After costs, if the gap returns to its 7d average, $10k−$23
spread now+0.036%7d average+0.004%fees + slippage, in and out−$26spread needed0.260%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 166.23 | 0.0088 | pay 0.0011% / 1h | 21m 46s | $3.6M | $2.9M | 10x |
| Short | tradeXYZ xyz:MSTR | 166.29 | 0.0198 | get 0.0025% / 1h | 21m 46s | $56.9M | $31.4M | 10x |
Lighter MSTR
tradeXYZ xyz: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
- $3.61
- Funding while held
- $3.3
- Slippage, 4 orders
- −$8.02
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$19.11
- Spread needed to break even
- 0.260%
Slippage from Lighter: live order book, 2 min ago; tradeXYZ: live order book, 9 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0110%
- Per $10,000 a day
- +$3.30
- 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, 2 min ago | 1.20 bp | 2.2 bp −$2 | 4.9 bp −$49 | 29.6 bp −$2,957 | doesn't fit |
| Sell tradeXYZ live order book, 9 min ago | 0.30 bp | 9.6 bp −$10 | 10.2 bp −$102 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Phoenix165.75cheapestOndo Perps165.76+0.006%Variational Omni165.81+0.037%Coinbase International166.13+0.229%Phemex166.17+0.253%
Phoenix
Ondo Perps
Variational Omni
Coinbase International
PhemexLighter166.23+0.290%
edgeX166.24+0.294%ApeX Omni166.24+0.296%Extended166.26+0.308%
ApeX Omni
ExtendedtradeXYZ166.29+0.326%
KuCoin166.33+0.350%Bitget166.35+0.362%Injective166.35+0.362%OKX166.38+0.380%Binance166.39+0.386%Gate166.39+0.386%Bybit166.40+0.392%Aster166.54+0.477%SoDEX166.55+0.483%BloFin166.62+0.525%Orderly166.66+0.549%Vest166.70+0.573%Aevo166.72+0.586%Deribit166.75+0.603%Paradex166.75+0.604%Nado166.78+0.623%Pacifica166.80+0.631%QFEX166.83+0.652%Polymarket Perps166.84+0.658%Arcus166.89+0.688%RISEx166.90+0.693%
KuCoin
Bitget
Injective
OKX
Binance
Gate
Bybit
Aster
SoDEX
BloFin
Orderly
Vest
Aevo
Deribit
Paradex
Nado
Pacifica
QFEX
Polymarket Perps
Arcus
RISExMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phoenix MSTR | −0.289% | +0.0216% | 1h | $55K | $364K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.283% | +0.0050% | 1h | $895K | $4.5M | 10x | as long as short |
| Variational Omni MSTR | −0.252% | +0.0295% | 8h | $1.3M | $2.2M | — | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.060% | +0.0112% | 1h | $1.5M | $1.2M | 10x | as long as short |
| Phemex MSTRUSDT | −0.036% | 0.0000% | 4h | $2.8M | $36K | 10x | as long as short |
| Lighter MSTRlong | 0.000% | +0.0088% | 1h | $3.6M | $2.9M | 10x | |
| edgeX MSTRUSDC | +0.004% | +0.0585% | 4h | $63K | $4.7M | 10x | as long as short |
| ApeX Omni MSTRUSDT | +0.006% | +0.0100% | 1h | $132K | $1.9M | 50x | as long as short |
| Extended MSTR_24_5-USD | +0.018% | +0.0040% | 1h | $505K | $2.2M | 10x | as long as short |
| tradeXYZ xyz:MSTRshort | +0.036% | +0.0198% | 1h | $56.9M | $31.4M | 10x |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSTRUSDTM | +0.060% | +0.0141% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Bitget MSTRUSDT | +0.072% | +0.0353% | 8h | $28.9M | $110.7M | 25x | as long as short |
| Injective MSTR/USDC PERP | +0.072% | +0.0033% | 1h | $12K | $97K | 30x | as long as short |
| OKX MSTR-USDT-SWAP | +0.090% | +0.0290% | 8h | $22.1M | $101.0M | 50x | as long as short |
| Binance MSTRUSDT | +0.096% | +0.0352% | 8h | $88.0M | $539.2M | 50x | as long as short |
| Gate MSTR_USDT | +0.096% | 0.0000% | 8h | $4.9M | $18.9M | 50x | as long as short |
| Bybit MSTRUSDT | +0.102% | +0.0245% | 8h | $15.5M | $43.7M | 50x | as long as short |
| Aster MSTRUSDT | +0.186% | +0.0358% | 8h | $1.3M | $5.9M | 50x | as long as short |
| SoDEX MSTR-USD | +0.193% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| BloFin MSTR-USDT | +0.235% | +0.0474% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.259% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.283% | +0.0046% | 1h | — | $1.6M | 25x | as long as short |
| Aevo MSTR-PERP | +0.296% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.313% | +0.0410% | 1h | $283K | $461K | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.314% | +0.0116% | 8h | $67 | — | 5x | as long as short |
| Nado MSTR-PERP | +0.333% | +0.0041% | 1h | $128K | $257K | 3x | as long as short |
| Pacifica MSTR | +0.340% | +0.0100% | 1h | $102K | $153K | 10x | as long as short |
| QFEX MSTR-USD | +0.361% | +0.0057% | 1h | $1.3M | $9.2M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.367% | +0.0050% | 1h | $409K | $2.1M | 10x | as long as short |
| Arcus MSTR-USD | +0.397% | +0.0705% | 1h | $26K | $126K | 10x | as long as short |
| RISEx MSTR/USDC | +0.402% | +0.0486% | 1h | $305K | $463K | 10x | as long as short |