MSTR

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After costs, if the gap returns to its 7d average, $10k−$211

spread now−1.463%7d average−0.008%fees + slippage, in and out−$66spread needed0.658%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSTR/USDC PERP	167.52	−0.0440	get 0.0055% / 1h	43m 24s	$12K	$103K	30x
Short	Binance MSTRUSDT	165.07	0.0437	get 0.0437% / 8h	1h 43m	$85.6M	$469.9M	50x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee InjectivebpFee BinancebpOrdersClose when spread is

Slippage from Injective: live order book, 7 min ago; Binance: live order book, 2 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective live order book, 7 min ago	20.53 bp	33.3 bp −$33	33.8 bp −$338	56210.4 bp −$5.62M	321051.8 bp −$160.53M
Sell Binance live order book, 2 min ago	0.30 bp	5.9 bp −$6	9.9 bp −$99	30.4 bp −$3,042	104.1 bp −$52.0K

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International MSTR-PERP-INTX	−1.588%	+0.0160%	1h	$1.5M	$1.2M	10x	as long as short
Aster MSTRUSDT	−1.526%	+0.0469%	8h	$1.9M	$4.8M	50x	as long as short
Extended MSTR_24_5-USD	−1.522%	+0.0032%	1h	$489K	$2.2M	10x	as long as short
QFEX MSTR-USD	−1.510%	+0.0057%	1h	$1.3M	$8.9M	10x	as long as short
Nado MSTR-PERP	−1.506%	+0.0062%	1h	$154K	$251K	3x	as long as short
Orderly PERP_MSTR_USDC_mythos	−1.504%	+0.0100%	8h	$3K	$14K	10x	as long as short
Vest MSTR-USD-PERP	−1.498%	+0.0046%	1h	—	$1.3M	25x	as long as short
Pacifica MSTR	−1.487%	+0.0100%	1h	$101K	$176K	10x	as long as short
SoDEX MSTR-USD	−1.480%	+0.0050%	1h	$43K	$3K	10x	as long as short
tradeXYZ xyz:MSTR	−1.474%	+0.0165%	1h	$56.1M	$29.4M	10x	as long as short

Show all 31 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Polymarket Perps MSTR-USD	−1.468%	+0.0050%	1h	$418K	$1.6M	10x	as long as short
Binance MSTRUSDTshort	−1.463%	+0.0437%	8h	$85.6M	$469.9M	50x
Arcus MSTR-USD	−1.463%	+0.0991%	1h	$26K	$123K	10x	as long as short
Gate MSTR_USDT	−1.457%	0.0000%	8h	$5.0M	$18.3M	50x	as long as short
Bitget MSTRUSDT	−1.457%	+0.0426%	8h	$28.8M	$104.7M	25x	as long as short
Bybit MSTRUSDT	−1.451%	+0.0214%	8h	$15.7M	$41.5M	50x	as long as short
Paradex MSTR-USD-PERP	−1.438%	+0.0122%	8h	$66	—	5x	as long as short
RISEx MSTR/USDC	−1.437%	+0.0566%	1h	$189K	$389K	10x	as long as short
OKX MSTR-USDT-SWAP	−1.433%	+0.0383%	8h	$21.5M	$94.2M	50x	as long as short
KuCoin MSTRUSDTM	−1.433%	+0.0114%	8h	$3.2M	$2.1M	20x	as long as short
Aevo MSTR-PERP	−1.431%	+0.0104%	1h	$137	—	10x	as long as short
Lighter MSTR	−1.403%	+0.0152%	1h	$3.5M	$2.9M	10x	as long as short
Deribit MSTR_USDC-PERPETUAL	−1.403%	+0.0598%	1h	$281K	$454K	10x	as long as short
ApeX Omni MSTRUSDT	−1.331%	+0.0100%	1h	$131K	$2.4M	50x	as long as short
Ondo Perps MSTR-USD.P	−1.271%	+0.0050%	1h	$839K	$4.3M	10x	as long as short
edgeX MSTRUSDC	−1.265%	+0.0314%	4h	$61K	$4.1M	10x	as long as short
Variational Omni MSTR	−1.217%	+0.0379%	8h	$1.3M	$2.1M	—	as long as short
BloFin MSTR-USDT	−1.212%	+0.0576%	8h	$1.1M	$1.4M	20x	as long as short
Phemex MSTRUSDT	−1.098%	0.0000%	4h	$2.8M	$27K	10x	as long as short
Phoenix MSTR	−0.783%	+0.0320%	1h	$54K	$334K	10x	as long as short
Injective MSTR/USDC PERPlong	0.000%	−0.0440%	1h	$12K	$103K	30x