Spread before costs (cost unknown: a leg has no order-book sample)+0.018%
7d average—if it closes, per $10,000$2funding while held, a day+$2.29
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX MSTR-USDT-SWAP | 166.25 | 0.0111 | pay 0.0111% / 8h | 5h 09m | $22.2M | $102.5M | 50x |
| Short | Injective MSTR/USDC PERP | 166.28 | 0.0188 | get 0.0023% / 1h | 9m 45s | $12K | $48K | 30x |
OKX MSTR-USDT-SWAP
Injective MSTR/USDC PERPPrice 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
- $1.8
- Funding while held
- $2.29
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$5.93
- Spread needed to break even
- 0.100%
Slippage unknown: OKX: live order book, 6 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0076%
- Per $10,000 a day
- +$2.29
- 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 OKX live order book, 6 min ago | 0.30 bp | 7.1 bp −$7 | 12.5 bp −$125 | 39.7 bp −$3,970 | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.Coinbase International164.72cheapestOndo Perps166.04+0.801%Phoenix166.07+0.820%BloFin166.07+0.820%Variational Omni166.10+0.835%Pacifica166.11+0.842%Extended166.11+0.844%Polymarket Perps166.11+0.844%Paradex166.12+0.847%Vest166.12+0.850%Nado166.13+0.859%RISEx166.13+0.859%QFEX166.15+0.868%Arcus166.17+0.880%Orderly166.17+0.880%tradeXYZ166.19+0.892%Aevo166.19+0.895%KuCoin166.20+0.898%edgeX166.20+0.900%Gate166.21+0.905%Aster166.22+0.910%Lighter166.22+0.911%Bitget166.22+0.911%Binance166.23+0.917%ApeX Omni166.24+0.923%Phemex166.24+0.923%
Coinbase International
Ondo Perps
Phoenix
BloFin
Variational Omni
Pacifica
Extended
Polymarket Perps
Paradex
Vest
Nado
RISEx
QFEX
Arcus
Orderly
tradeXYZ
Aevo
KuCoin
Gate
Aster
Lighter
Bitget
Binance
ApeX Omni
PhemexOKX166.25+0.929%
SoDEX166.26+0.935%
SoDEXInjective166.28+0.947%
Bybit166.29+0.953%Deribit166.31+0.965%
Bybit
DeribitMSTR 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 | −0.920% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.126% | +0.0050% | 1h | $777K | $4.7M | 10x | as long as short |
| Phoenix MSTR | −0.108% | +0.0237% | 1h | $56K | $384K | 10x | as long as short |
| BloFin MSTR-USDT | −0.108% | +0.0263% | 8h | $1.1M | $1.6M | 20x | as long as short |
| Variational Omni MSTR | −0.093% | +0.0080% | 8h | $1.2M | $2.4M | — | as long as short |
| Pacifica MSTR | −0.086% | +0.0100% | 1h | $101K | $152K | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.084% | +0.0032% | 1h | $577K | $2.1M | 10x | as long as short |
| Polymarket Perps MSTR-USD | −0.084% | +0.0050% | 1h | $405K | $2.4M | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.081% | +0.0077% | 8h | $66 | — | 5x | as long as short |
| Vest MSTR-USD-PERP | −0.078% | +0.0046% | 1h | — | $1.9M | 25x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Nado MSTR-PERP | −0.070% | +0.0022% | 1h | $124K | $228K | 3x | as long as short |
| RISEx MSTR/USDC | −0.069% | 0.0000% | 1h | $286K | $469K | 10x | as long as short |
| QFEX MSTR-USD | −0.060% | +0.0065% | 1h | $1.4M | $9.8M | 10x | as long as short |
| Arcus MSTR-USD | −0.048% | +0.0553% | 1h | $27K | $122K | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.048% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.036% | +0.0092% | 1h | $56.4M | $34.0M | 10x | as long as short |
| Aevo MSTR-PERP | −0.033% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.030% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| edgeX MSTRUSDC | −0.029% | +0.0644% | 4h | $45K | $5.2M | 10x | as long as short |
| Gate MSTR_USDT | −0.024% | 0.0000% | 8h | $4.8M | $18.8M | 50x | as long as short |
| Aster MSTRUSDT | −0.019% | +0.0126% | 8h | $1.3M | $6.1M | 50x | as long as short |
| Lighter MSTR | −0.018% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| Bitget MSTRUSDT | −0.018% | +0.0220% | 8h | $28.5M | $113.3M | 25x | as long as short |
| Binance MSTRUSDT | −0.012% | +0.0142% | 8h | $87.4M | $600.0M | 50x | as long as short |
| ApeX Omni MSTRUSDT | −0.006% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Phemex MSTRUSDT | −0.006% | 0.0000% | 4h | $2.8M | $47K | 10x | as long as short |
| OKX MSTR-USDT-SWAPlong | 0.000% | +0.0111% | 8h | $22.2M | $102.5M | 50x | |
| SoDEX MSTR-USD | +0.006% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Injective MSTR/USDC PERPshort | +0.018% | +0.0188% | 1h | $12K | $48K | 30x | |
| Bybit MSTRUSDT | +0.024% | +0.0284% | 8h | $15.4M | $40.4M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.036% | +0.0713% | 1h | $283K | $460K | 10x | as long as short |