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−$138
spread now+0.138%7d average+0.088%fees + slippage, in and out−$143spread needed1.434%
Long on ExtendedShort on ApeX Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended MSTR_24_5-USD165.730.0032pay 0.0004% / 1h29m 06s$498K$2.2M10x
ShortApeX Omni MSTRUSDT165.960.0100get 0.0013% / 1h29m 06s$132K$2.4M50x

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
$13.83
Funding while held
$2.04
Slippage, 4 orders
−$128.45
Fee Extended: 2.5 bp × 2 orders
−$5
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$127.58
Spread needed to break even
1.434%
Slippage from Extended: live order book, 1 min ago; ApeX Omni: live order book, 1 min ago.

Cost of waiting

funding view
Funding /8h
+0.0068%
Per $10,000 a day
+$2.04
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 Extended live order book, 1 min ago2.70 bp6.7 bp −$734.6 bp −$346doesn't fitdoesn't fit
Sell ApeX Omni live order book, 1 min ago16.82 bp66.6 bp −$67doesn't fitdoesn't fitdoesn't fit

MSTR price on every exchange

against the cheapest. Click to use as the short leg.
Phemex165.64cheapestBinance165.70+0.037%Injective165.73+0.054%
Extended165.73+0.055%
tradeXYZ165.75+0.066%Bitget165.76+0.072%Gate165.78+0.085%OKX165.80+0.097%Deribit165.86+0.133%Orderly165.88+0.145%SoDEX165.88+0.145%Aevo165.89+0.153%Ondo Perps165.91+0.163%Lighter165.93+0.175%Bybit165.93+0.175%Coinbase International165.93+0.175%BloFin165.95+0.187%Aster165.96+0.193%
ApeX Omni165.96+0.193%
KuCoin166.00+0.217%Pacifica166.02+0.227%edgeX166.02+0.228%Nado166.03+0.234%QFEX166.03+0.235%Polymarket Perps166.03+0.235%Paradex166.06+0.256%Vest166.09+0.272%Arcus166.14+0.302%RISEx166.15+0.305%Variational Omni166.15+0.305%Phoenix166.38+0.445%

MSTR on 31 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Phemex MSTRUSDT−0.055%0.0000%4h$2.8M$30K10xas long as short
Binance MSTRUSDT−0.018%+0.0417%8h$85.9M$476.9M50xas long as short
Injective MSTR/USDC PERP0.000%−0.0440%1h$12K$123K30xas long as short
Extended MSTR_24_5-USDlong0.000%+0.0032%1h$498K$2.2M10x
tradeXYZ xyz:MSTR+0.012%+0.0190%1h$56.6M$29.9M10xas long as short
Bitget MSTRUSDT+0.018%+0.0404%8h$28.7M$106.0M25xas long as short
Gate MSTR_USDT+0.030%0.0000%8h$5.0M$18.5M50xas long as short
OKX MSTR-USDT-SWAP+0.042%+0.0363%8h$21.8M$96.5M50xas long as short
Deribit MSTR_USDC-PERPETUAL+0.078%+0.0534%1h$282K$450K10xas long as short
Orderly PERP_MSTR_USDC_mythos+0.090%+0.0100%8h$3K$14K10xas long as short
Show all 31 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SoDEX MSTR-USD+0.090%+0.0050%1h$44K$3K10xas long as short
Aevo MSTR-PERP+0.098%+0.0104%1h$138—10xas long as short
Ondo Perps MSTR-USD.P+0.108%+0.0050%1h$843K$4.3M10xas long as short
Lighter MSTR+0.120%+0.0160%1h$3.6M$2.9M10xas long as short
Bybit MSTRUSDT+0.120%+0.0201%8h$15.8M$41.5M50xas long as short
Coinbase International MSTR-PERP-INTX+0.120%+0.0160%1h$1.5M$1.2M10xas long as short
BloFin MSTR-USDT+0.132%+0.0542%8h$1.1M$1.4M20xas long as short
Aster MSTRUSDT+0.138%+0.0448%8h$1.6M$5.0M50xas long as short
ApeX Omni MSTRUSDTshort+0.138%+0.0100%1h$132K$2.4M50x
KuCoin MSTRUSDTM+0.162%+0.0133%8h$3.2M$2.1M20xas long as short
Pacifica MSTR+0.172%+0.0100%1h$102K$176K10xas long as short
edgeX MSTRUSDC+0.173%+0.0698%4h$61K$4.1M10xas long as short
Nado MSTR-PERP+0.179%+0.0082%1h$155K$245K3xas long as short
QFEX MSTR-USD+0.181%+0.0057%1h$1.3M$8.9M10xas long as short
Polymarket Perps MSTR-USD+0.181%+0.0050%1h$420K$1.7M10xas long as short
Paradex MSTR-USD-PERP+0.201%+0.0116%8h$66—5xas long as short
Vest MSTR-USD-PERP+0.217%+0.0046%1h—$1.3M25xas long as short
Arcus MSTR-USD+0.247%+0.0991%1h$26K$123K10xas long as short
RISEx MSTR/USDC+0.250%+0.0566%1h$196K$392K10xas long as short
Variational Omni MSTR+0.251%+0.0342%8h$1.3M$2.1M—as long as short
Phoenix MSTR+0.390%+0.0320%1h$54K$334K10xas long as short