After costs, if the gap returns to its 7d average, $10k−$87
spread now−0.234%7d average−0.025%fees + slippage, in and out−$66spread needed0.664%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget MSTRUSDT | 166.65 | 0.0223 | pay 0.0223% / 8h | 5h 24m | $28.6M | $113.1M | 25x |
| Short | Nado MSTR-PERP | 166.26 | 0.0044 | get 0.0005% / 1h | 24m 33s | $124K | $235K | 3x |
Bitget MSTRUSDT
Nado MSTR-PERPPrice 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
- −$23.39
- Funding while held
- −$5.38
- Slippage, 4 orders
- −$47.42
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$95.19
- Spread needed to break even
- 0.664%
Slippage from Bitget: live order book, 1 min ago; Nado: live order book, 9 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0179%
- Per $10,000 a day
- −$5.38
- 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, 1 min ago | 0.60 bp | 9.7 bp −$10 | 14.1 bp −$141 | 23.5 bp −$2,345 | doesn't fit |
| Sell Nado live order book, 9 min ago | 9.34 bp | 23.2 bp −$23 | 75.1 bp −$751 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.72cheapestApeX Omni166.03+0.795%Phoenix166.17+0.878%edgeX166.17+0.881%
Coinbase International
ApeX Omni
PhoenixNado166.26+0.935%
Variational Omni166.40+1.018%Injective166.40+1.020%Aster166.42+1.031%Polymarket Perps166.42+1.032%Ondo Perps166.43+1.038%QFEX166.43+1.038%Aevo166.43+1.039%Orderly166.44+1.044%Phemex166.44+1.044%KuCoin166.48+1.068%Lighter166.49+1.075%tradeXYZ166.50+1.081%Pacifica166.52+1.094%Vest166.54+1.105%SoDEX166.54+1.105%Extended166.55+1.111%Gate166.55+1.111%BloFin166.57+1.123%Deribit166.59+1.135%Binance166.60+1.139%OKX166.62+1.153%Bybit166.64+1.166%RISEx166.64+1.167%Paradex166.65+1.169%
Variational Omni
Injective
Aster
Polymarket Perps
Ondo Perps
QFEX
Aevo
Orderly
Phemex
KuCoin
Lighter
tradeXYZ
Pacifica
Vest
SoDEX
Extended
Gate
BloFin
Deribit
Binance
OKX
Bybit
RISEx
ParadexBitget166.65+1.172%
Arcus166.68+1.190%
ArcusMSTR 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 | −1.158% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.372% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Phoenix MSTR | −0.290% | +0.0237% | 1h | $55K | $384K | 10x | as long as short |
| edgeX MSTRUSDC | −0.287% | +0.0514% | 4h | $45K | $5.2M | 10x | as long as short |
| Nado MSTR-PERPshort | −0.234% | +0.0044% | 1h | $124K | $235K | 3x | |
| Variational Omni MSTR | −0.152% | +0.0103% | 8h | $1.2M | $2.4M | — | as long as short |
| Injective MSTR/USDC PERP | −0.150% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |
| Aster MSTRUSDT | −0.139% | +0.0144% | 8h | $1.3M | $6.1M | 50x | as long as short |
| Polymarket Perps MSTR-USD | −0.138% | +0.0050% | 1h | $404K | $2.3M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.132% | +0.0050% | 1h | $777K | $4.7M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | −0.132% | +0.0065% | 1h | $1.4M | $9.8M | 10x | as long as short |
| Aevo MSTR-PERP | −0.131% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.126% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Phemex MSTRUSDT | −0.126% | 0.0000% | 4h | $2.8M | $46K | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.102% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| Lighter MSTR | −0.096% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.090% | +0.0087% | 1h | $56.6M | $33.8M | 10x | as long as short |
| Pacifica MSTR | −0.076% | +0.0100% | 1h | $102K | $153K | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.066% | +0.0046% | 1h | — | $1.9M | 25x | as long as short |
| SoDEX MSTR-USD | −0.066% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.060% | +0.0032% | 1h | $577K | $2.1M | 10x | as long as short |
| Gate MSTR_USDT | −0.060% | 0.0000% | 8h | $4.8M | $18.7M | 50x | as long as short |
| BloFin MSTR-USDT | −0.048% | +0.0277% | 8h | $1.1M | $1.6M | 20x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | −0.036% | +0.0471% | 1h | $283K | $483K | 10x | as long as short |
| Binance MSTRUSDT | −0.032% | +0.0156% | 8h | $87.8M | $598.9M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | −0.018% | +0.0121% | 8h | $22.2M | $102.6M | 50x | as long as short |
| Bybit MSTRUSDT | −0.006% | +0.0278% | 8h | $15.5M | $40.3M | 50x | as long as short |
| RISEx MSTR/USDC | −0.005% | 0.0000% | 1h | $286K | $469K | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.003% | +0.0083% | 8h | $67 | — | 5x | as long as short |
| Bitget MSTRUSDTlong | 0.000% | +0.0223% | 8h | $28.6M | $113.1M | 25x | |
| Arcus MSTR-USD | +0.018% | +0.0553% | 1h | $27K | $122K | 10x | as long as short |