After costs, if the gap returns to its 7d average, $10k−$32
spread now−0.115%7d average−0.086%fees + slippage, in and out−$29spread needed0.291%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSTRUSDT | 165.82 | 0.0394 | pay 0.0394% / 8h | 7h 45m | $15.4M | $42.7M | 50x |
| Short | Extended MSTR_24_5-USD | 165.63 | 0.0032 | get 0.0004% / 1h | 45m 08s | $499K | $2.2M | 10x |
Bybit MSTRUSDT
Extended MSTR_24_5-USDPrice 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
- −$11.46
- Funding while held
- −$10.85
- Slippage, 4 orders
- −$13.15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$51.46
- Spread needed to break even
- 0.291%
Slippage from Bybit: live order book, 5 min ago; Extended: live order book, 5 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0362%
- Per $10,000 a day
- −$10.85
- 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 Bybit live order book, 5 min ago | 1.50 bp | 9.2 bp −$9 | 14.5 bp −$145 | 74.9 bp −$7,487 | doesn't fit |
| Sell Extended live order book, 5 min ago | 1.80 bp | 6.2 bp −$6 | 18.4 bp −$184 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Nado165.52cheapestOndo Perps165.54+0.011%Vest165.58+0.035%Pacifica165.62+0.061%
Nado
Ondo Perps
Vest
PacificaExtended165.63+0.065%
Paradex165.63+0.066%Polymarket Perps165.65+0.077%QFEX165.67+0.089%RISEx165.69+0.105%Aster165.71+0.113%KuCoin165.73+0.126%tradeXYZ165.75+0.138%Arcus165.75+0.138%Lighter165.76+0.144%Gate165.78+0.156%Binance165.79+0.161%SoDEX165.79+0.162%OKX165.80+0.168%Phemex165.80+0.168%
Paradex
Polymarket Perps
QFEX
RISEx
Aster
KuCoin
tradeXYZ
Arcus
Lighter
Gate
Binance
SoDEX
OKX
PhemexBybit165.82+0.180%
Orderly165.82+0.180%Aevo165.83+0.189%Bitget165.85+0.198%Deribit165.85+0.198%BloFin165.86+0.204%Phoenix165.96+0.266%Variational Omni166.07+0.332%ApeX Omni166.17+0.391%Coinbase International166.32+0.482%edgeX166.45+0.558%Injective166.56+0.627%
Orderly
Aevo
Bitget
Deribit
BloFin
Phoenix
Variational Omni
ApeX Omni
Coinbase International
InjectiveMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Nado MSTR-PERP | −0.180% | +0.0151% | 1h | $125K | $257K | 3x | as long as short |
| Ondo Perps MSTR-USD.P | −0.169% | +0.0050% | 1h | $889K | $4.5M | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.145% | +0.0046% | 1h | — | $1.7M | 25x | as long as short |
| Pacifica MSTR | −0.119% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| Extended MSTR_24_5-USDshort | −0.115% | +0.0032% | 1h | $499K | $2.2M | 10x | |
| Paradex MSTR-USD-PERP | −0.114% | +0.0109% | 8h | $66 | — | 5x | as long as short |
| Polymarket Perps MSTR-USD | −0.103% | +0.0050% | 1h | $409K | $2.3M | 10x | as long as short |
| QFEX MSTR-USD | −0.090% | +0.0041% | 1h | $1.3M | $9.3M | 10x | as long as short |
| RISEx MSTR/USDC | −0.075% | +0.0277% | 1h | $291K | $477K | 10x | as long as short |
| Aster MSTRUSDT | −0.067% | +0.0304% | 8h | $1.3M | $6.0M | 50x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSTRUSDTM | −0.054% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| tradeXYZ xyz:MSTR | −0.042% | +0.0169% | 1h | $56.7M | $31.3M | 10x | as long as short |
| Arcus MSTR-USD | −0.042% | +0.0612% | 1h | $26K | $126K | 10x | as long as short |
| Lighter MSTR | −0.036% | +0.0064% | 1h | $3.6M | $2.8M | 10x | as long as short |
| Gate MSTR_USDT | −0.024% | 0.0000% | 8h | $4.8M | $18.7M | 50x | as long as short |
| Binance MSTRUSDT | −0.019% | +0.0309% | 8h | $89.3M | $555.3M | 50x | as long as short |
| SoDEX MSTR-USD | −0.018% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | −0.012% | +0.0269% | 8h | $22.2M | $100.8M | 50x | as long as short |
| Phemex MSTRUSDT | −0.012% | 0.0000% | 4h | $2.8M | $39K | 10x | as long as short |
| Bybit MSTRUSDTlong | 0.000% | +0.0394% | 8h | $15.4M | $42.7M | 50x | |
| Orderly PERP_MSTR_USDC_mythos | 0.000% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aevo MSTR-PERP | +0.009% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Bitget MSTRUSDT | +0.018% | +0.0320% | 8h | $28.9M | $111.0M | 25x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.018% | +0.0837% | 1h | $282K | $454K | 10x | as long as short |
| BloFin MSTR-USDT | +0.024% | +0.0429% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Phoenix MSTR | +0.086% | +0.0226% | 1h | $54K | $380K | 10x | as long as short |
| Variational Omni MSTR | +0.151% | +0.0251% | 8h | $1.2M | $2.2M | — | as long as short |
| ApeX Omni MSTRUSDT | +0.211% | +0.0100% | 1h | $130K | $1.9M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.302% | +0.0112% | 1h | $1.5M | $1.2M | 10x | as long as short |
| edgeX MSTRUSDC | +0.377% | +0.0961% | 4h | $44K | $4.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.446% | +0.0312% | 1h | $12K | $93K | 30x | as long as short |