After costs, if the gap returns to its 7d average, $10k−$41
spread now−0.091%7d average+0.077%fees + slippage, in and out−$24spread needed0.244%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 165.61 | 0.0096 | pay 0.0012% / 1h | 54m 46s | $3.5M | $2.6M | 10x |
| Short | Deribit MSTR_USDC-PERPETUAL | 165.46 | 0.0779 | get 0.0097% / 1h | 54m 46s | $281K | $488K | 10x |
Lighter MSTR
Deribit MSTR_USDC-PERPETUALPrice 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
- −$9.06
- Funding while held
- $20.48
- Slippage, 4 orders
- −$17.38
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$12.97
- Spread needed to break even
- 0.244%
Slippage from Lighter: live order book, 4 min ago; Deribit: live order book, 45 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0682%
- Per $10,000 a day
- +$20.48
- 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, 4 min ago | 0.91 bp | 3.3 bp −$3 | 6.6 bp −$66 | 35.2 bp −$3,521 | doesn't fit |
| Sell Deribit live order book, 45 min ago | 5.72 bp | 9.2 bp −$9 | 12.9 bp −$129 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.72cheapestNado164.97+0.154%Ondo Perps165.11+0.237%Variational Omni165.26+0.325%Extended165.27+0.335%RISEx165.28+0.340%ApeX Omni165.30+0.352%Orderly165.34+0.376%Aevo165.35+0.385%Vest165.37+0.395%Phemex165.38+0.401%Polymarket Perps165.39+0.407%SoDEX165.41+0.419%Aster165.42+0.424%BloFin165.43+0.431%QFEX165.46+0.449%
Coinbase International
Nado
Ondo Perps
Variational Omni
Extended
RISEx
ApeX Omni
Orderly
Aevo
Vest
Phemex
Polymarket Perps
SoDEX
Aster
BloFin
QFEXDeribit165.46+0.449%
Arcus165.47+0.455%Gate165.48+0.461%Phoenix165.51+0.483%edgeX165.52+0.486%tradeXYZ165.55+0.504%KuCoin165.55+0.504%Pacifica165.56+0.509%Paradex165.59+0.531%Bitget165.60+0.534%
Arcus
Gate
Phoenix
tradeXYZ
KuCoin
Pacifica
Paradex
BitgetLighter165.61+0.540%
OKX165.62+0.546%Injective165.62+0.546%Binance165.65+0.565%Bybit165.66+0.571%
OKX
Injective
Binance
BybitMSTR 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 | −0.537% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Nado MSTR-PERP | −0.384% | +0.0163% | 1h | $123K | $240K | 3x | as long as short |
| Ondo Perps MSTR-USD.P | −0.302% | +0.0050% | 1h | $775K | $4.7M | 10x | as long as short |
| Variational Omni MSTR | −0.214% | +0.0132% | 8h | $1.2M | $2.4M | — | as long as short |
| Extended MSTR_24_5-USD | −0.205% | +0.0032% | 1h | $574K | $2.1M | 10x | as long as short |
| RISEx MSTR/USDC | −0.199% | 0.0000% | 1h | $284K | $464K | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.187% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.163% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aevo MSTR-PERP | −0.154% | +0.0104% | 1h | $137 | — | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.145% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex MSTRUSDT | −0.139% | 0.0000% | 4h | $2.8M | $45K | 10x | as long as short |
| Polymarket Perps MSTR-USD | −0.133% | +0.0061% | 1h | $399K | $2.3M | 10x | as long as short |
| SoDEX MSTR-USD | −0.121% | +0.0050% | 1h | $43K | $3K | 10x | as long as short |
| Aster MSTRUSDT | −0.116% | +0.0171% | 8h | $1.3M | $6.1M | 50x | as long as short |
| BloFin MSTR-USDT | −0.109% | +0.0306% | 8h | $1.1M | $1.6M | 20x | as long as short |
| QFEX MSTR-USD | −0.091% | +0.0065% | 1h | $1.4M | $9.7M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUALshort | −0.091% | +0.0779% | 1h | $281K | $488K | 10x | |
| Arcus MSTR-USD | −0.085% | +0.0553% | 1h | $27K | $119K | 10x | as long as short |
| Gate MSTR_USDT | −0.078% | 0.0000% | 8h | $4.8M | $18.4M | 50x | as long as short |
| Phoenix MSTR | −0.057% | +0.0237% | 1h | $54K | $379K | 10x | as long as short |
| edgeX MSTRUSDC | −0.054% | +0.0183% | 4h | $44K | $5.2M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.036% | +0.0181% | 1h | $56.1M | $33.5M | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.036% | +0.0100% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Pacifica MSTR | −0.031% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.009% | +0.0106% | 8h | $66 | — | 5x | as long as short |
| Bitget MSTRUSDT | −0.006% | +0.0241% | 8h | $28.4M | $112.7M | 25x | as long as short |
| Lighter MSTRlong | 0.000% | +0.0096% | 1h | $3.5M | $2.6M | 10x | |
| OKX MSTR-USDT-SWAP | +0.006% | +0.0150% | 8h | $22.0M | $101.9M | 50x | as long as short |
| Injective MSTR/USDC PERP | +0.006% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |
| Binance MSTRUSDT | +0.024% | +0.0187% | 8h | $88.0M | $592.5M | 50x | as long as short |
| Bybit MSTRUSDT | +0.030% | +0.0302% | 8h | $15.4M | $40.3M | 50x | as long as short |