Spread before costs (cost unknown: a leg has no order-book sample)−0.140%
7d average—if it closes, per $10,000$14funding while held, a day+$1.47
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSTR/USDC PERP | 166.40 | 0.0188 | pay 0.0023% / 1h | 23m 29s | $12K | $48K | 30x |
| Short | Phoenix MSTR | 166.17 | 0.0237 | get 0.0030% / 1h | 23m 29s | $55K | $384K | 10x |
Injective MSTR/USDC PERP
Phoenix MSTRPrice 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
- −$14
- Funding while held
- $1.47
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$19.55
- Spread needed to break even
- 0.070%
Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 10 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0049%
- Per $10,000 a day
- +$1.47
- 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 Phoenix live order book, 10 min ago | 2.65 bp | 9.3 bp −$9 | 18.4 bp −$184 | doesn't fit | doesn't fit |
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.Coinbase International164.72cheapest
Coinbase InternationalPhoenix166.17+0.878%
Extended166.30+0.960%Nado166.31+0.964%tradeXYZ166.38+1.008%Aster166.38+1.008%QFEX166.38+1.008%Lighter166.39+1.014%KuCoin166.39+1.014%Pacifica166.39+1.014%Paradex166.39+1.016%Variational Omni166.40+1.018%Binance166.40+1.019%Gate166.40+1.020%
Extended
Nado
tradeXYZ
Aster
QFEX
Lighter
KuCoin
Pacifica
Paradex
Variational Omni
Binance
GateInjective166.40+1.020%
RISEx166.40+1.022%Polymarket Perps166.41+1.026%OKX166.42+1.032%Bitget166.42+1.032%edgeX166.42+1.034%Ondo Perps166.43+1.038%Bybit166.45+1.050%ApeX Omni166.45+1.050%Arcus166.49+1.075%Vest166.53+1.099%Phemex166.53+1.099%SoDEX166.55+1.111%BloFin166.57+1.123%Orderly166.59+1.135%Aevo166.61+1.148%Deribit166.62+1.153%
RISEx
Polymarket Perps
OKX
Bitget
Ondo Perps
Bybit
ApeX Omni
Arcus
Vest
Phemex
SoDEX
BloFin
Orderly
Aevo
DeribitMSTR 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 | −1.010% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Phoenix MSTRshort | −0.140% | +0.0237% | 1h | $55K | $384K | 10x | |
| Extended MSTR_24_5-USD | −0.059% | +0.0032% | 1h | $577K | $2.1M | 10x | as long as short |
| Nado MSTR-PERP | −0.055% | +0.0039% | 1h | $124K | $235K | 3x | as long as short |
| tradeXYZ xyz:MSTR | −0.012% | +0.0085% | 1h | $56.6M | $33.8M | 10x | as long as short |
| Aster MSTRUSDT | −0.012% | +0.0144% | 8h | $1.3M | $6.1M | 50x | as long as short |
| QFEX MSTR-USD | −0.012% | +0.0065% | 1h | $1.4M | $9.8M | 10x | as long as short |
| Lighter MSTR | −0.006% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.006% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| Pacifica MSTR | −0.005% | +0.0100% | 1h | $102K | $153K | 10x | as long as short |