data as of
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Price arb /

MSTR

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$70
spread now−0.346%7d average+0.010%fees + slippage, in and out−$35spread needed0.349%
Long on BloFinShort on Bitget
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBloFin MSTR-USDT167.570.0504pay 0.0504% / 8h43m 24s$1.1M$1.4M20x
ShortBitget MSTRUSDT166.990.0377get 0.0377% / 8h43m 24s$28.8M$110.0M25x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$34.61
Funding while held
−$3.8
Slippage, 4 orders
−$10.87
Fee BloFin: 6 bp × 2 orders
−$12
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$73.29
Spread needed to break even
0.349%
Slippage from BloFin: live order book, 6 min ago; Bitget: live order book, 2 min ago.

Cost of waiting

funding view
Funding /8h
−0.0127%
Per $10,000 a day
−$3.80
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BloFin live order book, 6 min ago1.19 bp8.8 bp −$913.9 bp −$13929.5 bp −$2,948doesn't fit
Sell Bitget live order book, 2 min ago0.30 bp9.3 bp −$914.3 bp −$14331.3 bp −$3,132doesn't fit

MSTR price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International166.86cheapestInjective166.94+0.048%
Bitget166.99+0.078%
Polymarket Perps166.99+0.078%Extended167.01+0.090%tradeXYZ167.02+0.096%OKX167.04+0.108%Binance167.05+0.114%Ondo Perps167.09+0.138%KuCoin167.09+0.138%Bybit167.13+0.162%Vest167.13+0.162%Orderly167.13+0.162%Phemex167.13+0.162%Pacifica167.14+0.170%Paradex167.15+0.175%QFEX167.16+0.180%Gate167.17+0.186%Lighter167.18+0.192%Aster167.18+0.195%SoDEX167.19+0.198%RISEx167.21+0.210%Phoenix167.23+0.223%Aevo167.23+0.224%Nado167.24+0.230%Arcus167.25+0.234%Deribit167.25+0.234%ApeX Omni167.44+0.348%edgeX167.53+0.399%
BloFin167.57+0.426%
Variational Omni167.58+0.429%

MSTR on 31 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International MSTR-PERP-INTX−0.424%+0.0112%1h$1.5M$1.2M10xas long as short
Injective MSTR/USDC PERP−0.376%+0.0033%1h$12K$97K30xas long as short
Bitget MSTRUSDTshort−0.346%+0.0377%8h$28.8M$110.0M25x
Polymarket Perps MSTR-USD−0.346%+0.0085%1h$405K$2.1M10xas long as short
Extended MSTR_24_5-USD−0.334%+0.0080%1h$510K$2.3M10xas long as short
tradeXYZ xyz:MSTR−0.328%+0.0250%1h$57.1M$31.7M10xas long as short
OKX MSTR-USDT-SWAP−0.316%+0.0326%8h$22.2M$100.5M50xas long as short
Binance MSTRUSDT−0.310%+0.0382%8h$89.3M$529.8M50xas long as short
Ondo Perps MSTR-USD.P−0.286%+0.0050%1h$917K$4.6M10xas long as short
KuCoin MSTRUSDTM−0.286%+0.0174%8h$2.6M$2.6M20xas long as short
Show all 31 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bybit MSTRUSDT−0.263%+0.0232%8h$15.8M$43.0M50xas long as short
Vest MSTR-USD-PERP−0.263%+0.0046%1h—$1.6M25xas long as short
Orderly PERP_MSTR_USDC_mythos−0.263%+0.0100%8h$3K$14K10xas long as short
Phemex MSTRUSDT−0.263%0.0000%4h$2.8M$36K10xas long as short
Pacifica MSTR−0.255%+0.0100%1h$102K$167K10xas long as short
Paradex MSTR-USD-PERP−0.249%+0.0131%8h$67—5xas long as short
QFEX MSTR-USD−0.245%+0.0057%1h$1.3M$9.1M10xas long as short
Gate MSTR_USDT−0.239%0.0000%8h$4.9M$18.5M50xas long as short
Lighter MSTR−0.233%+0.0160%1h$3.6M$2.9M10xas long as short
Aster MSTRUSDT−0.230%+0.0400%8h$1.3M$5.9M50xas long as short
SoDEX MSTR-USD−0.227%+0.0050%1h$44K$3K10xas long as short
RISEx MSTR/USDC−0.215%+0.0486%1h$305K$458K10xas long as short
Phoenix MSTR−0.202%+0.0216%1h$54K$364K10xas long as short
Aevo MSTR-PERP−0.200%+0.0104%1h$139—10xas long as short
Nado MSTR-PERP−0.194%+0.0082%1h$128K$263K3xas long as short
Arcus MSTR-USD−0.191%+0.0705%1h$26K$123K10xas long as short
Deribit MSTR_USDC-PERPETUAL−0.191%+0.0648%1h$284K$456K10xas long as short
ApeX Omni MSTRUSDT−0.078%+0.0100%1h$133K$2.2M50xas long as short
edgeX MSTRUSDC−0.026%+0.0089%4h$62K$4.6M10xas long as short
BloFin MSTR-USDTlong0.000%+0.0504%8h$1.1M$1.4M20x
Variational Omni MSTR+0.003%+0.0317%8h$1.3M$2.2M—as long as short