Spread before costs (cost unknown: a leg has no order-book sample)+0.207%
7d average—if it closes, per $10,000$21funding while held, a day+$8.41
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MSTR_24_5-USD | 166.22 | 0.0032 | pay 0.0004% / 1h | 50m 10s | $499K | $2.2M | 10x |
| Short | Injective MSTR/USDC PERP | 166.56 | 0.0312 | get 0.0039% / 1h | 50m 10s | $12K | $93K | 30x |
Extended MSTR_24_5-USD
Injective MSTR/USDC 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
- $20.68
- Funding while held
- $8.41
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $24.07
- Spread needed to break even
- 0.050%
Slippage unknown: Extended: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0280%
- Per $10,000 a day
- +$8.41
- 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 Extended live order book, 5 min ago | 3.91 bp | 7.2 bp −$7 | 26.9 bp −$269 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.ApeX Omni166.20cheapest
ApeX OmniExtended166.22+0.010%
Vest166.25+0.030%Ondo Perps166.28+0.048%Polymarket Perps166.30+0.060%Nado166.30+0.061%tradeXYZ166.32+0.072%Lighter166.32+0.072%SoDEX166.32+0.072%Coinbase International166.32+0.072%Gate166.33+0.078%KuCoin166.36+0.096%Bitget166.36+0.096%Orderly166.37+0.102%Aster166.38+0.108%Binance166.38+0.108%Paradex166.39+0.112%Phemex166.40+0.120%Bybit166.41+0.126%RISEx166.41+0.128%Deribit166.42+0.132%Pacifica166.42+0.133%QFEX166.43+0.138%Aevo166.43+0.139%BloFin166.44+0.144%edgeX166.46+0.155%OKX166.48+0.168%Phoenix166.49+0.171%Arcus166.50+0.181%Variational Omni166.51+0.186%
Vest
Ondo Perps
Polymarket Perps
Nado
tradeXYZ
Lighter
SoDEX
Coinbase International
Gate
KuCoin
Bitget
Orderly
Aster
Binance
Paradex
Phemex
Bybit
RISEx
Deribit
Pacifica
QFEX
Aevo
BloFin
OKX
Phoenix
Arcus
Variational OmniInjective166.56+0.217%
MSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSTRUSDT | −0.010% | +0.0100% | 1h | $130K | $1.9M | 50x | as long as short |
| Extended MSTR_24_5-USDlong | 0.000% | +0.0032% | 1h | $499K | $2.2M | 10x | |
| Vest MSTR-USD-PERP | +0.020% | +0.0046% | 1h | — | $1.7M | 25x | as long as short |
| Ondo Perps MSTR-USD.P | +0.038% | +0.0050% | 1h | $894K | $4.5M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.050% | +0.0050% | 1h | $411K | $2.3M | 10x | as long as short |
| Nado MSTR-PERP | +0.051% | +0.0151% | 1h | $125K | $257K | 3x | as long as short |
| tradeXYZ xyz:MSTR | +0.062% | +0.0192% | 1h | $56.9M | $31.3M | 10x | as long as short |
| Lighter MSTR | +0.062% | +0.0088% | 1h | $3.6M | $2.8M | 10x | as long as short |
| SoDEX MSTR-USD | +0.062% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.062% | +0.0112% | 1h | $1.5M | $1.2M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSTR_USDT | +0.068% | 0.0000% | 8h | $4.8M | $18.6M | 50x | as long as short |
| KuCoin MSTRUSDTM | +0.086% | +0.0100% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Bitget MSTRUSDT | +0.086% | +0.0320% | 8h | $29.0M | $111.1M | 25x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.092% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aster MSTRUSDT | +0.098% | +0.0305% | 8h | $1.3M | $6.0M | 50x | as long as short |
| Binance MSTRUSDT | +0.098% | +0.0310% | 8h | $89.9M | $555.5M | 50x | as long as short |
| Paradex MSTR-USD-PERP | +0.102% | +0.0109% | 8h | $67 | — | 5x | as long as short |
| Phemex MSTRUSDT | +0.111% | 0.0000% | 4h | $2.8M | $38K | 10x | as long as short |
| Bybit MSTRUSDT | +0.117% | +0.0243% | 8h | $15.5M | $43.3M | 50x | as long as short |
| RISEx MSTR/USDC | +0.118% | +0.0277% | 1h | $293K | $477K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.123% | +0.0833% | 1h | $283K | $453K | 10x | as long as short |
| Pacifica MSTR | +0.123% | +0.0100% | 1h | $102K | $153K | 10x | as long as short |
| QFEX MSTR-USD | +0.129% | +0.0041% | 1h | $1.3M | $9.2M | 10x | as long as short |
| Aevo MSTR-PERP | +0.129% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| BloFin MSTR-USDT | +0.135% | +0.0430% | 8h | $1.1M | $1.4M | 20x | as long as short |
| edgeX MSTRUSDC | +0.145% | +0.0545% | 4h | $45K | $4.9M | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.159% | +0.0269% | 8h | $22.3M | $101.5M | 50x | as long as short |
| Phoenix MSTR | +0.162% | +0.0226% | 1h | $54K | $380K | 10x | as long as short |
| Arcus MSTR-USD | +0.171% | +0.0612% | 1h | $26K | $126K | 10x | as long as short |
| Variational Omni MSTR | +0.176% | +0.0241% | 8h | $1.3M | $2.2M | — | as long as short |
| Injective MSTR/USDC PERPshort | +0.207% | +0.0312% | 1h | $12K | $93K | 30x |