After costs, if the gap returns to its 7d average, $10k−$32
spread now+0.018%7d average−0.012%fees + slippage, in and out−$35spread needed0.351%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget MSTRUSDT | 166.39 | 0.0234 | pay 0.0234% / 8h | 5h 41m | $28.5M | $113.0M | 25x |
| Short | Bybit MSTRUSDT | 166.42 | 0.0281 | get 0.0281% / 8h | 5h 41m | $15.5M | $40.3M | 50x |
Bitget MSTRUSDT
Bybit 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
- $1.8
- Funding while held
- $1.42
- Slippage, 4 orders
- −$12.07
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$31.84
- Spread needed to break even
- 0.351%
Slippage from Bitget: live order book, 4 min ago; Bybit: live order book, 4 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0047%
- Per $10,000 a day
- +$1.42
- 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 Bitget live order book, 4 min ago | 0.30 bp | 9.8 bp −$10 | 14.1 bp −$141 | 22.6 bp −$2,255 | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.30 bp | 7.7 bp −$8 | 14.8 bp −$148 | 69.6 bp −$6,958 | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.72cheapestInjective165.62+0.546%Ondo Perps165.90+0.716%Variational Omni165.91+0.722%Phoenix166.03+0.797%ApeX Omni166.23+0.917%Nado166.24+0.922%Extended166.30+0.959%Aster166.31+0.968%edgeX166.32+0.973%Pacifica166.32+0.974%QFEX166.34+0.983%OKX166.35+0.990%Gate166.35+0.990%KuCoin166.35+0.990%Binance166.36+0.996%SoDEX166.36+0.996%Phemex166.36+0.996%RISEx166.37+1.000%tradeXYZ166.37+1.002%Polymarket Perps166.37+1.002%Lighter166.38+1.008%Orderly166.38+1.008%Paradex166.39+1.012%Arcus166.39+1.014%
Coinbase International
Injective
Ondo Perps
Variational Omni
Phoenix
ApeX Omni
Nado
Extended
Aster
Pacifica
QFEX
OKX
Gate
KuCoin
Binance
SoDEX
Phemex
RISEx
tradeXYZ
Polymarket Perps
Lighter
Orderly
Paradex
ArcusBitget166.39+1.014%
BloFin166.39+1.014%
BloFinBybit166.42+1.032%
Aevo166.43+1.038%Deribit166.45+1.050%Vest166.55+1.111%
Aevo
Deribit
VestMSTR 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 | −1.004% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.463% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |
| Ondo Perps MSTR-USD.P | −0.294% | +0.0050% | 1h | $777K | $4.7M | 10x | as long as short |
| Variational Omni MSTR | −0.289% | +0.0130% | 8h | $1.2M | $2.4M | — | as long as short |
| Phoenix MSTR | −0.215% | +0.0237% | 1h | $55K | $384K | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.096% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Nado MSTR-PERP | −0.091% | +0.0085% | 1h | $124K | $241K | 3x | as long as short |
| Extended MSTR_24_5-USD | −0.054% | +0.0032% | 1h | $577K | $2.1M | 10x | as long as short |
| Aster MSTRUSDT | −0.046% | +0.0166% | 8h | $1.3M | $6.1M | 50x | as long as short |
| edgeX MSTRUSDC | −0.041% | +0.0324% | 4h | $45K | $5.2M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Pacifica MSTR | −0.040% | +0.0100% | 1h | $102K | $153K | 10x | as long as short |
| QFEX MSTR-USD | −0.030% | +0.0065% | 1h | $1.4M | $9.7M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | −0.024% | +0.0136% | 8h | $22.1M | $102.2M | 50x | as long as short |
| Gate MSTR_USDT | −0.024% | 0.0000% | 8h | $4.8M | $18.6M | 50x | as long as short |
| KuCoin MSTRUSDTM | −0.024% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| Binance MSTRUSDT | −0.018% | +0.0175% | 8h | $87.8M | $598.3M | 50x | as long as short |
| SoDEX MSTR-USD | −0.018% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Phemex MSTRUSDT | −0.018% | 0.0000% | 4h | $2.8M | $45K | 10x | as long as short |
| RISEx MSTR/USDC | −0.014% | 0.0000% | 1h | $286K | $474K | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.012% | +0.0078% | 1h | $56.4M | $33.8M | 10x | as long as short |
| Polymarket Perps MSTR-USD | −0.012% | +0.0050% | 1h | $401K | $2.3M | 10x | as long as short |
| Lighter MSTR | −0.006% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.006% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.001% | +0.0095% | 8h | $67 | — | 5x | as long as short |
| Arcus MSTR-USD | 0.000% | +0.0553% | 1h | $27K | $119K | 10x | as long as short |
| Bitget MSTRUSDTlong | 0.000% | +0.0234% | 8h | $28.5M | $113.0M | 25x | |
| BloFin MSTR-USDT | 0.000% | +0.0295% | 8h | $1.1M | $1.6M | 20x | as long as short |
| Bybit MSTRUSDTshort | +0.018% | +0.0281% | 8h | $15.5M | $40.3M | 50x | |
| Aevo MSTR-PERP | +0.024% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.036% | +0.0471% | 1h | $283K | $487K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.096% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |