Spread before costs (cost unknown: a leg has no order-book sample)+0.029%
7d average—if it closes, per $10,000$3funding while held, a day−$0.01
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSTR-PERP-INTX | 166.00 | 0.0112 | pay 0.0014% / 1h | 39m 01s | $1.5M | $1.2M | 10x |
| Short | Paradex MSTR-USD-PERP | 166.05 | 0.0112 | get 0.0112% / 8h | 7h 39m | $66 | — | 5x |
Coinbase International MSTR-PERP-INTX
Paradex MSTR-USD-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
- $2.85
- Funding while held
- −$0.01
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$11.16
- Spread needed to break even
- 0.140%
Slippage unknown: Coinbase International: live order book, 1 min ago; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- 0.0000%
- Per $10,000 a day
- −$0.01
- 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, 1 min ago | 3.91 bp | 8.9 bp −$9 | 15.1 bp −$151 | doesn't fit | doesn't fit |
| Sell Paradex no order-book sample | — | — | — | — | — |
Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Phoenix165.76cheapestOndo Perps165.80+0.025%Vest165.97+0.127%
Phoenix
Ondo Perps
VestCoinbase International166.00+0.145%
Pacifica166.01+0.152%Nado166.02+0.155%ApeX Omni166.02+0.157%Extended166.04+0.169%
Pacifica
Nado
ApeX Omni
ExtendedParadex166.05+0.174%
Polymarket Perps166.07+0.188%Variational Omni166.08+0.195%QFEX166.09+0.200%RISEx166.10+0.206%Lighter166.13+0.224%Arcus166.13+0.224%SoDEX166.13+0.224%Aster166.13+0.226%tradeXYZ166.14+0.230%KuCoin166.15+0.236%Injective166.15+0.236%BloFin166.15+0.236%Bitget166.16+0.242%OKX166.17+0.248%Orderly166.17+0.248%Phemex166.17+0.248%edgeX166.17+0.248%Binance166.18+0.254%Deribit166.18+0.254%Gate166.19+0.260%Aevo166.21+0.269%Bybit166.23+0.284%
Polymarket Perps
Variational Omni
QFEX
RISEx
Lighter
Arcus
SoDEX
Aster
tradeXYZ
KuCoin
Injective
BloFin
Bitget
OKX
Orderly
Phemex
Binance
Deribit
Gate
Aevo
BybitMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phoenix MSTR | −0.145% | +0.0226% | 1h | $55K | $380K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.120% | +0.0050% | 1h | $884K | $4.4M | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.018% | +0.0046% | 1h | — | $1.7M | 25x | as long as short |
| Coinbase International MSTR-PERP-INTXlong | 0.000% | +0.0112% | 1h | $1.5M | $1.2M | 10x | |
| Pacifica MSTR | +0.006% | +0.0100% | 1h | $101K | $152K | 10x | as long as short |
| Nado MSTR-PERP | +0.010% | +0.0146% | 1h | $125K | $257K | 3x | as long as short |
| ApeX Omni MSTRUSDT | +0.012% | +0.0100% | 1h | $129K | $1.8M | 50x | as long as short |
| Extended MSTR_24_5-USD | +0.023% | +0.0032% | 1h | $499K | $2.2M | 10x | as long as short |
| Paradex MSTR-USD-PERPshort | +0.029% | +0.0112% | 8h | $66 | — | 5x | |
| Polymarket Perps MSTR-USD | +0.042% | +0.0050% | 1h | $409K | $2.3M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Variational Omni MSTR | +0.050% | +0.0254% | 8h | $1.2M | $2.2M | — | as long as short |
| QFEX MSTR-USD | +0.054% | +0.0041% | 1h | $1.3M | $9.3M | 10x | as long as short |
| RISEx MSTR/USDC | +0.060% | +0.0277% | 1h | $292K | $477K | 10x | as long as short |
| Lighter MSTR | +0.078% | +0.0056% | 1h | $3.6M | $2.8M | 10x | as long as short |
| Arcus MSTR-USD | +0.078% | +0.0612% | 1h | $26K | $126K | 10x | as long as short |
| SoDEX MSTR-USD | +0.078% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Aster MSTRUSDT | +0.081% | +0.0303% | 8h | $1.3M | $6.0M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.084% | +0.0168% | 1h | $56.7M | $31.1M | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.090% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| Injective MSTR/USDC PERP | +0.090% | +0.0312% | 1h | $12K | $93K | 30x | as long as short |
| BloFin MSTR-USDT | +0.090% | +0.0429% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Bitget MSTRUSDT | +0.096% | +0.0324% | 8h | $29.0M | $110.8M | 25x | as long as short |
| OKX MSTR-USDT-SWAP | +0.102% | +0.0268% | 8h | $22.3M | $101.0M | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.102% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Phemex MSTRUSDT | +0.102% | 0.0000% | 4h | $2.8M | $39K | 10x | as long as short |
| edgeX MSTRUSDC | +0.103% | +0.0922% | 4h | $44K | $4.9M | 10x | as long as short |
| Binance MSTRUSDT | +0.108% | +0.0309% | 8h | $89.5M | $555.3M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.108% | +0.0774% | 1h | $282K | $454K | 10x | as long as short |
| Gate MSTR_USDT | +0.114% | 0.0000% | 8h | $4.8M | $18.7M | 50x | as long as short |
| Aevo MSTR-PERP | +0.124% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Bybit MSTRUSDT | +0.139% | +0.0451% | 8h | $15.4M | $41.8M | 50x | as long as short |