After costs, if the gap returns to its 7d average, $10k−$23
spread now+0.036%7d average+0.081%fees + slippage, in and out−$19spread needed0.187%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 165.02 | 0.0096 | pay 0.0012% / 1h | 30m 15s | $3.5M | $2.4M | 10x |
| Short | OKX MSTR-USDT-SWAP | 165.08 | 0.0455 | get 0.0455% / 8h | 3h 30m | $21.3M | $70.5M | 50x |
Lighter MSTR
OKX MSTR-USDT-SWAPPrice 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
- $3.64
- Funding while held
- $10.77
- Slippage, 4 orders
- −$8.74
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$4.33
- Spread needed to break even
- 0.187%
Slippage from Lighter: live order book, 4 min ago; OKX: live order book, 5 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0359%
- Per $10,000 a day
- +$10.77
- 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 | 1.21 bp | 2.2 bp −$2 | 5.5 bp −$55 | 30.7 bp −$3,074 | doesn't fit |
| Sell OKX live order book, 5 min ago | 0.30 bp | 6.7 bp −$7 | 12.0 bp −$120 | 29.1 bp −$2,914 | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.ApeX Omni164.72cheapestVariational Omni164.80+0.048%Injective164.80+0.049%KuCoin164.90+0.109%Extended164.90+0.110%Phemex164.93+0.127%Ondo Perps164.96+0.146%Orderly164.96+0.146%Nado164.97+0.151%Aster164.99+0.163%Binance164.99+0.164%edgeX164.99+0.165%Phoenix164.99+0.166%SoDEX165.01+0.176%Coinbase International165.01+0.176%Aevo165.01+0.177%
ApeX Omni
Variational Omni
Injective
KuCoin
Extended
Phemex
Ondo Perps
Orderly
Nado
Aster
Binance
Phoenix
SoDEX
Coinbase International
AevoLighter165.02+0.182%
Bybit165.02+0.182%Gate165.02+0.182%Polymarket Perps165.02+0.182%tradeXYZ165.03+0.188%BloFin165.04+0.194%Pacifica165.04+0.195%Paradex165.05+0.199%Deribit165.05+0.200%QFEX165.06+0.206%Bitget165.06+0.206%
Bybit
Gate
Polymarket Perps
tradeXYZ
BloFin
Pacifica
Paradex
Deribit
QFEX
BitgetOKX165.08+0.219%
RISEx165.08+0.220%Vest165.15+0.261%Arcus165.48+0.461%
RISEx
Vest
ArcusMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSTRUSDT | −0.182% | +0.0100% | 1h | $131K | $2.3M | 50x | as long as short |
| Variational Omni MSTR | −0.134% | +0.0417% | 8h | $1.5M | $1.7M | — | as long as short |
| Injective MSTR/USDC PERP | −0.133% | +0.0179% | 1h | $13K | $130K | 30x | as long as short |
| KuCoin MSTRUSDTM | −0.073% | +0.0198% | 8h | $2.5M | $1.3M | 20x | as long as short |
| Extended MSTR_24_5-USD | −0.072% | +0.0032% | 1h | $490K | $2.1M | 10x | as long as short |
| Phemex MSTRUSDT | −0.055% | 0.0000% | 4h | $2.8M | $25K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.036% | +0.0050% | 1h | $931K | $3.8M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.036% | +0.0100% | 8h | $4K | $10K | 10x | as long as short |
| Nado MSTR-PERP | −0.031% | +0.0186% | 1h | $153K | $263K | 3x | as long as short |
| Aster MSTRUSDT | −0.019% | +0.0584% | 8h | $1.9M | $3.4M | 50x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Binance MSTRUSDT | −0.018% | +0.0523% | 8h | $85.4M | $337.9M | 50x | as long as short |
| edgeX MSTRUSDC | −0.017% | +0.0661% | 4h | $34K | $2.8M | 10x | as long as short |
| Phoenix MSTR | −0.016% | +0.0377% | 1h | $53K | $218K | 10x | as long as short |
| SoDEX MSTR-USD | −0.006% | +0.0304% | 1h | $43K | $3K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.006% | +0.0232% | 1h | $1.5M | $1.1M | 10x | as long as short |
| Aevo MSTR-PERP | −0.005% | +0.0104% | 1h | $137 | — | 10x | as long as short |
| Lighter MSTRlong | 0.000% | +0.0096% | 1h | $3.5M | $2.4M | 10x | |
| Bybit MSTRUSDT | 0.000% | +0.0243% | 8h | $15.9M | $32.0M | 50x | as long as short |
| Gate MSTR_USDT | 0.000% | 0.0000% | 8h | $4.7M | $15.9M | 50x | as long as short |
| Polymarket Perps MSTR-USD | 0.000% | +0.0050% | 1h | $401K | $1.3M | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.006% | +0.0316% | 1h | $56.7M | $19.4M | 10x | as long as short |
| BloFin MSTR-USDT | +0.012% | +0.0681% | 8h | $1.1M | $1.1M | 20x | as long as short |
| Pacifica MSTR | +0.013% | +0.0100% | 1h | $101K | $169K | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.017% | +0.0172% | 8h | $66 | — | 5x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.018% | +0.0660% | 1h | $280K | $478K | 10x | as long as short |
| QFEX MSTR-USD | +0.024% | +0.0061% | 1h | $1.3M | $8.3M | 10x | as long as short |
| Bitget MSTRUSDT | +0.024% | +0.0484% | 8h | $31.8M | $82.5M | 25x | as long as short |
| OKX MSTR-USDT-SWAPshort | +0.036% | +0.0455% | 8h | $21.3M | $70.5M | 50x | |
| RISEx MSTR/USDC | +0.037% | +0.0877% | 1h | $181K | $221K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.079% | +0.0046% | 1h | — | $787K | 25x | as long as short |
| Arcus MSTR-USD | +0.279% | +0.0165% | 1h | $30K | $101K | 10x | as long as short |