Spread before costs (cost unknown: a leg has no order-book sample)+0.096%
7d average—if it closes, per $10,000$10funding while held, a day+$2.56
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado MSTR-PERP | 165.58 | −0.0035 | get 0.0004% / 1h | 27m 19s | $124K | $244K | 3x |
| Short | SoDEX MSTR-USD | 165.74 | 0.0050 | get 0.0006% / 1h | 27m 19s | $44K | $3K | 10x |
Nado MSTR-PERP
SoDEX 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
- $9.61
- Funding while held
- $2.56
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$2.83
- Spread needed to break even
- 0.150%
Slippage unknown: Nado: live order book, 12 min ago; SoDEX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0085%
- Per $10,000 a day
- +$2.56
- 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 Nado live order book, 12 min ago | 7.51 bp | 23.6 bp −$24 | 73.2 bp −$732 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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.ApeX Omni165.41cheapestCoinbase International165.53+0.073%Extended165.57+0.100%
ApeX Omni
Coinbase International
ExtendedNado165.58+0.103%
Ondo Perps165.59+0.109%Vest165.59+0.109%KuCoin165.65+0.145%tradeXYZ165.67+0.157%Paradex165.67+0.157%edgeX165.69+0.168%Pacifica165.71+0.180%Phemex165.71+0.181%Lighter165.72+0.187%Aster165.72+0.187%Polymarket Perps165.72+0.187%Gate165.73+0.193%QFEX165.74+0.200%
Ondo Perps
Vest
KuCoin
tradeXYZ
Paradex
Pacifica
Phemex
Lighter
Aster
Polymarket Perps
Gate
QFEXSoDEX165.74+0.200%
RISEx165.74+0.202%Bitget165.75+0.206%Orderly165.75+0.206%Aevo165.76+0.209%Binance165.76+0.211%OKX165.76+0.212%Arcus165.76+0.212%BloFin165.76+0.212%Bybit165.78+0.224%Deribit165.82+0.248%Injective166.20+0.478%Phoenix166.35+0.566%Variational Omni166.45+0.631%
RISEx
Bitget
Orderly
Aevo
Binance
OKX
Arcus
BloFin
Bybit
Deribit
Injective
Phoenix
Variational OmniMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSTRUSDT | −0.103% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.031% | +0.0112% | 1h | $1.5M | $1.1M | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.004% | +0.0032% | 1h | $491K | $2.0M | 10x | as long as short |
| Nado MSTR-PERPlong | 0.000% | −0.0035% | 1h | $124K | $244K | 3x | |
| Ondo Perps MSTR-USD.P | +0.005% | +0.0050% | 1h | $755K | $4.7M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.005% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| KuCoin MSTRUSDTM | +0.042% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| tradeXYZ xyz:MSTR | +0.054% | +0.0050% | 1h | $56.1M | $32.3M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.054% | +0.0069% | 8h | $66 | — | 5x | as long as short |
| edgeX MSTRUSDC | +0.064% | +0.0075% | 4h | $45K | $5.1M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Pacifica MSTR | +0.077% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| Phemex MSTRUSDT | +0.078% | 0.0000% | 4h | $2.8M | $43K | 10x | as long as short |
| Lighter MSTR | +0.084% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| Aster MSTRUSDT | +0.084% | +0.0191% | 8h | $1.3M | $6.1M | 50x | as long as short |
| Polymarket Perps MSTR-USD | +0.084% | +0.0050% | 1h | $402K | $2.3M | 10x | as long as short |
| Gate MSTR_USDT | +0.090% | 0.0000% | 8h | $4.8M | $18.5M | 50x | as long as short |
| QFEX MSTR-USD | +0.096% | +0.0041% | 1h | $1.3M | $9.5M | 10x | as long as short |
| SoDEX MSTR-USDshort | +0.096% | +0.0050% | 1h | $44K | $3K | 10x | |
| RISEx MSTR/USDC | +0.098% | +0.0017% | 1h | $285K | $467K | 10x | as long as short |
| Bitget MSTRUSDT | +0.102% | +0.0232% | 8h | $28.5M | $112.3M | 25x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.102% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aevo MSTR-PERP | +0.105% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Binance MSTRUSDT | +0.108% | +0.0193% | 8h | $88.1M | $582.9M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.108% | +0.0162% | 8h | $22.2M | $102.2M | 50x | as long as short |
| Arcus MSTR-USD | +0.108% | +0.0599% | 1h | $27K | $125K | 10x | as long as short |
| BloFin MSTR-USDT | +0.108% | +0.0313% | 8h | $1.1M | $1.5M | 20x | as long as short |
| Bybit MSTRUSDT | +0.120% | +0.0153% | 8h | $15.4M | $41.8M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.144% | +0.0958% | 1h | $282K | $455K | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.374% | +0.0249% | 1h | $12K | $68K | 30x | as long as short |
| Phoenix MSTR | +0.462% | +0.0215% | 1h | $54K | $388K | 10x | as long as short |
| Variational Omni MSTR | +0.527% | +0.0149% | 8h | $1.2M | $2.2M | — | as long as short |