After costs, if the gap returns to its 7d average, $10k−$80
spread now−0.283%7d average+0.097%fees + slippage, in and out−$42spread needed0.424%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSTR-PERP-INTX | 166.32 | 0.0112 | pay 0.0014% / 1h | 45m 19s | $1.5M | $1.2M | 10x |
| Short | Deribit MSTR_USDC-PERPETUAL | 165.85 | 0.0837 | get 0.0105% / 1h | 45m 19s | $282K | $454K | 10x |
Coinbase International MSTR-PERP-INTX
Deribit MSTR_USDC-PERPETUALPrice 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
- −$28.26
- Funding while held
- $21.74
- Slippage, 4 orders
- −$25.39
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$48.92
- Spread needed to break even
- 0.424%
Slippage from Coinbase International: live order book, 5 min ago; Deribit: live order book, 65 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0725%
- Per $10,000 a day
- +$21.74
- 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 Coinbase International live order book, 5 min ago | 5.41 bp | 11.9 bp −$12 | 15.8 bp −$158 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 65 min ago | 5.36 bp | 11.2 bp −$11 | 13.3 bp −$133 | 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%KuCoin165.60+0.047%Pacifica165.62+0.061%Extended165.63+0.065%Paradex165.63+0.066%Polymarket Perps165.65+0.077%tradeXYZ165.66+0.083%Lighter165.67+0.089%QFEX165.67+0.089%RISEx165.69+0.105%Aster165.72+0.117%Binance165.73+0.123%Gate165.74+0.132%Arcus165.75+0.138%Bybit165.78+0.156%OKX165.82+0.180%Orderly165.82+0.180%Aevo165.83+0.189%Bitget165.84+0.192%
Nado
Ondo Perps
Vest
KuCoin
Pacifica
Extended
Paradex
Polymarket Perps
tradeXYZ
Lighter
QFEX
RISEx
Aster
Binance
Gate
Arcus
Bybit
OKX
Orderly
Aevo
BitgetDeribit165.85+0.198%
SoDEX165.87+0.210%Phemex165.90+0.228%Phoenix165.96+0.266%Variational Omni166.07+0.332%ApeX Omni166.17+0.391%
SoDEX
Phemex
Phoenix
Variational Omni
ApeX OmniCoinbase International166.32+0.482%
BloFin166.35+0.500%edgeX166.45+0.558%Injective166.56+0.627%
BloFin
InjectiveMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Nado MSTR-PERP | −0.480% | +0.0151% | 1h | $125K | $257K | 3x | as long as short |
| Ondo Perps MSTR-USD.P | −0.469% | +0.0050% | 1h | $889K | $4.5M | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.445% | +0.0046% | 1h | — | $1.7M | 25x | as long as short |
| KuCoin MSTRUSDTM | −0.433% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| Pacifica MSTR | −0.419% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.415% | +0.0032% | 1h | $499K | $2.2M | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.414% | +0.0109% | 8h | $66 | — | 5x | as long as short |
| Polymarket Perps MSTR-USD | −0.403% | +0.0050% | 1h | $409K | $2.3M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.397% | +0.0168% | 1h | $56.6M | $31.3M | 10x | as long as short |
| Lighter MSTR | −0.391% | +0.0072% | 1h | $3.6M | $2.8M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | −0.391% | +0.0041% | 1h | $1.3M | $9.3M | 10x | as long as short |
| RISEx MSTR/USDC | −0.376% | +0.0277% | 1h | $291K | $477K | 10x | as long as short |
| Aster MSTRUSDT | −0.363% | +0.0304% | 8h | $1.3M | $6.0M | 50x | as long as short |
| Binance MSTRUSDT | −0.357% | +0.0309% | 8h | $89.3M | $555.2M | 50x | as long as short |
| Gate MSTR_USDT | −0.349% | 0.0000% | 8h | $4.8M | $18.7M | 50x | as long as short |
| Arcus MSTR-USD | −0.343% | +0.0612% | 1h | $26K | $126K | 10x | as long as short |
| Bybit MSTRUSDT | −0.325% | +0.0394% | 8h | $15.4M | $42.7M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | −0.301% | +0.0269% | 8h | $22.2M | $100.8M | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.301% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aevo MSTR-PERP | −0.292% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Bitget MSTRUSDT | −0.289% | +0.0320% | 8h | $28.9M | $111.0M | 25x | as long as short |
| Deribit MSTR_USDC-PERPETUALshort | −0.283% | +0.0837% | 1h | $282K | $454K | 10x | |
| SoDEX MSTR-USD | −0.271% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Phemex MSTRUSDT | −0.253% | 0.0000% | 4h | $2.8M | $39K | 10x | as long as short |
| Phoenix MSTR | −0.215% | +0.0226% | 1h | $54K | $380K | 10x | as long as short |
| Variational Omni MSTR | −0.150% | +0.0251% | 8h | $1.2M | $2.2M | — | as long as short |
| ApeX Omni MSTRUSDT | −0.090% | +0.0100% | 1h | $130K | $1.9M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTXlong | 0.000% | +0.0112% | 1h | $1.5M | $1.2M | 10x | |
| BloFin MSTR-USDT | +0.018% | +0.0433% | 8h | $1.1M | $1.4M | 20x | as long as short |
| edgeX MSTRUSDC | +0.075% | +0.0961% | 4h | $44K | $4.9M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.144% | +0.0312% | 1h | $12K | $93K | 30x | as long as short |