Spread before costs (cost unknown: a leg has no order-book sample)+0.122%
7d average—if it closes, per $10,000$12funding while held, a day−$3.38
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSTR/USDC PERP | 166.28 | 0.0188 | pay 0.0023% / 1h | 0m 58s | $12K | $48K | 30x |
| Short | Paradex MSTR-USD-PERP | 166.48 | 0.0075 | get 0.0075% / 8h | 5h 00m | $67 | — | 5x |
Injective MSTR/USDC PERP
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
- $12.19
- Funding while held
- −$3.38
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- $4.79
- Spread needed to break even
- 0.040%
Slippage unknown: Injective: no order-book sample; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0113%
- Per $10,000 a day
- −$3.38
- 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 Injective no order-book sample | — | — | — | — | — |
| Sell Paradex no order-book sample | — | — | — | — | — |
Injective and 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.Coinbase International164.72cheapestVariational Omni166.09+0.832%edgeX166.23+0.920%
Coinbase International
Variational OmniInjective166.28+0.947%
Ondo Perps166.29+0.953%Extended166.31+0.962%Aster166.34+0.983%tradeXYZ166.37+1.002%Gate166.37+1.002%KuCoin166.38+1.008%Phemex166.38+1.008%Nado166.39+1.015%Binance166.39+1.016%Lighter166.40+1.020%Bitget166.40+1.020%SoDEX166.40+1.020%OKX166.42+1.032%Polymarket Perps166.43+1.038%Orderly166.43+1.038%Deribit166.43+1.038%BloFin166.43+1.038%Aevo166.43+1.039%Pacifica166.44+1.042%RISEx166.46+1.053%Bybit166.46+1.056%QFEX166.47+1.062%
Ondo Perps
Extended
Aster
tradeXYZ
Gate
KuCoin
Phemex
Nado
Binance
Lighter
Bitget
SoDEX
OKX
Polymarket Perps
Orderly
Deribit
BloFin
Aevo
Pacifica
RISEx
Bybit
QFEXParadex166.48+1.070%
ApeX Omni166.49+1.075%Phoenix166.50+1.078%Arcus166.52+1.093%Vest166.55+1.111%
ApeX Omni
Phoenix
Arcus
VestMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSTR-PERP-INTX | −0.938% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Variational Omni MSTR | −0.114% | +0.0075% | 8h | $1.2M | $2.4M | — | as long as short |
| edgeX MSTRUSDC | −0.027% | +0.0159% | 4h | $45K | $5.2M | 10x | as long as short |
| Injective MSTR/USDC PERPlong | 0.000% | +0.0188% | 1h | $12K | $48K | 30x | |
| Ondo Perps MSTR-USD.P | +0.006% | +0.0050% | 1h | $779K | $4.7M | 10x | as long as short |
| Extended MSTR_24_5-USD | +0.015% | +0.0032% | 1h | $577K | $2.0M | 10x | as long as short |
| Aster MSTRUSDT | +0.035% | +0.0121% | 8h | $1.3M | $6.1M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.054% | +0.0094% | 1h | $56.6M | $34.1M | 10x | as long as short |
| Gate MSTR_USDT | +0.054% | 0.0000% | 8h | $4.8M | $18.8M | 50x | as long as short |
| KuCoin MSTRUSDTM | +0.060% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex MSTRUSDT | +0.060% | 0.0000% | 4h | $2.8M | $48K | 10x | as long as short |
| Nado MSTR-PERP | +0.067% | +0.0021% | 1h | $124K | $217K | 3x | as long as short |
| Binance MSTRUSDT | +0.068% | +0.0136% | 8h | $87.4M | $600.5M | 50x | as long as short |
| Lighter MSTR | +0.072% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| Bitget MSTRUSDT | +0.072% | +0.0221% | 8h | $28.5M | $113.2M | 25x | as long as short |
| SoDEX MSTR-USD | +0.072% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.084% | +0.0108% | 8h | $22.2M | $102.7M | 50x | as long as short |
| Polymarket Perps MSTR-USD | +0.090% | +0.0050% | 1h | $405K | $2.4M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.090% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.090% | +0.0532% | 1h | $283K | $439K | 10x | as long as short |
| BloFin MSTR-USDT | +0.090% | +0.0256% | 8h | $1.1M | $1.6M | 20x | as long as short |
| Aevo MSTR-PERP | +0.091% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Pacifica MSTR | +0.094% | +0.0100% | 1h | $102K | $152K | 10x | as long as short |
| RISEx MSTR/USDC | +0.105% | 0.0000% | 1h | $289K | $471K | 10x | as long as short |
| Bybit MSTRUSDT | +0.108% | +0.0289% | 8h | $15.5M | $40.2M | 50x | as long as short |
| QFEX MSTR-USD | +0.114% | +0.0065% | 1h | $1.4M | $9.8M | 10x | as long as short |
| Paradex MSTR-USD-PERPshort | +0.122% | +0.0075% | 8h | $67 | — | 5x | |
| ApeX Omni MSTRUSDT | +0.126% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Phoenix MSTR | +0.130% | +0.0237% | 1h | $55K | $384K | 10x | as long as short |
| Arcus MSTR-USD | +0.144% | +0.0553% | 1h | $27K | $125K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.162% | +0.0046% | 1h | — | $1.9M | 25x | as long as short |