Spread before costs (cost unknown: a leg has no order-book sample)−0.043%
7d average+0.064%if it closes, per $10,000$4funding while held, a day−$13.96
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MSTR-USD | 165.91 | 0.0599 | pay 0.0075% / 1h | 16m 53s | $27K | $125K | 10x |
| Short | Variational Omni MSTR | 165.84 | 0.0134 | get 0.0134% / 8h | 6h 16m | $1.2M | $2.3M | — |
Arcus MSTR-USD
Variational Omni MSTRPrice 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
- −$4.27
- Funding while held
- −$13.96
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$22.73
- Spread needed to break even
- 0.045%
Slippage unknown: Arcus: live order book, 58 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0465%
- Per $10,000 a day
- −$13.96
- 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 Arcus live order book, 58 min ago | 6.61 bp | 12.9 bp −$13 | 40.1 bp −$401 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 2.95 bp | doesn't fit | 6.3 bp −$63 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International165.53cheapestApeX Omni165.60+0.042%Nado165.69+0.098%Ondo Perps165.70+0.103%Extended165.71+0.109%Injective165.77+0.145%Paradex165.78+0.153%Phoenix165.79+0.156%KuCoin165.79+0.157%Vest165.80+0.163%Deribit165.80+0.163%Polymarket Perps165.81+0.169%Lighter165.82+0.175%BloFin165.82+0.175%Orderly165.83+0.181%SoDEX165.83+0.181%edgeX165.83+0.181%
Coinbase International
ApeX Omni
Nado
Ondo Perps
Extended
Injective
Paradex
Phoenix
KuCoin
Vest
Deribit
Polymarket Perps
Lighter
BloFin
Orderly
SoDEXVariational Omni165.84+0.187%
Aster165.84+0.187%tradeXYZ165.84+0.187%Gate165.84+0.187%Phemex165.85+0.193%Pacifica165.85+0.196%RISEx165.86+0.199%Aevo165.86+0.199%QFEX165.89+0.217%OKX165.90+0.224%
Aster
tradeXYZ
Gate
Phemex
Pacifica
RISEx
Aevo
QFEX
OKXArcus165.91+0.230%
Bitget165.91+0.230%Binance165.92+0.236%Bybit165.92+0.236%
Bitget
Binance
BybitMSTR 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 | −0.229% | +0.0112% | 1h | $1.5M | $1.1M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.187% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Nado MSTR-PERP | −0.132% | +0.0019% | 1h | $124K | $243K | 3x | as long as short |
| Ondo Perps MSTR-USD.P | −0.127% | +0.0050% | 1h | $779K | $4.7M | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.121% | +0.0032% | 1h | $573K | $2.1M | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.084% | +0.0249% | 1h | $12K | $68K | 30x | as long as short |
| Paradex MSTR-USD-PERP | −0.076% | +0.0086% | 8h | $66 | — | 5x | as long as short |
| Phoenix MSTR | −0.073% | +0.0215% | 1h | $53K | $388K | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.072% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| Vest MSTR-USD-PERP | −0.066% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Deribit MSTR_USDC-PERPETUAL | −0.066% | +0.0293% | 1h | $283K | $479K | 10x | as long as short |
| Polymarket Perps MSTR-USD | −0.060% | +0.0050% | 1h | $402K | $2.3M | 10x | as long as short |
| Lighter MSTR | −0.054% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| BloFin MSTR-USDT | −0.054% | +0.0313% | 8h | $1.1M | $1.5M | 20x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.048% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| SoDEX MSTR-USD | −0.048% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| edgeX MSTRUSDC | −0.048% | +0.0952% | 4h | $49K | $5.1M | 10x | as long as short |
| Variational Omni MSTRshort | −0.043% | +0.0134% | 8h | $1.2M | $2.3M | — | |
| Aster MSTRUSDT | −0.042% | +0.0188% | 8h | $1.3M | $6.1M | 50x | as long as short |
| tradeXYZ xyz:MSTR | −0.042% | +0.0092% | 1h | $56.2M | $32.6M | 10x | as long as short |
| Gate MSTR_USDT | −0.042% | 0.0000% | 8h | $4.8M | $18.7M | 50x | as long as short |
| Phemex MSTRUSDT | −0.036% | 0.0000% | 4h | $2.8M | $43K | 10x | as long as short |
| Pacifica MSTR | −0.033% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| RISEx MSTR/USDC | −0.030% | +0.0017% | 1h | $285K | $465K | 10x | as long as short |
| Aevo MSTR-PERP | −0.030% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| QFEX MSTR-USD | −0.012% | +0.0041% | 1h | $1.4M | $9.6M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | −0.006% | +0.0166% | 8h | $22.2M | $102.2M | 50x | as long as short |
| Arcus MSTR-USDlong | 0.000% | +0.0599% | 1h | $27K | $125K | 10x | |
| Bitget MSTRUSDT | 0.000% | +0.0237% | 8h | $28.5M | $112.4M | 25x | as long as short |
| Binance MSTRUSDT | +0.006% | +0.0193% | 8h | $88.3M | $587.9M | 50x | as long as short |
| Bybit MSTRUSDT | +0.006% | +0.0206% | 8h | $15.4M | $41.8M | 50x | as long as short |