After costs, if the gap returns to its 7d average, $10k−$24
spread now+0.085%7d average+0.054%fees + slippage, in and out−$27spread needed0.272%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 165.29 | 0.0144 | pay 0.0018% / 1h | 37m 38s | $3.5M | $2.9M | 10x |
| Short | Arcus MSTR-USD | 165.43 | 0.0991 | get 0.0124% / 1h | 37m 38s | $26K | $123K | 10x |
Lighter MSTR
Arcus MSTR-USDPrice 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
- $8.47
- Funding while held
- $25.41
- Slippage, 4 orders
- −$22.75
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- $6.63
- Spread needed to break even
- 0.272%
Slippage from Lighter: live order book, 11 min ago; Arcus: live order book, 53 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0847%
- Per $10,000 a day
- +$25.41
- 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 Lighter live order book, 11 min ago | 0.90 bp | 3.8 bp −$4 | 7.8 bp −$78 | 32.8 bp −$3,281 | doesn't fit |
| Sell Arcus live order book, 53 min ago | 3.64 bp | 5.9 bp −$6 | 33.4 bp −$334 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.86cheapestApeX Omni164.95+0.055%QFEX165.01+0.091%Nado165.06+0.123%Phoenix165.08+0.133%Injective165.09+0.140%Vest165.15+0.176%Polymarket Perps165.17+0.188%Variational Omni165.18+0.197%Extended165.19+0.200%edgeX165.22+0.219%Ondo Perps165.24+0.230%Paradex165.27+0.250%Pacifica165.28+0.255%
Coinbase International
ApeX Omni
QFEX
Nado
Phoenix
Injective
Vest
Polymarket Perps
Variational Omni
Extended
Ondo Perps
Paradex
PacificaLighter165.29+0.261%
Gate165.29+0.261%tradeXYZ165.30+0.267%Orderly165.30+0.267%Aster165.30+0.268%Binance165.33+0.284%OKX165.33+0.285%Bybit165.35+0.297%Bitget165.36+0.303%SoDEX165.36+0.303%KuCoin165.38+0.315%Aevo165.40+0.328%RISEx165.41+0.332%
Gate
tradeXYZ
Orderly
Aster
Binance
OKX
Bybit
Bitget
SoDEX
KuCoin
Aevo
RISExArcus165.43+0.346%
Deribit165.44+0.352%BloFin165.50+0.388%Phemex165.56+0.425%
Deribit
BloFin
PhemexMSTR 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 | −0.260% | +0.0160% | 1h | $1.5M | $1.2M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.206% | +0.0100% | 1h | $131K | $2.4M | 50x | as long as short |
| QFEX MSTR-USD | −0.169% | +0.0057% | 1h | $1.3M | $8.9M | 10x | as long as short |
| Nado MSTR-PERP | −0.138% | +0.0062% | 1h | $154K | $249K | 3x | as long as short |
| Phoenix MSTR | −0.128% | +0.0320% | 1h | $54K | $334K | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.121% | −0.0440% | 1h | $12K | $103K | 30x | as long as short |
| Vest MSTR-USD-PERP | −0.085% | +0.0046% | 1h | — | $1.3M | 25x | as long as short |
| Polymarket Perps MSTR-USD | −0.073% | +0.0050% | 1h | $417K | $1.7M | 10x | as long as short |
| Variational Omni MSTR | −0.064% | +0.0364% | 8h | $1.3M | $2.1M | — | as long as short |
| Extended MSTR_24_5-USD | −0.060% | +0.0032% | 1h | $489K | $2.2M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| edgeX MSTRUSDC | −0.041% | +0.0870% | 4h | $61K | $4.1M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.030% | +0.0050% | 1h | $838K | $4.3M | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.011% | +0.0116% | 8h | $66 | — | 5x | as long as short |
| Pacifica MSTR | −0.006% | +0.0100% | 1h | $101K | $176K | 10x | as long as short |
| Lighter MSTRlong | 0.000% | +0.0144% | 1h | $3.5M | $2.9M | 10x | |
| Gate MSTR_USDT | 0.000% | 0.0000% | 8h | $5.0M | $18.4M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.006% | +0.0160% | 1h | $56.2M | $29.4M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.006% | +0.0100% | 8h | $3K | $14K | 10x | as long as short |
| Aster MSTRUSDT | +0.007% | +0.0456% | 8h | $1.7M | $4.9M | 50x | as long as short |
| Binance MSTRUSDT | +0.023% | +0.0424% | 8h | $85.7M | $472.1M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.024% | +0.0373% | 8h | $21.6M | $95.1M | 50x | as long as short |
| Bybit MSTRUSDT | +0.036% | +0.0202% | 8h | $15.7M | $41.3M | 50x | as long as short |
| Bitget MSTRUSDT | +0.042% | +0.0414% | 8h | $28.6M | $105.1M | 25x | as long as short |
| SoDEX MSTR-USD | +0.042% | +0.0050% | 1h | $43K | $3K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.054% | +0.0120% | 8h | $3.2M | $2.1M | 20x | as long as short |
| Aevo MSTR-PERP | +0.067% | +0.0104% | 1h | $137 | — | 10x | as long as short |
| RISEx MSTR/USDC | +0.071% | +0.0566% | 1h | $192K | $391K | 10x | as long as short |
| Arcus MSTR-USDshort | +0.085% | +0.0991% | 1h | $26K | $123K | 10x | |
| Deribit MSTR_USDC-PERPETUAL | +0.091% | +0.0597% | 1h | $281K | $452K | 10x | as long as short |
| BloFin MSTR-USDT | +0.127% | +0.0558% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Phemex MSTRUSDT | +0.163% | 0.0000% | 4h | $2.8M | $30K | 10x | as long as short |