as short
Variational Omni MSTR	+0.0011%	8h	164.49	+0.069%	$1.2M	$2.0M	—	as long as short
Lighter MSTR	+0.0032%	1h	164.37	−0.006%	$3.5M	$1.9M	10x	as long as short
Extended MSTR_24_5-USD	+0.0032%	1h	164.19	−0.116%	$594K	$1.9M	10x	as long as short
Injective MSTR/USDC PERP	+0.0033%	1h	169.34	+3.017%	$8K	$26K	30x	as long as short
Arcus MSTR-USD	+0.0040%	1h	164.45	+0.043%	$26K	$112K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MSTR-USD-PERPshort	+0.0046%	1h	164.42	+0.024%	—	$1.8M	25x
Polymarket Perps MSTR-USD	+0.0050%	1h	164.48	+0.061%	$384K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	164.54	+0.097%	$43K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	164.16	−0.134%	$880K	$4.3M	10x	as long as short
QFEX MSTR-USD	+0.0060%	1h	164.29	−0.055%	$1.4M	$7.8M	10x	as long as short
tradeXYZ xyz:MSTR	+0.0062%	1h	164.41	+0.018%	$55.1M	$36.6M	10x	as long as short
Binance MSTRUSDT	+0.0082%	8h	164.34	−0.024%	$87.8M	$618.2M	50x	as long as short
Pacifica MSTR	+0.0100%	1h	164.42	+0.023%	$101K	$85K	10x	as long as short
KuCoin MSTRUSDTMlong	+0.0100%	8h	164.38	long leg	$2.4M	$2.7M	20x
ApeX Omni MSTRUSDT	+0.0100%	1h	164.33	−0.030%	$4K	$184K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	164.53	+0.091%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	164.51	+0.080%	$137	—	10x	as long as short
edgeX MSTRUSDC	+0.0137%	4h	164.24	−0.086%	$50K	$5.4M	10x	as long as short
Paradex MSTR-USD-PERP	+0.0141%	8h	164.43	+0.031%	$66	—	5x	as long as short
GRVT MSTR_USDT_Perp	+0.0159%	8h	164.46	+0.048%	$77K	$772K	10x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0200%	1h	164.09	−0.176%	$1.4M	$1.1M	10x	as long as short
Nado MSTR-PERP	+0.0213%	1h	164.40	+0.014%	$122K	$149K	3x	as long as short
RISEx MSTR/USDC	+0.0291%	1h	164.33	−0.032%	$269K	$447K	10x	as long as short
Bybit MSTRUSDT	+0.0332%	8h	164.39	+0.006%	$17.0M	$40.7M	50x	as long as short
Phoenix MSTR	+0.0336%	1h	164.25	−0.076%	$55K	$227K	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	+0.0480%	1h	164.58	+0.122%	$280K	$438K	10x	as long as short