Spread before costs (cost unknown: a leg has no order-book sample)+0.310%
7d average+0.023%if it closes, per $10,000$31funding while held, a day+$4.97
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSTRUSDT | 164.97 | 0.0214 | pay 0.0214% / 8h | 1h 43m | $15.7M | $41.5M | 50x |
| Short | Variational Omni MSTR | 165.48 | 0.0379 | get 0.0379% / 8h | 1h 43m | $1.3M | $2.1M | — |
Bybit MSTRUSDT
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
- $30.98
- Funding while held
- $4.97
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $24.95
- Spread needed to break even
- 0.110%
Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0166%
- Per $10,000 a day
- +$4.97
- 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, 2 min ago | 0.91 bp | 8.4 bp −$8 | 15.7 bp −$157 | 75.6 bp −$7,559 | doesn't fit |
| Sell Variational Omni RFQ quote, 2 min ago | 4.48 bp | doesn't fit | 17.8 bp −$178 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.86cheapesttradeXYZ164.94+0.049%Aster164.96+0.062%
Coinbase International
tradeXYZ
AsterBybit164.97+0.067%
Bitget164.97+0.067%Extended164.97+0.067%Lighter164.98+0.073%Gate164.98+0.073%QFEX164.99+0.079%Nado165.00+0.083%Orderly165.00+0.085%Binance165.00+0.086%Vest165.01+0.091%Phemex165.01+0.091%OKX165.02+0.097%Pacifica165.03+0.102%SoDEX165.04+0.109%Polymarket Perps165.06+0.121%Arcus165.07+0.127%BloFin165.07+0.127%Paradex165.11+0.152%RISEx165.11+0.153%KuCoin165.12+0.158%Aevo165.12+0.159%Deribit165.17+0.188%ApeX Omni165.29+0.261%Ondo Perps165.39+0.321%edgeX165.40+0.328%
Bitget
Extended
Lighter
Gate
QFEX
Nado
Orderly
Binance
Vest
Phemex
OKX
Pacifica
SoDEX
Polymarket Perps
Arcus
BloFin
Paradex
RISEx
KuCoin
Aevo
Deribit
ApeX Omni
Ondo PerpsVariational Omni165.48+0.377%
Phoenix166.21+0.818%Injective167.52+1.613%
Phoenix
InjectiveMSTR 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 | −0.067% | +0.0160% | 1h | $1.5M | $1.2M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.018% | +0.0164% | 1h | $56.0M | $29.4M | 10x | as long as short |
| Aster MSTRUSDT | −0.005% | +0.0469% | 8h | $1.9M | $4.8M | 50x | as long as short |
| Bybit MSTRUSDTlong | 0.000% | +0.0214% | 8h | $15.7M | $41.5M | 50x | |
| Bitget MSTRUSDT | 0.000% | +0.0426% | 8h | $28.8M | $104.8M | 25x | as long as short |
| Extended MSTR_24_5-USD | 0.000% | +0.0032% | 1h | $489K | $2.2M | 10x | as long as short |
| Lighter MSTR | +0.006% | +0.0144% | 1h | $3.5M | $2.9M | 10x | as long as short |
| Gate MSTR_USDT | +0.006% | 0.0000% | 8h | $5.0M | $18.3M | 50x | as long as short |
| QFEX MSTR-USD | +0.012% | +0.0057% | 1h | $1.3M | $8.9M | 10x | as long as short |
| Nado MSTR-PERP | +0.016% | +0.0062% | 1h | $154K | $251K | 3x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Orderly PERP_MSTR_USDC_mythos | +0.018% | +0.0100% | 8h | $3K | $14K | 10x | as long as short |
| Binance MSTRUSDT | +0.019% | +0.0437% | 8h | $85.6M | $470.0M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.024% | +0.0046% | 1h | — | $1.3M | 25x | as long as short |
| Phemex MSTRUSDT | +0.024% | 0.0000% | 4h | $2.8M | $27K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.030% | +0.0383% | 8h | $21.5M | $94.1M | 50x | as long as short |
| Pacifica MSTR | +0.035% | +0.0100% | 1h | $101K | $176K | 10x | as long as short |
| SoDEX MSTR-USD | +0.042% | +0.0050% | 1h | $43K | $3K | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.055% | +0.0050% | 1h | $418K | $1.6M | 10x | as long as short |
| Arcus MSTR-USD | +0.061% | +0.0991% | 1h | $26K | $123K | 10x | as long as short |
| BloFin MSTR-USDT | +0.061% | +0.0569% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Paradex MSTR-USD-PERP | +0.085% | +0.0122% | 8h | $66 | — | 5x | as long as short |
| RISEx MSTR/USDC | +0.087% | +0.0566% | 1h | $189K | $389K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.091% | +0.0114% | 8h | $3.2M | $2.1M | 20x | as long as short |
| Aevo MSTR-PERP | +0.092% | +0.0104% | 1h | $137 | — | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.121% | +0.0598% | 1h | $281K | $454K | 10x | as long as short |
| ApeX Omni MSTRUSDT | +0.194% | +0.0100% | 1h | $131K | $2.4M | 50x | as long as short |
| Ondo Perps MSTR-USD.P | +0.255% | +0.0050% | 1h | $839K | $4.3M | 10x | as long as short |
| edgeX MSTRUSDC | +0.261% | +0.0314% | 4h | $61K | $4.1M | 10x | as long as short |
| Variational Omni MSTRshort | +0.310% | +0.0379% | 8h | $1.3M | $2.1M | — | |
| Phoenix MSTR | +0.750% | +0.0320% | 1h | $54K | $334K | 10x | as long as short |
| Injective MSTR/USDC PERP | +1.546% | −0.0440% | 1h | $12K | $103K | 30x | as long as short |