Spread before costs (cost unknown: a leg has no order-book sample)+0.015%
7d average—if it closes, per $10,000$2funding while held, a day−$3.12
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aevo MSTR-PERP | 165.35 | 0.0104 | pay 0.0013% / 1h | 54m 56s | $137 | — | 10x |
| Short | Phemex MSTRUSDT | 165.38 | 0 | get 0.0000% / 4h | 1h 54m | $2.8M | $45K | 10x |
Aevo MSTR-PERP
Phemex MSTRUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $1.53
- Funding while held
- −$3.12
- Slippage, 4 orders
- no order book: not counted
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$29.59
- Spread needed to break even
- 0.280%
Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0104%
- Per $10,000 a day
- −$3.12
- Average in range /8h
- —
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 Aevo no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 3.32 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
Aevo: 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 price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.72cheapestNado164.97+0.154%Ondo Perps165.11+0.237%Variational Omni165.26+0.325%Extended165.27+0.335%RISEx165.28+0.340%Pacifica165.30+0.352%ApeX Omni165.30+0.352%Paradex165.31+0.361%Orderly165.34+0.376%Aster165.35+0.379%
Coinbase International
Nado
Ondo Perps
Variational Omni
Extended
RISEx
Pacifica
ApeX Omni
Paradex
Orderly
AsterAevo165.35+0.385%
Vest165.37+0.395%
VestPhemex165.38+0.401%
KuCoin165.39+0.407%Polymarket Perps165.39+0.407%SoDEX165.41+0.419%tradeXYZ165.42+0.425%BloFin165.43+0.431%Bitget165.44+0.437%QFEX165.46+0.449%Deribit165.46+0.449%Lighter165.47+0.455%Arcus165.47+0.455%Gate165.48+0.461%Phoenix165.51+0.483%edgeX165.52+0.486%Binance165.61+0.540%Bybit165.62+0.546%OKX165.62+0.546%Injective165.62+0.546%
KuCoin
Polymarket Perps
SoDEX
tradeXYZ
BloFin
Bitget
QFEX
Deribit
Lighter
Arcus
Gate
Phoenix
Binance
Bybit
OKX
InjectiveMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSTR-PERP-INTX | −0.384% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Nado MSTR-PERP | −0.230% | +0.0163% | 1h | $123K | $240K | 3x | as long as short |
| Ondo Perps MSTR-USD.P | −0.148% | +0.0050% | 1h | $775K | $4.7M | 10x | as long as short |
| Variational Omni MSTR | −0.060% | +0.0132% | 8h | $1.2M | $2.4M | — | as long as short |
| Extended MSTR_24_5-USD | −0.051% | +0.0032% | 1h | $574K | $2.1M | 10x | as long as short |
| RISEx MSTR/USDC | −0.045% | 0.0000% | 1h | $284K | $464K | 10x | as long as short |
| Pacifica MSTR | −0.033% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.033% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Paradex MSTR-USD-PERP | −0.025% | +0.0102% | 8h | $66 | — | 5x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.009% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Aster MSTRUSDT | −0.006% | +0.0172% | 8h | $1.3M | $6.1M | 50x | as long as short |
| Aevo MSTR-PERPlong | 0.000% | +0.0104% | 1h | $137 | — | 10x | |
| Vest MSTR-USD-PERP | +0.009% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| Phemex MSTRUSDTshort | +0.015% | 0.0000% | 4h | $2.8M | $45K | 10x | |
| KuCoin MSTRUSDTM | +0.021% | +0.0100% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Polymarket Perps MSTR-USD | +0.021% | +0.0061% | 1h | $399K | $2.3M | 10x | as long as short |
| SoDEX MSTR-USD | +0.033% | +0.0050% | 1h | $43K | $3K | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.040% | +0.0182% | 1h | $56.0M | $33.4M | 10x | as long as short |
| BloFin MSTR-USDT | +0.046% | +0.0306% | 8h | $1.1M | $1.6M | 20x | as long as short |
| Bitget MSTRUSDT | +0.052% | +0.0241% | 8h | $28.4M | $112.7M | 25x | as long as short |
| QFEX MSTR-USD | +0.064% | +0.0065% | 1h | $1.4M | $9.7M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.064% | +0.0779% | 1h | $281K | $488K | 10x | as long as short |
| Lighter MSTR | +0.070% | +0.0096% | 1h | $3.5M | $2.6M | 10x | as long as short |
| Arcus MSTR-USD | +0.070% | +0.0553% | 1h | $27K | $119K | 10x | as long as short |
| Gate MSTR_USDT | +0.076% | 0.0000% | 8h | $4.8M | $18.4M | 50x | as long as short |
| Phoenix MSTR | +0.097% | +0.0237% | 1h | $54K | $379K | 10x | as long as short |
| edgeX MSTRUSDC | +0.101% | +0.0183% | 4h | $44K | $5.2M | 10x | as long as short |
| Binance MSTRUSDT | +0.154% | +0.0186% | 8h | $88.0M | $592.5M | 50x | as long as short |
| Bybit MSTRUSDT | +0.160% | +0.0296% | 8h | $15.4M | $40.3M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.160% | +0.0150% | 8h | $21.9M | $101.9M | 50x | as long as short |
| Injective MSTR/USDC PERP | +0.160% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |