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Price arb /

MSTR

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$32
spread now+0.042%7d average+0.024%fees + slippage, in and out−$34spread needed0.342%
Long on OKXShort on Deribit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX MSTR-USDT-SWAP166.680.0321pay 0.0321% / 8h37m 30s$22.2M$100.4M50x
ShortDeribit MSTR_USDC-PERPETUAL166.750.0710get 0.0089% / 1h37m 30s$283K$456K10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$4.2
Funding while held
$11.68
Slippage, 4 orders
−$17.19
Fee OKX: 5 bp × 2 orders
−$10
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$18.3
Spread needed to break even
0.342%
Slippage from OKX: live order book, 3 min ago; Deribit: live order book, 13 min ago.

Cost of waiting

funding view
Funding /8h
+0.0389%
Per $10,000 a day
+$11.68
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 3 min ago0.30 bp6.6 bp −$710.0 bp −$10031.7 bp −$3,173doesn't fit
Sell Deribit live order book, 13 min ago5.36 bp11.2 bp −$1113.3 bp −$133doesn't fitdoesn't fit

MSTR price on every exchange

against the cheapest. Click to use as the short leg.
Phoenix166.36cheapestExtended166.42+0.034%Ondo Perps166.42+0.034%Nado166.47+0.066%ApeX Omni166.50+0.082%Bitget166.54+0.106%QFEX166.56+0.118%BloFin166.56+0.118%Gate166.57+0.124%Coinbase International166.59+0.136%Arcus166.60+0.142%KuCoin166.61+0.148%Polymarket Perps166.61+0.148%RISEx166.62+0.151%Vest166.63+0.160%Binance166.64+0.164%Pacifica166.64+0.164%Phemex166.66+0.179%tradeXYZ166.68+0.191%Bybit166.68+0.191%
OKX166.68+0.191%
Orderly166.70+0.203%Lighter166.73+0.221%SoDEX166.75+0.233%
Deribit166.75+0.233%
Aevo166.77+0.245%Paradex166.78+0.253%Aster166.83+0.281%Injective166.94+0.347%Variational Omni167.10+0.442%edgeX167.13+0.463%

MSTR on 31 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Phoenix MSTR−0.190%+0.0216%1h$56K$364K10xas long as short
Extended MSTR_24_5-USD−0.156%+0.0112%1h$508K$2.2M10xas long as short
Ondo Perps MSTR-USD.P−0.156%+0.0050%1h$913K$4.5M10xas long as short
Nado MSTR-PERP−0.124%+0.0067%1h$128K$260K3xas long as short
ApeX Omni MSTRUSDT−0.108%+0.0100%1h$132K$2.0M50xas long as short
Bitget MSTRUSDT−0.084%+0.0374%8h$29.1M$110.1M25xas long as short
QFEX MSTR-USD−0.072%+0.0057%1h$1.3M$9.2M10xas long as short
BloFin MSTR-USDT−0.072%+0.0500%8h$1.1M$1.4M20xas long as short
Gate MSTR_USDT−0.066%0.0000%8h$4.9M$18.7M50xas long as short
Coinbase International MSTR-PERP-INTX−0.054%+0.0112%1h$1.5M$1.2M10xas long as short
Show all 31 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Arcus MSTR-USD−0.048%+0.0705%1h$26K$125K10xas long as short
KuCoin MSTRUSDTM−0.042%+0.0171%8h$2.6M$2.6M20xas long as short
Polymarket Perps MSTR-USD−0.042%+0.0070%1h$408K$2.1M10xas long as short
RISEx MSTR/USDC−0.039%+0.0486%1h$304K$460K10xas long as short
Vest MSTR-USD-PERP−0.030%+0.0046%1h—$1.6M25xas long as short
Binance MSTRUSDT−0.027%+0.0378%8h$89.2M$531.5M50xas long as short
Pacifica MSTR−0.027%+0.0100%1h$102K$164K10xas long as short
Phemex MSTRUSDT−0.012%0.0000%4h$2.8M$36K10xas long as short
tradeXYZ xyz:MSTR0.000%+0.0249%1h$57.0M$31.5M10xas long as short
Bybit MSTRUSDT0.000%+0.0243%8h$15.6M$43.4M50xas long as short
OKX MSTR-USDT-SWAPlong0.000%+0.0321%8h$22.2M$100.4M50x
Orderly PERP_MSTR_USDC_mythos+0.012%+0.0100%8h$3K$13K10xas long as short
Lighter MSTR+0.030%+0.0176%1h$3.6M$2.9M10xas long as short
SoDEX MSTR-USD+0.042%+0.0050%1h$44K$3K10xas long as short
Deribit MSTR_USDC-PERPETUALshort+0.042%+0.0710%1h$283K$456K10x
Aevo MSTR-PERP+0.054%+0.0104%1h$138—10xas long as short
Paradex MSTR-USD-PERP+0.063%+0.0133%8h$67—5xas long as short
Aster MSTRUSDT+0.090%+0.0391%8h$1.3M$5.9M50xas long as short
Injective MSTR/USDC PERP+0.156%+0.0033%1h$12K$97K30xas long as short
Variational Omni MSTR+0.251%+0.0315%8h$1.3M$2.2M—as long as short
edgeX MSTRUSDC+0.272%+0.0953%4h$62K$4.6M10xas long as short